Kantar Worldpanel ComTech is predicting a significant rise in television sales ahead of the 2018 FIFA World Cup later this month.
It’s estimated that one in eight consumers plan to buy a new set in the next 12 months and manufacturers and retailers are looking to cash in on the opportunity. Typically, those looking for a new device in the run up to major sporting events also sit a higher spending price bracket.
“The British market for large screen televisions has quadrupled over five years and in the past six months more than a fifth of all consumers who bought a TV settled on models bigger than 55 inches,” said Piers Moore, global director at Kantar Worldpanel ComTech. “Large screen televisions have become a battleground for manufacturers, especially the big three – Samsung, Sony and in particular LG, which is outperforming the competition in Great Britain. We see the same trends across Europe, where some local brands have forced their way into the space – it’s an area they all want to focus on because it guarantees a more premium customer.”
Improvements in technology mean that big screen sets are becoming cheaper without a reduction in picture quality. OLED and QLED units, which five years ago accounted for less than 1% of television purchases and now have 15% and 3% respectively.
Says Moore: “OLED and QLED technology has reshaped the British TV industry over the past five years. Their growth is even more stark in the large screen sector, were OLED now accounts for 32% of all purchases over the past half year – in 2013 it was zero. And, while the cost for OLED and QLED units hasn’t quite fallen into the mainstream price range yet, they are slowly becoming more affordable.”
Meanwhile, LED screens accounted for 54% of large screen purchases in the past six months.
Kantar Worldpanel ComTech’s data also revealed the differences in how consumers across Europe approach television purchases. The British are significantly ahead of their European counterparts when it comes to prioritising design and style and, alongside the French, they demand the biggest screen size. The Germans rank energy ratings and efficiency above all else, though this is a low priority in most other European countries.
