Increasing consumer interest and awareness is accompanying 4K TV sales growth. Consumer demand for 4K streaming video services will be quick to follow with one in five consumers already expressing interest, according to NPD Connected Intelligence. Despite adoption of 4K Ultra-High Definition TVs only beginning to ramp up in 2015, over half of individuals surveyed said they were aware of these products, according to The NPD Group Connected Intelligence Connected Home Entertainment Report.
That statistic increases among men, and spikes to 73 percent among consumers that own an internet-connected TV. Consumer interest is also strong with one-third of individuals saying they are very or somewhat likely to use a 4K UHD TV in the future. As with consumer awareness, interest spikes among men and those that own an internet connected TV. Additionally, interest is much stronger among Millennials. Consumer demand has already resulted in over six million 4K UHD TVs being sold through April 2016*.
Retailers can talk the 20.5% of Americans shopping for Hi-Def TVs into 4K options, according to AudienceSCAN research.
“While sales are spiking and demand is high, 4K UHD TVs remain an early adopter product,” said John Buffone, executive director, industry analyst, NPD Connected Intelligence. “Our data shows that just eight percent of consumers say they have used a 4K UHD TV. But, all of the trends point towards rapid growth during 2016 and beyond.”
AudienceSCAN reports that High-Definition TV Shoppers are 44% more likely than average consumers to respond to television commercials, so be sure to feature 4K TVs in TV spots.
Along with growing hardware adoption there continues to be more 4K UHD content available on TV, Blu-ray Disc and from market leading streaming services such as Netflix and Amazon. Increased consumer desire for and awareness of 4K streaming video services has accompanied the growing adoption of 4K TVs. One-third, 32 percent, of individuals surveyed are already aware of 4K streaming services, reports NPD Connected Intelligence. Awareness increases to 42 percent among 18- 34-year-olds, with 32 percent also interested in using the services.
Radio also can be effective in reaching Hi-Def TV Shoppers, AudienceSCAN reveals. They are 52% more likely than average shoppers to take action based on spots they heard in the past month.
“Demand for 4K video is only beginning to proliferate,” said Buffone. “Streaming video providers have been leading the market in terms of delivering 4K UHD content, and we expect them to continue to increase their programming array to satisfy growing consumer demand.”