PORT WASHINGTON, N.Y.—It is often said bigger is better, and Americans are affirming that belief when it comes to their TVs, as a recent NPD Group research report finds that more U.S. consumers are opting for bigger TVs. The report also finds that consumers are taking less time between buying a new TV.
According to NPD’s “TV Ownership Trend Reports,” the number of installed TVs in the U.S. that are 60 inches or larger has increased to 15% from 11% from NPD’s previous report. Also, when consumers are buying a new TV, the average size of the replacement has gone up from 49 inches in November 2019 to 51 inches.
As far as how frequently people are updating their TVs, NPD found that the average age of installed TVs is 4.9 years, compared to 5.4 years in 2019.
Through November 2020, per NPD, TV sales were up 19% compared to the same period in 2019; this includes the percentage of TV sales for bigger models. TVs coming in at 65 inches were up 27%, while 70-inch and above TVs were up 82%. Combined, 65-inch and above TVs accounted for 21% of sales, up from 18% in 2019. NPD expects that number to increase by 2022 to about 27%.
There are other factors that consumers factored in when purchasing a new TV. HDR reportedly impacted 13% of replacement TV sales, while the availability of apps were a factor in 31% of sales, up from 23% in 2019.
“This year consumers saw the value in bigger screens and newer, more modern technology to support their entertainment needs,” said 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.”
Like most things in 2020, the pandemic also had an impact. As John Buffone, executive director, industry analyst with NPD’s Connected Intelligence, detailed, with people advised to stay at home and spending on other forms of entertainment (live events, movies) almost non-existent, U.S. consumers shifted that spending to improve their at-home experiences.
For more information, visit www.npd.com.
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