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Flat-Panel TV Sales Poised to Be Anything But Flat

August 3, 2006
Consumers are making room for new TVs and the devices and services that enhance their TV viewing experience, according to a new report by consumer and retail information company, The NPD Group. The report examines what types of TVs and devices are currently in the consumer’s home and what they plan to purchase in the next 12 months.

Nearly 40 percent of TV owners surveyed plan to purchase a new television within the next 12 months, with 15 percent leaning towards LCD and 12 percent towards plasma, an 11 percent and one percent increase over purchase intent from 2005, respectively.

Only two percent planned on purchasing a rear projection TV, unchanged from 2005, and eight percent were considering a standard TV purchase, a two percent decrease from last year.

"Consumer interest in flat-panel TVs continues to grow," said Ross Rubin, director of industry analysis, The NPD Group. "The increased interest in LCD can be attributed to greater awareness, lower prices and more versatile scenarios for these sleek televisions."

According to the survey, 52 percent of consumers want their new TV to have an easy setup and 27 percent want it to have wall-mount capabilities. Only 13 percent of current LCD TV owners and 25 percent of plasma TV owners say their set is mounted on the wall.

"Consumers are drawn to flat-panel technologies for their wall-mounting capabilities," said Rubin. "But the difficulty of such an installation often leads them to explore alternatives such as stands or retailer installations."

Nearly 75 percent of consumers surveyed want to increase the screen size of their TV with their next purchase. Nineteen percent want a TV that’s 27 to 32 inches and 17 percent are looking to go larger with a 40 to 42 inch TV.

According to the report, 54 percent of consumers looking to purchase a new TV say one of the biggest influencers is upgrading to newer technology. Thirty four percent want high-definition and 14 percent want to take advantage of high definition DVDs, both HD and Blu-ray. Sixty three percent of consumers say they want their next TV to be HD ready. However, despite the number of consumers who want the HD experience, 40 percent are still unsure of what it is and what its benefits are.

"As HD prepares to move into the mainstream, the game changes," Rubin said. "Manufacturers and retailers must partner to clear up lingering misconceptions and help consumers recognize that a high-definition flat-panel TV is more than just a slim profile."

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