Nothing seems to grab the attention of GB like a large sporting event and with 2016 having both the European football championship and Rio Olympics, there appears to be no better time to upgrade your TV.
In the month of June when the Euro’s began saw sales increase by 10.3% in units and 13.9% in value year on year (YoY). Looking at weekly sales we can see the week containing May bank holiday have a value and volume uplift of 34% and 41%, compared to the previous week. This appears to be the key purchasing period in the run up to the sporting events.
Focusing on screen size, May bank holiday week saw 61.6% of TV’s sold being 40”+ and 24.5% being 50”+. This is an increase of 10.7% for the latter, when compared to the previous week. In terms of value, 50”+ TV’s accounted for 43.8% of sales in May 2016, which is an increase of 7.5% when compared to a year earlier. This behaviour is falling in line with a continuing theme that shoppers are upsizing their TV’s and that sporting events changes shopper’s behaviour, making them more likely to make TV purchases.
With fewer major sporting events in 2017 will this mean that we will not see the growth peaks seen this year? Or will newer technology such as High Dynamic Range (HDR) keep sales improving for 2017?
Author: Craig Waldie, Account Executive.