I'm writing these words on the flight home from the 2008 Consumer Electronics Show, held January 7–10 in Las Vegas. I wasn't sure what to expect at this year's CES. Though the official stats show that the US economy has grown for the fourth straight year, audio retailers I spoke with before the Show feel that that economic growth has not resulted in any increase in consumers' disposable incomes. In fact, with the drying up of credit, retailers are concerned that 2008 may well be a step back from 2007 in overall sales, and that high-end audio—a niche category within a niche category—will be adversely affected by the relative impoverishment of the middle class.
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