Super Bowl to Drive Most TV Sales in 2014
Study from FatWallet.com shows 32 percent of consumers who plan to buy a TV in 2014 will do so over the next 2 weeks during Super Bowl promotion sales. That's more than double Black Friday sales.
How important are the next two weeks to your flat-panel TV sales? Very! CE pros have always known the Super Bowl is big driver of TV purchases, but just exactly how much was a mystery, until now.
According to a new survey from FatWallet.com, 32 percent of consumers who plan to buy a TV in 2014 will do so during Super Bowl sales promotions, surpassing TV sales on Black Friday (25 percent), Cyber Monday (6 percent), the holiday season (18 percent) or any other time of the year.
According to the survey, 30 percent of consumers plan to buy a TV in 2014. The percentages are even higher among men (35 percent) and younger people (38 percent of people under age 30). But the most shocking data is 32 percent plan to buy their TV during Super Bowl promotions.
The survey also reveals that purchasing decisions are influenced most by price (45 percent), followed by TV features (35 percent) and brand (20 percent).
More than half of respondents said they will spend less than $500, 14 percent less than $300, 41 percent between $300-$499, 21 percent between $500-$699 and 24 percent will spend $700 or more.
Samsung was top choice for TV buyers (33 percent), especially with higher annual income shoppers, and is almost twice as popular as Sony (18 percent), followed by LG (16 percent) and Vizio (14 percent) rounding out the top four. Only 4 percent said they will most likely buy a budget brand TV in 2014.
The majority of TV buyers (80 percent) will seek 1080p resolution and more than one third (34 percent) prefer it to have “smart” capabilities (45 percent of people under age 50). Only 6 percent said they will be buying a 4K TV (surprisingly 10 percent for those with an annual income under $30,000), while 14 percent are still satisfied buying a 720p TV.
Mid-size 40- to 54-inch TV models are most popular with 45 percent (56 percent under age 30), while 31 percent will buy a new TV 55 inches or bigger. Only 6 percent will purchase a new TV 70 inches or bigger. More than 7 percent of consumers said they will make their TV purchase via mobile device.
Jason has covered low-voltage electronics as an editor since 1990. He joined EH Publishing in 2000, and before that served as publisher and editor of Security Sales, a leading magazine for the security industry. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He is currently a member of the CEDIA Education Action Team for Electronic Systems Business. Jason graduated from the University of Southern California. Have a suggestion or a topic you want to read more about? Email Jason at [email protected]
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