"Approximately 315.6 million new sets found their way to households around the world in 2020, reflecting a 6% increase from the year before as people spent more time at home."
"Circana reports that the average TV is replaced every 6.6 years, but this figure dropped to 5 years during the pandemic, indicating a surge in buying."
"Historically, consumers have upgraded to get a larger TV. The TV they bought six years ago that they thought was a big TV isn't a big TV anymore."
"Major sporting events like the Super Bowl and the upcoming 2026 World Cup are expected to drive sales, with discounts and promotions leading up to these events."
In 2020, global TV sales surged to 315.6 million units, a 6% increase from the previous year. The average TV is replaced every 6.6 years, but during the pandemic, this dropped to 5 years. Over 20% of TVs are now in the upgrade zone. Major sporting events like the Super Bowl and the 2026 World Cup are anticipated to boost sales. Price and screen size are key factors in purchasing decisions, with consumers increasingly favoring larger TVs.
Read at Fast Company
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