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ClickIQ: Survey Shows Flat Panel Buyers Want Another One Soon
Jan 12, 2009 (Close-Up Media via COMTEX) --
One in five respondents of a recent ClickIQ survey indicated they are in the market for a new flat panel TV today, and over 50 percent of those who said "yes to purchasing a new TV within the next six months" already purchased a set within the last six months.
Of those surveyed, 70 percent who indicated "Yes, I am in the market for a new flat panel TV", are likely to buy within the next six months with a 42" the first choice in size followed by 32" and 52" as the intended sizes purchased with Sony, Vizio, Samsung, and LG being the brands specified. Best Buy leads the pack as the likely destination for these consumers with Walmart, Sam's Club, and Costco right behind.
If the US economy was healthier, an additional 39 percent of respondents would be in the market for a new flat panel TV within the next six months as well. While deep discounts are always a purchase motivator, 36 months 0% financing and free wall mount installation are motivators for those waiting for the economy to get better, indicating consumers expect the current recession to last through the year and still want that TV.
With the deluge of thinner than ever TV's, consumers are noticing this trend and 42 percent find this design trend to be Very or Extremely Important in their decision process with an additional 40 percent suggesting it's Somewhat Important. However, paying a premium is something that most are not willing to do with 60 percent saying they want the thin design without any sort of additional cost. Approximately 19 percent are saying they will spend $100 more and 16 percent are willing to spend up to an additional $300 premium for the design conscious TV.
While almost half of consumers are not likely to purchase very many CE products within the next six months, a few categories will fare better than others with Flat Panel TV's being the #1 intending to buy, followed by a Windows Laptop Computer, Blu-Ray DVD Players, GPS units at #4, Computer Peripherals, and then Cell Phones. Other products with potential for the next six months include Digital Camcorders, Digital Photo Frames and Gaming Consoles.
ClickIQ is a market research firm that employs fully integrated online management tools to help its clients and partners achieve true competitive advantage through consumer insight.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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