NPD: Bigger Screens, HDR Driving TV Replacements
U.S. consumers continue to gravitate to larger and larger TV screen sizes with the number of installed sets measuring 60-inches and larger, up 15% from a year ago, according to data recently released by U.S. market research firm NPD.
At the same time, the average age of a television in an average U.S. home is younger than ever before at 4.9 years, down from 5.4 years in 2019.
The findings were part of NPD’s TV Ownership Trends Report which found the average size of a replacement 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. “Without the ability to go to the movies or live entertainment Americans shifted spending to technology that offered at-home opportunities to consume content.”
So far this this year, U.S. TV sales are up 19% compared to the same period a year ago, NPD found. Through Cyber Monday week, 65-inch TV sales increased 27% from the same time in 2019, while 70-inch and above TVs increased by 82%. In total 65-inch and above TVs made up 21% percent of TV sales to endusers, increasing from 18% in 2019 and 13% in 2018. NPD forecasts that by 2022 65-inch and larger TVs will account for 27% of sell-through retail sales.
NPD said screen size has increasingly become a key purchasing motivator for a TV replacement model, along with features including high dynamic range (HDR) and popular media streaming apps.
NPD research found HDR now impacts 13% of replacement TV sales and the availability of apps reportedly drives 31%, up from 23% last year.
“This year consumers saw the value in bigger screens and newer, more modern technology to support their entertainment needs,” stated 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.”
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By Greg Tarr
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