Indian consumers are upgrading their TV sets as early as 8 years now thanks to the pandemic
- As per technology research and consulting firm Cyber Media Research and Services, the average shelf life of a television set is reducing in India.
- Consumers are looking to update their television sets more frequently.
Internet-connected televisionsets are selling like hot cakes in the industry.
AdvertisementGone are the days when Indian consumers would hold on to their television sets for more than a decade. Now, the average time taken to upgrade a television set has fallen to 8 years.
As per a new study by CyberMedia Research (CMR), a technology research and consulting firm, “three in every five consumers use their television for eight years before upgrading to a new set.”
“Urban consumers are changing TV sets more frequently, every 7.5 years. On the other hand, Tier II and Tier III consumers tend to stick to their TV sets for 8.5 years on average,” said Prabhu Ram, Head-industry consulting group, CMR.
In-home entertainment has taken an entirely new meaning after the pandemic. Consumers are looking to upgrade their entertainment experiences inside their homes as they spend more time with their loved ones.
“After spending two long years at home, the living room is the centre of consumer(s’) lives. The prolonged isolation is driving consumers to upgrade to the latest and the best option, by shopping online for Smart TVs, on platforms such as Amazon,” said Ram.
More consumers open to
According to the report, three in every five offline TV buyers are keen on exploring purchasing their next TV online.
Preference for full high-definition TV with better image quality, sound clarity and screen size has risen substantially and helped in shifting the trend.
Cord-cutting – or the practice of forgoing a pay television subscription or landline in favour of an alternative internet-based or wireless service – is now a key trend amongst consumers, with internet connectivity in TVs being a key purchase driver.
“Beyond the born-on-the-internet generation, our study findings point to a shift in the mindset of traditional offline consumers. While touch and feel has been a key part of their purchase journey, they are now more open to exploring TV purchase online. Trust, convenience and value are the key purchase drivers,” said Ram.
AdvertisementOnline consumers prefer Amazon over Flipkart, Reliance Digital and other e-commerce platforms. It scored highest on brand trust (71%), convenience (67%) and value (65%).
On the other hand, most of the offline TV purchases in Tier I cities occur in Croma.
Tier II consumers seem to prefer convenience as they said that they purchased a
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