Over the last several years American TV screens have been inching up in size. Overall, installed TVs in the US are larger – 15 per cent are 60 inches or larger, up from 11 per cent a year ago – and newer – the average age is 4.9 years, down from 5.4 years last year – than ever before.
According to NPD’s TV Ownership Trends Report, the average size of a replacement TV jumped to 51 inches from 49 inches in November 2019, and 47 inches in November 2018.
“This year home entertainment became even more crucial as consumers spent more time at home due to the Covid-19 pandemic. TV sales, among other tech items, saw strong interest and as a result we saw notable shifts in the installed base,” stated John Buffone, Executive Director, Industry Analyst within NPD’s Connected Intelligence practice. “Without the ability to go to the movies or live entertainment Americans shifted spending to technology that offered at-home opportunities to consume content.”
In 2020 year to date, TV sales are up 19 per cent compared to the same period in 2019. Through Cyber Monday week, 65-inch TV sales increased 27 per cent vs 2019, while 70-inch and above TVs increased by 82 per cent. In total 65-inch and above TVs made up 21 per cent of sales, increasing from 18 per cent in 2019 and 13 per cent in 2018. We expect that by 2022 65-inch and above TVs will be 27 per cent of sales.
While screen size is a key motivator, features like high-dynamic-range imaging (HDR) and apps are continuing to matter more as consumers consider replacement purchases. In fact, HDR now impacts 13 per cent of replacement TV sales and the availability of apps reportedly impact 31 per cent of replacement TV sales, up from 23 per cent a year ago.
“This year consumers saw the value in bigger screens and newer, more modern technology to support their entertainment needs,” said Stephen Baker, vice president, industry advisor for The NPD Group. “This commitment to new technology and the value it can provide to the consumer will be key for the continued growth in larger screen TVs in 2021 and beyond.”