In September 2021, Hisense, a global consumer electronics powerhouse, commissioned a survey of 2000 US adults to understand what motivates their TV purchase decisions and how they felt about their purchases after bringing them home. What the survey revealed was eye-opening, refuting some common assumptions around pricing, brand recognition, and product quality. Here are the key survey takeaways:
1. Consumers believe that high prices and well-known brands equate to better products — but their experiences reveal otherwise.
“You get what you pay for” — so goes the adage — but when it comes to TVs that story doesn’t necessarily track. Based on the survey, 64% of respondents believe that a high price point and/or well-known brand name (65%) typically equate to a higher quality product. However, 68% of consumers regretted the purchase of a product at the top of its price bracket, while 71% reported having been disappointed with a purchase they assumed would be the best due to having a well-known brand name.
2. Most consumers have been disappointed by tech purchases made in the last year.
There’s little worse feeling than committing to a product purchase based on brand name and online reviews only to be sorely disappointed after it arrives in your home. 52% of survey respondents who made a tech purchase in the last year ended up returning one or more items and 85% reported being disappointed by a tech purchase made in the last year. Why? Consumers say that products were “overpriced” or “fell short in quality”.
3. Consumers want to try products at home before committing to a purchase.
What do the automobile, mattress, and mail-order underwear industries have in common? They’ve all discovered that people want to try out the products before committing to them. In fact, 80% of survey respondents said the exact same thing about a TV – they would be interested in trying a television at home before buying it. Unfortunately, that’s not an option offered by TV manufacturers or retailers.
Hisense’s 100-Day No Regrets Guarantee
Hisense took these and other survey insights to launch a TV industry first, “100-Day No Regrets Guarantee” campaign on their award-winning ULED and Laser TVs. The “Buy it, Try it” program allows consumers to try one of Hisense’s Quantum Dot ULED or L9G TriChroma Laser TVs in-home for 100 days. If they’re not satisfied, Hisense will take the TV back and refund their purchase.
From the Hisense survey, 78% of consumers have purchased a product from a lesser-known brand and feel it’s superior to well-known brand names and Hisense feels strongly that consumers will be more than satisfied with the performance of their premium TV lineup. Learn more about Hisense’s 100-Day No Regrets program at www.hisense-usa.com/100-day-guarantee.