With a recovering economy and lower prices, high-definition TV sales should increase during the remainder of 2009, with higher sales expected to continue into the new year, according to the SNL Kagan research group.
In 2008, HDTV sales reached 26.2 million. This year, the number is expected to reach 29 million, SNL Kagan predicts.
“As average HDTV set prices continue to fall to the $600 to $700 range by 2010 or 2011, we should see mass adoption begin to take hold, with over 80% to 90% penetration of TV households,” according to SNL Kagan analyst Justin Nielson.
HDTVs will also find their way into 82.3 million homes in the U.S., which is about 71% of the country, a drastic increase from the 16% HDTV penetration in 2005.
The struggling economy hurt consumer electronics across the board, although HDTVs were able to avoid the sales slump – but finally suffered sales in the beginning of 2009. In the future, pent-up demand and lower retail prices indicate a sales frenzy is possible if manufacturers offer legitimate incentives.
I expect HDTV sales to dramatically rise in 2010, especially with the economy beginning to recover from the past 12 months. Furthermore, there are numerous sales available, with some HDTV purchases including a free Blu-ray player and a couple of Blu-ray movies.
Even without the incentive of a free Blu-ray player, it should be interesting to see what HDTV sales total over the next six months. Expect numerous holiday deals available this shopping season, as manufacturers and retailers look to cash in as consumer spending is expected to be higher than in 2008.
