“This commitment to new technology and the value it can provide to the consumer will be key for the continued growth in larger screen TVs in 2021 and beyond.”
PORT WASHINGTON, N.Y. (PRWEB)
December 23, 2020
Over the last several years American TV screens have been inching up in size. Overall, installed TVs in the U.S. are larger – 15% are 60 inches or larger, up from 11% a year ago – and newer – the average age is 4.9 years, down from 5.4 years last year – than ever before. According to NPD’s TV Ownership Trends Report, the average size of a replacement[1] TV jumped to 51 inches from 49 inches in November 2019, and 47 inches in November 2018.
“This year home entertainment became even more crucial as consumers spent more time at home due to the COVID-19 pandemic. TV sales, among other tech items, saw strong interest and as a result we saw notable shifts in the installed base,” stated John Buffone, Executive Director, Industry Analyst within NPD’s Connected Intelligence practice. “Without the ability to go to the movies or live entertainment Americans shifted spending to technology that offered at-home opportunities to consume content.”
In 2020 year to date, TV sales are up 19% compared to the same period in 2019. Through Cyber Monday week, 65-inch TV sales increased 27% vs. 2019, while 70-inch and above TVs increased by 82%. In total 65-inch and above TVs made up 21% of sales, increasing from 18% in 2019 and 13% in 2018[2]. We expect that by 2022 65-inch and above TVs will be 27% of sales[3].
While screen size is a key motivator, features like high-dynamic-range imaging (HDR) and apps are continuing to matter more as consumers consider replacement purchases. In fact, HDR now impacts 13% of replacement TV sales and the availability of apps reportedly impact 31% of replacement TV sales, up from 23% a year ago.
“This year consumers saw the value in bigger screens and newer, more modern technology to support their entertainment needs,” said Stephen Baker, vice president, industry advisor for The NPD Group. “This commitment to new technology and the value it can provide to the consumer will be key for the continued growth in larger screen TVs in 2021 and beyond.”
[1] Replacement TVs are defined as those purchased to replace an existing household TV.
[2] The NPD Group, U.S. Weekly Retail Tracking Service, LCD TVs, dollar sales, Jan. 5, 2020- Dec. 5, 2020.
[3] The NPD Group/Future of Tech Report.
Methodology
The results of The NPD Group’s Connected Intelligence TV Ownership Trends Report are based on NPD’s quarterly Device Tracking survey, which reaches 5,000 U.S. consumers, aged 18+ from diverse regions and demographical backgrounds. They report on more than 12,000 TVs installed within nearly 35,500 household rooms. This survey was completed between October 20 and November 12, 2020.
About Connected Intelligence
Connected Intelligence provides competitive intelligence and insight on the rapidly evolving consumer’s connected environment. The service focuses on the three core components of the connected market: the device, the broadband access that provides the connectivity and the content that drives consumer behavior. These three pillars of the connected ecosystem are analyzed through a comprehensive review of what is available, adopted, and consumed by the customer, as well as reviewing how the market will evolve over time and what the various vendors can do to best position themselves in this evolving market. For more information: http://www.connected-intelligence.com.
About The NPD Group, Inc.
NPD offers data, industry expertise, and prescriptive analytics to help our clients grow their businesses in a changing world. Over 2,000 companies worldwide rely on us to help them measure, predict, and improve performance across all channels, including brick-and-mortar, e-commerce, and B2B. We have services in 19 countries worldwide, with operations spanning the Americas, Europe, and APAC. Practice areas include apparel, appliances, automotive, beauty, books, B2B technology, consumer technology, e-commerce, fashion accessories, food consumption, foodservice, footwear, home, juvenile products, media entertainment, mobile, office supplies, retail, sports, toys, and video games. For more information, visit npd.com. Follow us on Twitter: @npdgroup.
Share article on social media or email: