TV sales explode as Australians upgrade their entertainment options during lockdown
During the coronavirus crisis we’ve spent more time at home and used this isolation as an excuse to upgrade our smarts TVs with all major brands reporting remarkable year on year growth.
Tech and electronics vendors and retailers have fared better than most during the COVID-19 lockdown as Australians have cocooned themselves to work and learn from home.
But customers have also upgraded their entertainment options, namely their TV, to improve their viewing experience.
Samsung, LG and Hisense – the most popular TV brands in Australia – have all confirmed with Tech Guide “significant” year on year sales increases.
“We can confirm that Samsung’s TV category has enjoyed a strong reception amongst Australians in recent weeks and months when compared to the same period in previous years,” Jeremy Senior, Head of Consumer Electronics, Samsung Electronics Australian told Tech Guide.
“We are pleased with the response from customers since the recent launch of the 2020 QLED TV range, particularly in the large screen category of 75-inch and above.
“We look forward to continuing to provide our customers with the very best in Samsung’s QLED TV, audio, and consumer electronics in 2020.”
While these brand haven’t quantified their boosted unit sales, Tech Guide understand the increase over the same period as last year is more than 20 per cent.
“With many Australians spending more time at home, there’s been growing interest in household appliances and consumer electronics across the board,” said Andre Iannuzzi, Head of Marketing at Hisense Australia.
“Most notably, we’ve seen a significant spike in sales across our range of fridges and freezers, however we’ve also seen increased demand in the TV category.
“Arguably, we’ve never been more reliant on our TVs as a key source of news and entertainment than we are right now.
“As a result, Australians are not only looking for high quality, content-rich home entertainment solutions, they’re chasing size and scale with big TVs gaining in popularity.
“Our 2020 TV range aims to tick both of these boxes by delivering the best in both picture quality and size – including a massive 100-inch TV.
“It’s a big, bold and pushes the boundaries of TV technology with game-changing innovations, as well as the inclusion of an ever-increasing range of streaming and entertainment apps.”
LG, which has just released its 2020 range of OLED 4K and 8K TVs, has also confirmed stronger sales in the months since the coronavirus lockdown began.
“Our new 2020 TVs are enjoying really strong sales as Australians rush to upgrade their entertainment options” says Tony Brown, Marketing Manager for Home Entertainment at LG Electronics Australia.
“This year, we continue our leadership in OLED technology with a greater selection of displays to choose from and an enhanced intelligent processor to match.
“With LG 8K OLED and NanoCell 8K TVs, customers will be set up for the future, but even now they can upscale content to near 8K formats.
“We’re excited to provide Australian consumers with such a wide premium viewing offering to enjoy in shared spaces with family and friends.”
The sudden increase in TV sales can be attributed to a number of factors.
Firstly, this time of the year (March/April) is usually when the latest TV models are released so customers either rush to buy the latest models or pick up a bargain as retailers runout their previous year’s stock.
But in 2020, we’ve also had the extraordinary situation where the coronavirus has closed all our external options including cinemas and theatres, pub and clubs and concert venues so the only place you can watch a movie is at home on your own TV.
Numerous customers who wanted to upgrade their TVs accelerated those plans and decided to purchase that new TV now to improve their home entertainment experience.
Naturally streaming services are more popular than ever as customers access content directly from the apps on their new smart TVs including Netflix, Stan, Apple TV+, Disney+ and Amazon Prime Video which are all pre-installed on the latest smart TVs.
Another trend that has emerged is the move towards larger screen sizes with 75-inch TVs well on their way to being the new average size for Australian viewers.
Australian retailers are also reaping the benefits as well with companies like Harvey Norman, JB Hi-Fi and The Good Guys enjoying up to 13.9 per cent share price increases in the first quarter of 2020.