ENGLEWOOD, COLO. — TV is back in business.
According to a poll conducted one week out from Thanksgiving, 34 percent of consumers plan to buy at least one TV this holiday season.
What’s more, more than two thirds (68 percent) plan to buy CE, with shoppers looking to spend an average of $769 on their yuletide tech.
The report, by market research firm IHS, suggested that “very high” consumer confidence levels are driving CE demand, as “nearly half of respondents indicated a willingness to spend more than $500 on electronics for the holidays,” noted senior analyst Veronica Gonzalez-Thayer.
Within TV, 29 percent of consumers said they are willing to pay more for 4K/UHD resolution, and 34 percent said smart features are worth the extra scratch.
“The consumer preference for premium features is good news for TV manufacturers, who are trying to leverage on these to increase profits and augment demand,” Gonzalez- Thayer observed.
As for brand preference, 66 percent said they’ll buy an LG, Samsung, Sony or Vizio set, although IHS expects that steep promotions will also steer buyers to tier-three badges.
And apparently size doesn’t matter when it comes to TV real estate. Twenty- three percent of those polled intend to purchase a 50- to 59-inch display, while 22 percent expect to buy a TV with a screen size of 40 to 45 inches.
As to where they’re buying all this holiday CE, neither in-store nor online wins out. In fact, only 15 percent of consumers plan to limit themselves to one channel only, while nearly two thirds (67 percent) plan to buy electronics both online and in stores.
Amazon leads the retail pack when it comes to planned holiday CE purchases this year, with 76 percent of survey respondents indicating they will purchase from the No. 1 e-tailer, followed by Walmart (73 percent), Best Buy (66 percent) and Target (63 percent).