Consumers Replacing TVs Faster to Get Larger Screens, Better Features, Says NPD
The average U.S. TV was 4.9 years old in 2020, 9% younger than in 2019, while screen sizes are growing at a 2-inch yearly clip, reported NPD Tuesday. The average size of a replacement TV rose to 51 inches from…
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49 inches in November 2019 and 47 inches in November 2018. Some 15% of installed TVs are 60 inches or larger, up from 11% a year ago. While screen size is a key motivator, features like HDR and streaming apps are continuing to carry weight as consumers consider replacement purchases, said the research firm. HDR now factors into 13% of replacement TV sales and apps, 31%, said a consumer survey of 5,000 U.S. adults Oct. 20-Nov. 12. Year to date, TV sales are up 19% over 2019, spurred by stay-at-home trends during the pandemic. Larger screen sizes are having the most growth. Through Cyber Monday week, 65-inch TV sales rose 27% year on year; 70-inch and above jumped 82%. In total, 65-inch and larger TVs made up 21% of sales, up from 18% in 2019 and 13% in 2018. NPD predicts the segment will be 27% of sales by 2022.