Continuing a trend from over the last few years whereby more seems to be more, American TV screens have been inching up in size and overall installed sets in the country are not only considerably larger but customers are buying new TVs more frequently according to research firm NPD.
The TV Ownership Trends Report was completed between 20 October and 12 November 2020, reaching 5,000 US consumers, aged over 18 from diverse regions and demographical backgrounds. It focussed on more than 12,000 TVs installed within nearly 35,500 household rooms.
Among the key findings revealed in the were that 15% of sets in US are 60 inches or larger in size, up from 11% a year ago and the average age of sets is 4.9 years, down from 5.4 years a year ago. In addition 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 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 were up 19% compared with 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. NPD expects that by 2022 65-inch and above TVs will be 27% of sales.
While screen size was revealed to be a key motivator for sales, the study also found that features such as high-dynamic-range imaging (HDR) and apps were continuing to matter more as consumers considered replacement purchases. HDR impacted as many as 13% of replacement TV sales and the availability of apps reportedly impacted 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,” added Stephen Baker, vice president, industry advisor for The NPD Group on what was revealed in the TV Ownership Trends Report. “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.”
Among the key findings revealed in the were that 15% of sets in US are 60 inches or larger in size, up from 11% a year ago and the average age of sets is 4.9 years, down from 5.4 years a year ago. In addition 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 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 were up 19% compared with 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. NPD expects that by 2022 65-inch and above TVs will be 27% of sales.
While screen size was revealed to be a key motivator for sales, the study also found that features such as high-dynamic-range imaging (HDR) and apps were continuing to matter more as consumers considered replacement purchases. HDR impacted as many as 13% of replacement TV sales and the availability of apps reportedly impacted 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,” added Stephen Baker, vice president, industry advisor for The NPD Group on what was revealed in the TV Ownership Trends Report. “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.”
