TV size outranks price in consumer choice

Few things are a more iconic representation of a traditional U.S. home than a big TV in the living room.

And while smartphones are pacing to reach TV ownership rates within the next five years, consumers still place value on large screens in living rooms and are willing to spend more to have them, according to recent data from NPD Connected Intelligence.

In releasing its most recent “TV Ownership Trends Report,” the market research firm noted that among three reasons for purchasing a replacement 4K Ultra TV — larger screen, better picture quality, more affordable pricing — bigger was cited by consumers as No. 1. Of the consumers who purchased a 4K/UHD replacement TV, 45 percent cited a larger screen as the No. 1 desire, while 39 percent shelled out for better picture quality and 24 percent because pricing became more affordable.

Nearly two-thirds (62 percent) of these TVs were installed in the living room, with the average size display for this room listed at 52 inches.

The average replacement screen size for all other rooms, meanwhile, was 43 inches.

See: What Shoppers, And Retailers, Want In TVs, According To Samsung

Unsurprisingly, 4K/UHD adoption rose, with the number of respondents replacing an existing TV with a 4K/UHD TV growing to 28 percent in February, up from 23 percent in November 2017.

“While the number of installed TVs per U.S. 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,” said Stephen Baker, VP, industry advisor for NPD. “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.”

Baker observed that 90 percent of the installed base of TVs in the U.S. is not yet 4K/Ultra HD.

“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,” he added.

See: The TV Business Is Back & Retailers Are Tuning In

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