Arlington, Va. — More than one-third of television owners, or 37 percent, without high-definition TV (HDTV) said they will buy an HDTV set within the next two years, according to results from a Consumer Electronics Association (CEA) study.
This trend has significant implications for the home theater furniture industry, according to CEA.
CEA’s report, called “New Tech TVs and Furniture,” showed 56 percent of TV owners without high-tech sets would buy a TV stand, cabinet or entertainment center. The study also showed 36 percent would buy at the same time as purchasing a high-tech TV, and 20 percent would buy after purchasing a new high-tech TV.
“The emergence of new television technologies has created both a challenge and an opportunity for accessory vendors,” said Paul Sabbah, VP/business development, Techcraft Manufacturing, and chairman of CEA’s Accessories division home theater working group.
“Plasma, liquid crystal display, digital light projection and wide screen televisions are selling well, and vendors are adapting their products to meet the new demands of the marketplace. This CEA research helps manufacturers and retailers understand where the profit opportunities are in this new marketplace,” said Sabbah.
“These survey results show the strong influence that the widespread adoption of new digital TV technologies is having on other segments of the industry, such as the home theatre furniture category,” said Sean Wargo, director of industry analysis for CEA. “As consumers rush out to purchase new technology TVs, it makes sense that key accessories, such as furniture stands and displays, would benefit from the increased television sales.”
Other key findings from the survey include feedback on where consumers plan to place the television, with 36 percent of TV owners without high-tech sets placing the set in a cabinet or entertainment center if they bought a new technology TV. Another 34 percent would mount the television on a wall or ceiling and 13 percent would place it on a TV stand.
Nearly 73 percent of all TV owners preferred television furniture that matches the room’s décor, while 18 percent said they would chose furniture that matched the television. Nearly 48 percent of TV owners expressed interest in customizable furniture for consumer electronics products.
In addition, 68 percent of TV owners without high-tech sets said they would buy a flat-panel display if they were to purchase a new tech TV. Some 19 percent said they would buy an LCD screen TV, and 11 percent said they would purchase a rear-projection big-screen TV.
CEA’s “New Tech TVs and Furniture” study is available online at www.ce.org/market_research.
Information about CEA’s Accessories division can be found at www.ce.org/accessories.