TVs are big on consumers' Christmas shopping lists

  • TECH
  • Wednesday, 26 Nov 2014

HIGH PRIORITY: Television sets are high on holiday season shopping lists. — AFP/Relaxnews 2014

Over two thirds of US consumers are going to spend big on high-tech gifts and gadgets this holiday season and for many, snagging a new TV set is going to be a priority. 

Market information and analytics company IHS has released the results of its 2014 US Holiday CE Consumer Survey, which — like many other recent studies — highlight that consumers have a newfound confidence in the economy and that this optimism will translate into bigger and more adventurous tech-based purchases. 

"While the fourth quarter is always the most dynamic in terms of sales, mostly due to holiday spending, this year consumer confidence is very high," said Veronica Gonzalez-Thayer, senior analyst for consumer electronics at IHS Technology. 

"Nearly half of respondents indicated a willingness to spend more than US$500 (RM1,675) on electronics for the holidays." 

In fact, the average amount consumers are willing to spend between now and the end of the year is US$769 (RM2,576), and while those surveyed expressed an interest in grabbing a new smartphone, tablet, notebook or games console, just over one third (34%) of consumers getting ready to spend on tech over the coming weeks are focused on buying at least one television. 

A number of other insights and consultancy companies have already labelled the 2014 holiday season as the moment where ultra high definition TVs could jump from obscurity and into the mainstream in the US. 

At the beginning of the month, Stephen Baker, vice-president of industry analysis, The NPD Group, Inc, noted that: "[2014] has been a year of increased awareness and an evolution in pricing for 4K/UHD TVs," he said. 

"4K/UHD was still very new to the market during the 2013 holiday shopping season, but we believe it will exceed everyone's expectations this year as consumers have had a full year to learn about the benefits 4K/UHD brings to the market." 

And, when asked, 29% of potential TV-buying respondents in the IHS Technology study said that 4K/UHD was ranked as the feature they wanted most and were willing to pay a premium to get. 

As for size, a 50in to 59in screen is the most popular choice (23%) followed by a 40in to 45in TV set (22%). 

According to NPD Group's data, between January and October, 55in and 60in displays are currently the most popular with 4K UHD TV buyers in the US; accounting 70% of ultra high definition TVs sold over the first 10 months of the year. — AFP/Relaxnews 2014  

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