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Home Electronics (Video/Audio) - Canada - January 2017

"Audio and video home electronics manufacturers and brands operating in Canada are facing a changing environment of evolving preferences and consumer demand. New televisions are pushing the boundaries of screen sizes and resolutions, and these attributes do capture consumer interest. However, some segments have struggled to maintain relevancy in light of tight competition, market maturity and changing tastes. Segments such as audio will need to adapt to changing preferences for practicality and efficiency, as well as connectivity with mobile devices. Furthermore, consumer attitudes indicate that they are performing research before purchasing a device in this category, and thus will be more likely to be confident in the purchasing process."
- Andrew Zmijak, Research Analyst

This Report discusses the following key topics:

  • Home theatre systems are losing presence in Canadian households
  • Low prices are a major factor
  • Consumers insist on performing research prior to purchase

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Table of contents

  1. Overview

    • What you need to know
      • Definitions
      • Executive Summary

        • The issues
          • Home theatre systems are losing presence in Canadian households
            • Figure 1: Presence of home electronics in the household, type of speakers/sound system, November 2016
          • Low prices are a major factor
            • Figure 2: Influencing factors when choosing a retailer, November 2016
          • Consumers insist on performing research prior to purchase
            • Figure 3: Attitudes towards home electronic products (any agree), November 2016
          • The opportunities
            • Interest in Ultra-HD/4K resolution tops the list
              • Figure 4: Interest in television technology features (top five), November 2016
            • Efficiency and practicality trump the importance of size
              • Figure 5: Attitudes towards home electronics (any agree), November 2016
            • There are those who are more serious about sound
              • What it means
              • The Market – What You Need to Know

                • Moderate growth projected for television sets
                  • Generational preferences will help boost sales
                    • Home electronic brands will benefit from a growing and diverse population
                      • Economic factors and increasing living costs will affect discretionary spending
                        • A lack of interest for pay-TV cable/satellite may pose a threat to TV sales
                        • Market Size and Forecast

                          • Moderate growth forecast for television sets
                            • Figure 6: Retail market volume of television sets, Canada, 2011-21
                            • Figure 7: Retail market volume of television sets, Canada, 2011-21
                          • Forecast methodology
                          • Market Factors

                            • Generational preferences will help boost sales in certain home electronic segments
                              • Figure 8: Projected trends in the age structure of the Canada population, 2014-19
                              • Figure 9: Population aged 65 years and over in Canada, historical and projected (% of total), 1971-2061
                            • Home electronic brands will benefit from a growing and diverse population
                              • Economic factors and increasing living costs will affect discretionary spending
                                • Disinterest in pay-TV cable and satellite may pose a threat to TV sales
                                • Key Players – What You Need to Know

                                  • Black Friday/Cyber Monday deals
                                    • Marketing the latest and greatest offers
                                      • Sonos – You’re Better Than This
                                        • Streaming media devices are gaining popularity
                                          • Lack of 4K content creates a challenge for Ultra-HD televisions
                                            • Cutting-edge innovations in TV tech will heighten viewing experience
                                            • Marketing and Advertising

                                              • Black Friday/Cyber Monday deals
                                                • Figure 10: Costco, Black Friday, acquisition mail, November 2016
                                                • Figure 11: Costco, Cyber Monday, acquisition mail, November 2016
                                              • Marketing the latest and greatest offers
                                                • Figure 12: Sony advertising, acquisition mail, September 2016
                                                • Figure 13: Sony advertising, acquisition mail, June 2016
                                              • Sonos – You’re Better Than This
                                                • Figure 14: Sonos commercial 2016, You’re Better Than This, August 2016
                                            • What’s Working?

                                              • Streaming media devices are gaining ground
                                              • What’s Struggling?

                                                • Lack of 4K content creates a challenge for Ultra-HD TV sets
                                                  • Macro and micro conditions may dampen spending
                                                  • What’s Next?

                                                    • Cutting-edge innovations in TV technology will heighten viewing experience
                                                    • The Consumer – What You Need to Know

                                                      • LED/LCD TVs are the most common TVs found in Canadian households
                                                        • Men over 45 are more likely to have speakers and audio equipment
                                                          • Low prices followed by good reputation are most critical when choosing a retailer
                                                            • Ultra-HD/4K resolution is a top feature
                                                              • Consumers are keen on performing research prior to purchase
                                                                • Canadian consumers display patience and rationale
                                                                  • Some are serious about sound
                                                                  • Home Electronics in the Household

                                                                    • Ownership of LED/LCD TVs highest among Canadian households
                                                                      • Figure 15: Types of televisions in the household, November 2016
                                                                    • Home theatre systems still prevalent but losing ground
                                                                      • Figure 16: Home electronics in the household (not including TVs), November 2016
                                                                    • Men over 45 are most partial to audio/video equipment
                                                                      • Figure 17: Ownership of home audio/video components (select), men 45+ vs women 45+, November 2016
                                                                      • Figure 18: Select attitudes towards home electronic products (any agree), by gender, November 2016
                                                                    • Higher-income households more likely to have audio/video components
                                                                    • Influencing Factors when Choosing a Retailer

                                                                      • Predictably, low prices are most critical when choosing a retailer
                                                                        • Figure 19: Influencing factors when choosing a retailer, November 2016
                                                                      • Women are more influenced by in-store experience and promotions
                                                                        • Figure 20: Influencing factors when choosing a retailer, by gender, November 2016
                                                                      • It’s all about service for older consumers
                                                                        • Figure 21: Influencing factors when choosing a retailer (select), 18-54s vs over-55s, November 2016
                                                                      • Shipping costs play a factor
                                                                        • More sales less service for Quebecers
                                                                        • Interest in TV Technology Features

                                                                          • Consumers are interested in resolution and flexibility
                                                                            • Figure 22: Interest in television technology features, November 2016
                                                                          • Men are significantly more interested in TV tech
                                                                            • Figure 23: Interest in television technology features, by gender, November 2016
                                                                        • Attitudes towards Home Electronics

                                                                          • Performing research prior to purchase is critical for consumers
                                                                            • Figure 24: Attitudes towards home electronic products (any agree), November 2016
                                                                          • Canadian consumers display patience and rationale
                                                                            • Figure 25: Select attitudes towards home electronic products (any agree), November 2016
                                                                          • Efficiency and practicality overshadow the importance of size
                                                                            • Figure 26: Attitudes towards home electronics (any agree), November 2016
                                                                          • Some are more serious about sound
                                                                          • Appendix – Data Sources and Abbreviations

                                                                            • Data sources
                                                                              • Consumer survey data
                                                                                • Consumer qualitative research
                                                                                  • Abbreviations and terms
                                                                                    • Abbreviations

                                                                                    Companies Covered

                                                                                    To learn more about the companies covered in this report please contact us.

                                                                                    Home Electronics (Video/Audio) - Canada - January 2017

                                                                                    US $3,995.00 (Excl.Tax)