Awareness of Smart TV Attributes Increases Likelihood of Purchase
A majority of consumers aren’t interested in buying a new smart TV. Some 73% of consumers have given a thumbs down to buying a new smart TV over the next 12 months, according to a survey from TV Systems Intelligence Service unit of IHS. But advertising the technology's strong attributes could help turn that indifference around.
Veronica Thayer, analyst for consumer electronics and technology at IHS, stated: “Few consumers at present want to buy smart TVs now. However, demand can be cultivated if television brands better explain to consumers what smart TVs are, what they do and why they should buy one.”
Those elements which should be touted, according to IHS: online interactivity, Internet television, home networking, over-the-top content and on-demand video streaming capabilities.
Almost 90% of smart TV owners connect their sets to the Internet; 80% of them to services such as Netflix, Hulu Plus, Amazon and Instant.
Overall, during the next 12 months, 20% of consumers intend to buy a TV compared to projections of 31% in 2012. In 2012, IHS says 50% of consumers stated that screen size was the factor in their purchase decision. Now, in 2013, price has overtaken larger screen size as the main factor in TV purchase.[Source: "U.S. TV Consumer Survey." TV Systems Intelligence Service unit of IHS. 29 Oct. 2013. Web. 31 Oct. 2013.]