Stay ahead of the curve and secure future growth for your business with Mintel’s Televisions Market Report. The report provides a data-led understanding of the current TV market and opportunities within the industry for brands in the UK.
Topics Analyzed
- Televisions market performance, including projections for the next five years and analysis.
- Competitive strategies, launch activity, brand research and advertising initiatives in the TV market.
- Household ownership of technology products including various types of TVs, streaming media devices and other audio visual products.
- Intent to purchase a new TV and how much consumers are willing to pay.
- Features that are most important to people when choosing a new TV.
UK TV Market Overview
Category spending is affecting the market
The technology market faces challenging times in 2024, with nearly twice as many consumers expecting to spend less in the category in 2023 than those who plan to spend more. Brands will need to position TVs as potential future-proofed investments, by highlighting durable build quality and multi-functional purpose to appeal to consumers.
The TV consumer perspective
With inflation slowing for household goods such as TVs consumers are in a better place for purchasing new devices than in the previous two years, when sets were more expensive. Big sporting occasions can be a positive time for brands to accentuate this and promote watching events on TV as a key way for consumers to socialise with friends and family.
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Meet the Expert
Joe is a consumer technology analyst with Mintel. He has over a decade’s experience in the market research industry as a research analyst and report writer. He joined Mintel in 2019 after a number of years as a research manager at a boutique consultancy, servicing B2B, Financial services and public sector clients.
In 2024, brands can capitalise on short-term gains from major sporting events and emphasise sound quality as a compelling selling point for consumers.
Joe Birch
Technology Analyst
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Executive Summary
- Key issues covered in this Report
- Overview
- Opportunities for the televisions market
- Focus on the organic growth opportunities of 4K UHD TVs
- Promote the multifunctionality of TVs to maintain dominance of the viewing market
- Tapping into aspiration and escapism to boost TVs emotional value
- Market dynamics and outlook
- Market predictions
- Stabilisation in prices and boost from sporting events can see TV market realign
- Competition coming from more portable computing screens
- Graph 1: activities on desktop, laptop or tablet, 2023
- Consumer confidence improving, but brands will need to emphasise long term investment potential of TV sets
- Graph 2: index of financial confidence in the next year, 2016-24
- What consumers want and why
- TVs in nearly 9 in 10 homes
- Graph 3: UK household ownership of technology products, 2024
- Focus on next generation picture quality to boost upgrades
- Graph 4: TV types in the household, 2024
- Top three brands consolidate
- Graph 5: brand of television(s) in the household, 2024
- Opportunites at both ends of the market for retailers and manufacturers
- Graph 6: amount consumers are willing to pay for a new TV, 2024
- Triumvirate of size, sound, and screen tech piques consumer interest
- Graph 7: most important features of a new TV set, 2024
- Highlight versatility of TV sets to boost their all round appeal
- Graph 8: attitudes towards televisions, 2024
- Innovation and marketing
- Samsung promotes AI capabilities of smart TVs
- Sony’s flagship 2024 uses new mini LED tech as it ups the brightness capability of its sets
- Smart home, bundled content and gaming help push utility and value of TVs
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Market Dynamics
- Market size
- Pandemic boost to TV sales tails off
- Graph 9: market value for televisions, 2019-23
- Slowdown post 2020 caused by global conflicts, price increases of raw materials and shipping issues
- Market forecast
- 2024 and a return to growth for the TV market
- Stabilisation in prices and boost from sporting events can see TV market realign
- Economic gloom lifts, but TV brands are competing against new platforms
- Innovation can help the market to sustain performance into the long term
- The last recession showed the importance of demonstrating value
- Market background
- Curation of content for TVs can meet the fragmented viewing habits of consumers
- Graph 10: services used to watch video or TV content in the last three months, 2023
- Sustainability is an important area for TV manufactures to promote
- Graph 11: attitudes towards technology manufacturers and sustainability, 2023 (NET)
- The future of viewing
- Competition coming from more portable computing screens
- Graph 12: activities on desktop, laptop or tablet, 2023
- Headsets can also challenge the TV for delivering content
- Graph 13: attitudes towards the Apple Vision Pro, 2023
- Consumers expect the dominance of screens to change
- Graph 14: attitudes towards technology in the next 10 years, 2024
- Macro economic factors
- Falling inflation has reduced pressure on household finances
- Graph 15: CPI inflation rate, 2021-24
- Consumer confidence improving, but brands will need to emphasise long term investment potential of TV sets
- Graph 16: index of financial confidence in the next year, 2016-24
- Post pandemic cultural events offer opportunities to engage
- Global conflicts and shipping issues can impact supply chain of TVs
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What Consumers Want and Why
