Higher Income Buyers Scrutinize TV Prices More

According to a study just released that seems to fly in the face of conventional wisdom, the higher a household’s income is, the more it cites lower prices as the most important factor in buying a new TV set.

According to fresh data released on March 25 by iSuppli’s ConsumerTrak service, price was the chief reason cited by about 60 percent of television buyers who had incomes less than $25,000 during the final quarter of 2007. However, consumers with incomes up in the $100,000-$149,000 range placed a somewhat greater emphasis on price—with slightly more than 63 percent citing price as the main reason for a purchase.

For upper-income homes, the second-most important factor was having “a large selection” of sets available onsite at the store (just under 15 percent). Yet for those under $25,000, “store location” was the second biggest factor (15.5 percent).