Report: Online 4K Ultra HDTV Purchases Seeing Growth
Online sales of TV purchases grew 40 percent to $3.2 billion year over year. Samsung led all other brands in online purchases in the period, while Best Buy topped all e-commerce retailers, according to findings just released by market research firm 1010data.
The report shows the months of November and December combined accounted for 45 percent of all online TV sales over the past year.
In conducting the study, data analytics platform “1010data” analyzed online sales from the TV category between October 2015 and September 2016.
In that time, Samsung ranked No. 1 among TV brands with 39.9 percent of online sales, growing six points in market share from the same period last year, when it also topped all TV brands. Vizio ranked second at 17.5 percent, followed by LG at 11.1 percent, Sony at 6.1 percent and TCL at 4.5 percent.
Read more about the growth of TV sales online after the jump:
By retail e-commerce platform, online TV sales at Best Buy grew six points year over year to 29.8 percent to claim the top spot in online TV sales. Amazon Direct was second at 21.6 percent and Amazon Marketplace was third at 7.7 percent. Walmart saw its online TV sales decline in the period to 23 percent, which 1010data attributed to Best Buy’s aggressive growth.
The study revealed more and more consumers are finding it preferable to purchase a television online rather than compete with other shoppers in a brick-and-mortar store environment during Holiday promotional periods.
Most online TV purchases are made in the month of November, with slight spikes in February and July, likely due to seasonal promotional sales, the firm stated.
Despite Samsung’s six-point market share gain of online purchases over the course of the study, Vizio registerd a 5-point loss in market share. LG, Sony and TCL experienced gains.
“Samsung holds the top spot and, along with LG, is likely benefiting from integrating their smart TVs with their other smart/connected home products,” the 1010data report concludes. “However, brands with more affordable models, like Sceptre, TCL and RCA are increasing in demand. It will be interesting to see how TV sales break down online this November and what kind of deals brands and retailers will promote to drive sales.”
The market research firm said “TCL holds some of the top spots when it comes to most popular items, which is contributing to their relative market share growth and Vizio’s decline.”
While half of Best Buy and Amazon’s sales come from Samsung TVs, Walmart generated most of its online TV sales from Vizio and Sceptre. Newegg, which had been seeing growth in the past, showed a year over year decline in online TV sales in the period, but 1010data said “Best Buy’s success proves that not all category-specific retailers are in jeopardy.”
Most of TV’s top ten brands by product views are also in the top 10 based on sales. Samsung and Vizio still hold the top spots, but each brand had an 8-point share loss year over year. Brands with lower price points, like Seiki, Sharp and Toshiba, experienced an improvement in ability to convert views into purchases. Brands like LG that experienced flat product view growth can invest more in advertising online to drive business to their product pages across all e-retailers.
By Greg Tarr
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