According to market analysis by GfK TV consumer confidence is currently being negatively impacted by Brexit and prices are coming down more slowly than predicted.
Findings reported by Nick Simon, account director of consumer electronics at Gfk, state that in the UK consumers are enthusiastic about buying new TVs, buying confidence has dipped as a result of the weak value of the pound – making it the joint-lowest of any European country with Italy.
The findings also noted that TV prices in the UK are not declining as quickly as expected, although it is expected that TVs will soon increase in price. Figures show that in 2016 21.3% of TVs had their prices cut by 40% or more, compared to only 0.2% in 2017 so far.
Speaking at the SES's Ultra HD Conference in London (via Digital TV Europe), Simon confirmed that UHD is clearly winning the HD race, especially when it comes to TVs over 44-in costing over £350. Adding that now both the volume and value of UHD sets are overtaking Full HD models, as opposite to just the value back in 2015. Despite this growth, Simon reported that Full HD sets is still leading in one category – among 32-in TVs, where there is thought to be little demand for 4K technology.
Simon also outlined how 4K Blu-ray players are the only category of Blu-ray or DVD players showing growth, meaning they could potentially lead to more 4K TV sales. Yet with just under half of 18-34-year-olds using the TV as the default device on which to watch content (compared to 88% of users aged 55+), he predicated viewing habits could among the next generation could have an impact on TV sales.