On the Compete blog, we’ve looked at how people are shopping for high-definition televisions (HDTVs) and found that interest is booming despite the tough economy.
We recently conducted a survey where we asked respondents what consumer electronics products they planned on purchasing over the next 12 months. HDTVs led the way, with 25% of all respondents indicating that they planned on purchasing one in the next year.
So who are HDTV shoppers? Does this product category attract younger consumers, who seem ready to splurge on the latest and greatest technology, or are HDTVs a product that people young and old alike have on their must-buy list?
As expected, we found that younger consumers were more likely to say they’re planning to buy most CE products. However, the picture changes when looking at HDTV shoppers.
The trend shown for respondents who expected to purchase an MP3 player or video game console is a good example of what we see for most other CE products: those in the 18-34 age bracket are most likely to say they are planning to buy the product in the next 12 months, with progressively lower proportions of people in the more senior age groups planning a purchase of the same item. As we can see in the graph, the HDTV trend is completely different, with each age bracket having a roughly equal share of respondents who are planning to buy one in the next year.
Why are consumers so interested in buying an HDTV in 2009? Across all age groups, just over half of those planning to purchase an HDTV said that a motivating factor behind the purchase would be to replace a current product. A desire to enjoy an increasing number of HD television channels, and other high-resolution content like Blu-Ray may also be a factor. Finally, the upcoming analog TV signal shutdown may be driving consumers of all ages to consider replacing their older sets.
Whatever the reasons, the appeal of upgrading to an HDTV seems to know no age boundaries.
For more results from the CEA/Compete study, click here.
Interested in learning more about how consumers shop for and use Consumer Electronics? Join us at 2 p.m. EST on February 5th for our next webinar featuring results from a joint study with the Consumer Electronics Association on older Americans and technology. Click here to register.