What They Say
Twice reported data from NPD that TV diagonals in the US continue to increase, with sets of 60″ and above now at 15% up from 11% a year ago. The average size of replacement TVs rose from 47″ in November 2018, to 49″ in the same month in 2019 and 51″ in November 2021.
US consumers are also replacing their TVs more often, with average age declining from 5.4 years to 4.9 years.
Overall for the year to December 5th, sales were up 19% on the year before. Through Cyber Monday week, 65″ TV sales increased 27% vs. 2019, while 70″ and above TVs increased by 82%. In total 65″ and above TVs made up 21% of sales, increasing from 18% in 2019 and 13% in 2018. NPD expects that by 2022 65-inch and above TVs will be 27% of sales.
What We Think
We published the press release with this date last week, but it slipped by me at the time. In checking out this article we also spotted an article with 7 CE Predictions for 2021. I attended an online talk by NPD’s Stephen Baker yesterday on US CE trends and plan a report for tomorrow’s DD.
I was slightly surprised to see the continuing growth in diagonals, as I was sure I had seen something recently that suggested that diagonals were not growing globally. That could well reflect that the Pandemic will really hit the economies outside the developed world much harder in the areas of discretionary spending such as TV purchases. (BR)
