Almost half of consumers who will buy a TV this year will buy their first 4K Ultra HD TV, the survey also found.
In its annual TV-buying survey, the online-coupon and cash-back shopping site found that 26 percent of Americans will buy a new TV in 2016, and 46 percent of those people will buy their first 4K TV. Only 4 percent of consumers said they already own a 4K TV.
As for when they’ll buy, 25 percent will buy during Super Bowl sales, representing a 47 percent increase from 2015 in the actual number of consumers buying at that time. A total of 18 percent will buy during Black Friday sales, down 40 percent from the previous survey. Another 4 percent will buy during Cyber Monday, and 7 percent will buy in December. The remaining consumers will buy at other times of the year.
The survey also found that:
–A plurality of consumers wants mid-size screens of 40 to 54 inches.
–Younger consumers and those with children have a higher intent to buy.
–Consumers with children will spend more on a new TV than consumers without kids.
— Consumers younger than 30 will spend less on a TV than other age groups.
Size matters: Among those planning to get a new TV, 41 percent said they want a TV with a screen size of 55 inches or larger, while 43 percent want midsized screens of 40 to 54 inches. Only 5 percent said they will buy a 70-inch or larger TV, though that percentage jumps to 9 percent among people under the age of 30.
Family size matters: Although 26 percent of consumers overall plan to buy a TV this year, 40 percent of consumers with children plan to buy, as do 35 percent of people younger than 30, Fat Wallet said.
Budgets: As for what consumers plan to spend, 55 percent said they would spend $500 or more on a new TV, though among consumers with kids, the percentage jumps to 64 percent. A total of 27 percent will spend $700 or more, and the percentage jumps to 35 percent among baby boomers.
Among all consumers, 45 percent will spend less than $500, though that percentage jumps to 63 percent among consumers under the age of 30.
Almost half, or 46 percent, called price the most important factor in making a purchase, and that percentage spiked to 60 percent for those who are less than 30-years-old. Features came in second at 36 percent, while 18 percent said brand is their most important consideration.
How they’ll buy: One in four said they will buy their new TV online or via mobile, with males more likely to do so. Thirty percent of males will do so compared to 18 percent of females.
What they watch: In another finding, FatWallet said three in 10 of the consumers planning to buy a TV stream the majority of their TV programming. That percentage jumps to almost 70 percent for those under age 30, up from 43 percent in 2015. In total, 64 percent of all consumers use cable as their main source of TV content.