A
s US consumers look to update their televisions, increasing the size and picture quality are the top driving forces, according to NPD Connected Intelligence.
Of the consumers who purchased an UltraHD replacement TV, 45% reported buying their new TV because they wanted a larger screen, 39% for better picture quality and 24% purchased because pricing became more affordable.
The number of consumers that reported replacing an existing TV with a UHD TV grew from 23% in November 2017 to 28% in February 2018. Desire for a modern, high-quality TV in the living room has been a primary factor in the increase in demand for UHD, as 62% of UHD replacement TVs purchased were installed in the living room.
NPD VP and industry advisor Stephen Baker said:
“Approximately 90% of t
he installed base of TVs in the US is not yet UHD, meaning there is tremendous opportunity to accelerate the replacement cycle with updated, quality TVs. Screen size and picture quality are driving consumer purchase decisions instead of price, which seems to indicate that the industry has been slow to address the shifting value proposition of the TV in the home”.
In the 12 months ending February 2018, TV sales of 55″-and-larger screens have grown by 8%, now representing one-third of the US unit sales volume. Many of these big-screen purchases are being made to replace smaller screens in the home — most notably in the living room.
According to the report, the average size of a replacement TV intended for the living room was 52″. For all other household rooms, the average replacement TV screen size is 43″. Baker concluded:
“While the number of installed TVs per US household has shrunk slightly in recent years, consumers are continuing to spend on the primary TV in their home, upgrading it to the biggest screen and the best picture they can afford. Despite the fact that content viewership is splintering among devices, it’s important to note that demand for a great TV to occupy a prominent position in home is not diminishing”.
