What They Say
Quoting data from GfK released around the IFA show, DigitalTVEurope said that the European TV market saw a drop of 6% in value in the first half of the year, with only the largest sets with screen sizes over 75″ increasing – and they were up 21%. Overall CE sales were further down by 8% and GfK expects the TV market to decline over the whole year. Lockdowns, the Ukraine war and inflation are seen as the key factors.
The difficult market has seen TV prices drop from $533 in June 2021 to $502 by this year. Retailers and brands are trying to focus on premium market buyers who may be less affected by the current economic difficulties.
What We Think
GfK said that the industry expects some boost from the Qatar World Cup in Q4, but I think that may be hard to unpick from general seasonal patterns.
I found the graphic below from GfK from the last World Cup and it seems to support my contention of many years that the effect was just to move some demand forward from Q3 to Q2. The boost in May is followed by a dip in August and September. (BR)
