“1 in every 10 Americans will buy a TV during Super Bowl Sales**”
FatWallet announces 2014 TV Buying Survey:
The new survey (*TNS Global) reveals some interesting consumer buying trends for TVs, especially related to the upcoming Super Bowl. With TV purchases increasing each January (1M in 2005 to >7M in 2013), the survey verifies the growth claiming it’s now the #1 time of year people say they will buy a TV.
Of those surveyed online, 30% said they will purchase a new TV this year (35% males, 25% females and 38% under age 30). Almost one third of those will buy a TV during Super Bowl sales. The survey also reveals that their purchasing decisions are influenced most by price and the majority will spend less than $500. See Infographic.
Below are the full survey results for those that said they will purchase a new TV this year:
Super Bowl Drives Big TV Sales!
Q: During which sales event are you most likely to make a new TV purchase?
- 32% said Super Bowl Sales
- 25% said Black Friday Sales
- 8% said December/Holiday Sales
- 6% said Cyber Monday
- 28% said a variety of Other Seasonal Sales
Of Note: Almost half of Boomers will buy a TV during Super Bowl Sales (46%), the other half (47%) during Black Friday. While only 6% will buy a TV on Cyber Monday, that number more than doubles to 14% for those under age 30.
The Price Is Right.
Q: Which category is most important when purchasing a new TV?
- 45% said Price
- 35% said Features
- 20% said Brand
Of Note: Seniors (age 60+) say Brand (38%) beats Price (29%). More than half of those with children (54%) say price is the big factor.
Let’s Make a Deal.
Q: How much do you plan to spend on a new TV?
- 14% said Less than $300
- 41% said $300-$499
- 21% said $500-$699
- 24% said $700 or more
Of Note: While 41% will spend between $300 – 500, that number increases to 52% for those with an annual income under $30k. 1 in 4 will plan to spend more than $700, 40% with an annual income over $75k, and 9% with an annual income under $30k.
9 in 10 want major brand names.
Q: Which TV brand do you plan to purchase?
- 33% said Samsung
- 18% said Sony
- 16% said LG
- 14% said Vizio
- 6% said Panasonic
- 3% said Sharp
- 4% said Budget Brands
- 6% said Other
Of Note: LG was most popular with Midwest TV Buyers (34%) and Sony most popular brand for lower income shoppers (25%).
Size does matter!
Q: What size new TV will you purchase?
- 24% said 39” or less
- 45% said 40” – 54”
- 25% said 55” – 69”
- 6% said 70” or bigger
Of Note: Nearly 1 in 3 (31%) will buy a new TV 55” or bigger. While only 6% will purchase a new TV 70” or bigger, 15% for those on West Coast want a giant screen.
86% want some clarity.
Q: Which feature is most important when purchasing a new TV?
- 14% said 720p HDTV
- 46% said 1080p HDTV
- 34% said 1080p HDTV (Smart/3D)
- 6% said 4K
Of Note: More than one third (35%) want a smart TV, 45% under age 50 or on the West Coast. Only 6% want a the pricey new 4K HD technology, but surprisingly 10% of those with an annual income under $30k want 4k.
Mobile Commerce gets in the game.
Q: Which way are you most likely to make a new TV purchase?
- 76% said In-store
- 15% said Laptops
- 4% said Smartphones
- 3% said Tablets
- 2% said Other
Of Note: 7% said they will buy a TV via their mobile device-expect that number to grow by the end of the year.
*The national survey conducted online by TNS on behalf of FatWallet.com in July 2013 was fielded among 1,000 adults ages 18 or older. **Based on 10% of all surveyed who said they will purchase a new TV in 2014 during Super Bowl Sales.
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