HD TV Market Booming Say GFK Price A Big Driver

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The Australian market is cluttered with 23 different TV brands say research Company GFK who also said that HD TV sales increased by 38% in the first half of 2008. Among consumers the big issue is price.

The Australian market is cluttered with 23 different TV brands  say research Company GFK who also said that HD TV sales increased by 38% in the first half of 2008. Among consumers the big issue is price.

The lead-up towards the Beijing Olympics saw unit sales of LCD TVs increase by 52% in the first six months of 2008 and Plasma TVs increase by 38% (compared to 1H 2007).  Sales of flat panel TVs were stimulated by falling prices as average LCD TV prices dropped by 18% (down AU$293 to AU$1,369) between Q2 2007 and Q2 2008.   Average Plasma TV prices experienced an even larger proportionate decline, with a year-on-year reduction of 26.3% (down AU$668 to AU$1,871). 

According to GfK Retail and Technology the TV market is highly competitive, with the top 100 selling models in the year to June 2008 accounting for 61% of the market and represented by 23 different brands. 

GfK’s ConsumerScope TV tracking studies in Australia indicate that price and ‘value-for-money’ factors are the most important factors driving flat panel TV purchases. “Price” is the most important factor overall among recent flat panel TV buyers, with “picture quality” the second most important factor.  Interestingly, among buyers of larger (over 42 inch) and more expensive (AU$2,000+) TVs, picture quality is actually a more important factor than price. However this can be explained by the fact that buyers of larger, more expensive TVs tend to have higher household incomes.

The importance of price/value has also been observed in GfK’s ConsumerScope tracking studies in other categories, where recent PC, Mobile Phone and Digital Camera buyers have also indicated that price/value is the single most important factor when purchasing these products.

GfK Retail and Technology specialises in researching and reporting on the market for Consumer Technology, IT products, Telecommunications, Office Communications, Electronic Entertainment, Household Electrical Appliances and Photographic Equipment. 

GfK’s retail tracking data is based on GfK’s retail audit panel.  Each week, retailers on the panel report their sales figures (units and AU$ value) for the relevant product groups. These figures are captured on GfK’s research database, aggregated and reported each month to subscribers.

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