Customers who recently purchased a high-definition television cite picture quality and price as the two primary reasons for selecting their TV, according to a recent report from J.D. Power. According to the report, there is also a notable shift in customers’ selections of HDTV technology year over year. In 2013, a larger percentage of customers have purchased LED televisions (44%) vs. LCD (39%) or plasma (17%) televisions, compared with LCD (41%), LED (33%) and plasma (19%) in 2012.
According to new consumer research from Leichtman Research Group, 69% of households in the United States have at least one high definition television set, up from 17% in 2006. Over the past five years, 52% of US households adopted HDTV. In addition, 21% of all households purchased a new TV set in the past 12 months, and 19% of all households plan to purchase a new TV set in the next 12 month.
With more consumers owning HDTV sets and more stations offering programming in this rich format, advertisers should be rolling out more ads to make their products and commercials look their best. For a while, the costs and complexity to shift to HD were prohibitive. But that has changed and industry experts predict that more local and regional marketers will be making the move to the HD format.
Besides high-definition televisions (HDTVs) and laptops, which are becoming more popular, usage of all other CE devices by kids ages 4-14 is stable or down from 2009, according to a new report from The NPD Group. Televisions (both standard and high definition) remain the most widely used consumer devices among kids with 74% of kids in this age group watching TV, while computers (both desktop and laptop) are second at 70%. Thanks in part to lower price points for HDTVs, when asked about their future purchase intent in the next 12 months, parents are just as likely to purchase HDTVs for their kids as they are to purchase cell phones or digital cameras, showing the increasing popularity of this CE device. In fact, 18% of parents surveyed stated they plan on purchasing an HDTV for their kid in the coming year, while only 17% plan on purchasing a cell phone or digital camera.
As one of the biggest TV-viewing events of the year approaches, Super Bowl 44, retailers and manufacturers may wonder if the market for HDTVs holds any potential for growth. A study by the Leichtman Research Group indicates that while 50% of U.S. households currently have an HDTV, a sizeable portion of consumers still has an interest in making this purchase – sooner rather than later.