- Household ownership of TVs
- TVs in nearly nine in 10 homes
- Graph 17: UK household ownership of technology products, 2024
- Appeal to aspirational side of young consumers to drive the projector market
- Graph 18: household ownership of TVs and projectors, by generation, 2024
- Types of TV in the household
- Focus on next generation picture quality to boost upgrades
- Graph 19: TV types in the household, 2024
- 8K’s progress stalls amid legal conditions and lack of content
- Incentivise upgrade cycle with trade-in opportunities
- TV brand ownership
- Top three brands consolidate
- Graph 20: brand of television(s) in the household, 2024
- Innovation helps top brands consolidate and stand out
- Graph 21: brand of television used most often in the household, 2024
- Sony looks to gaming to appeal to a younger audience
- Graph 22: brand of TV used most often, by generation, 2024
- Focus on brand over technical details to resonate
- Challenger brands must boost their all round value proposition to drive UHD take-up
- Graph 23: type of TV owned, by brand, 2024
- TV purchasing intentions
- Tap into the excitement of a sporting year for keen sports fans
- Graph 24: intention to purchase a TV in the next 12 months, 2024
- Generating the feel good factor
- Put the TV at the centre of the big night in
- Targeting the household: families are warm targets for new set purchases
- Graph 25: intention to purchase TV next 12 months, by parental and family status, 2024
- Amount consumers are willing to pay for a new TV
- Opportunites at both ends of the market for retailers and manufacturers
- Graph 26: amount consumers are willing to pay for a new TV, 2024
- Opportunities for premiumisation with older audiences
- Graph 27: amount consumers are willing to pay for a new TV, by generation, 2024
- Encourage consumers to trade up with a focus on longevity and future-proofing
- Features most important in new TV set
- Triumvirate of size, sound, and screen tech piques consumer interest
- Graph 28: most important features of a new TV set, 2024
- Targeting the technophiles
- Older consumers prioritise audio and accessibility
- Graph 29: TV features of interest in a new set, by generation, 2024
- Aesthetic appeal sticks out for those intending to purchase new set
- Focus in on key TV attributes to meet consumers needs
- Promote interface and operating system to deliver personalised viewing schedule
- Attitudes towards TVs
- Highlight versatility of TV sets to boost their all round appeal
- Graph 30: [no title]
- Promote user-friendly interfaces for the streaming age
- Consumers are mindful of the trade-off between price and functionality
- Encouraging consumers to buy in an age of constrained spending
- TV owners – consumer segmentation
- Groups of consumers have different values they seek in TVs
- Graph 31: [no title]
- Younger age groups are looking for quality at an affordable price
- Older affluent consumers are the big ‘Spenders’
- Graph 32: ‘Spenders’, by age, 2024
- Older men are the biggest spenders
- The Disengaged don’t see any intrinsic value in the TV
- Affordable Brand Enthusiasts are the biggest brand advocates
- Graph 33: ‘Affordable Brand Enthusiasts’, by age, 2024
- Promoting value to those seeking basic functionality
- Graph 34: ‘Utility Consumers’, by age and gender, 2024
- Engaged Brand Agnostics will shop around for best deals
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Innovation And Marketing Trends
- Launch activity and innovation
- Samsung promotes AI capabilities of smart TVs…
- …And introduces new lifestyle range, featuring transparent and upgraded safety features
- Sony’s flagship 2024 uses new mini LED tech as it ups the brightness capability of its sets…
- Manufacturers go bigger and brighter with new TVs
- …As it aims to bring the cinema experience home
- LG Â focuses on delivering for lifestyle in its premium 2024 range…
- …And also pushes its brightness and a new transparent range into the background
- Brands look to promote TVs as smart home hubs
- Promoting utility of TVs role in the home device ecosystem
- Projectors meet need for flexible viewing and top gaming experience
- Manufacturers go bigger and brighter with new TVs
- Gaming continues to be a selling point for manufacturers
- Bundled TV content helps build value propositions
- Roku enters the TV market with value-driven JVC and Sharp partnerships
- Advertising and marketing activity
- 2023 sees near 60% downturn on advertising activity on televisions
- Graph 35: total above-the-line, online display and direct mail advertising on televisions, 2021/22/23
- Sky continues to lead the way with biggest advertising spend in 2023
- Graph 36: total above-the-line, online display and direct mail advertising on televisions, of top 5 advertisers, 2023
- Sky Glass’s mega campaign drives spend on TV and Cinema advertising
- Samsung highlights the wow factor if its Neo QLED 8K range
- Curry’s leverages its expertise in support of LG OLED range
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Brand Research
- Sky Glass seen as different but needs to win consumers’ trust
- Samsung the most used and most liked
- Samsung leads as a unique brand
- Samsung wins on both quality and value perceptions
- LG in need of a clearer brand image
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Appendix
- Market forecast data and methodology
- Market forecast and prediction intervals (value)
- Forecast methodology
- Report scope and definitions
- Market definition
- Abbreviations and terms
- Methodology
- Consumer research methodology
- TURF Analysis methodology
- TURF Analysis
- Nielsen Ad Intel coverage
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