What They Say
Highlighting the difficult conditions in the US TV market, NPD said that there has been a surge in TVs being sold on promotion. From January through April 2022, 71% of TVs purchased in the U.S. were sold that way (at least 5% discount). That is up from 18% in the same period last year and 59% in 2019 before the pandemic. Excess inventory by retailers is the key driver for the trend.
The state of the TV market is worse than other categories and ‘consumer tech’ is seeing 24% of products sold on promotion, down from 27% in 2019 and 25% last year.
Paul Gagnon said:
“… we expect the 2022 holiday season to look a lot more like pre-pandemic times, with higher rates of promotion to entice consumer spending in TVs and beyond.”
What We Think
There is an unusually consistent set of indicators about TV at the moment. None are positive. (BR)
