The good old television set has made a stunning comeback😎.
After two years of declining sales, overall television sales have risen over 35-50%📈 since May compared to both Jan-Feb and the corresponding months last year.
Notably, ☝️May was the time when markets opened up after relaxation in the lockdown restrictions.
E-commerce marketplace Flipkart has also reported doubling of TV sales on its platform.
What’s the reason?
There have been various factors behind this revival in TV sales.
The primary one has been the change in family viewing habits brought on by the lockdown itself.
After several years, family members👨👩👧👦 have been sitting and watching television together.
Since there have no new movie releases☹️ because of closing down of theatres, people have switched on the OTT platforms such as Amazon Prime and Netflix.
As a result, the demand is comparatively higher for the higher-end smart TVs which can connect directly to such streaming services.
‘The bigger the better’
Presently, the sales of the large screen TV models are witnessing a phenomenal growth of 2-3 times.
As per both brands such as Sony, Panasonic, Thomson, Sanyo, Daiwa etc. and retailers🏢 including Vijay Sales, Great Eastern Retail and Reliance Retail, this is the first time when large-screen models, (43-inches and above) have become the largest selling category✌️ by sales volumes.
They have overtaken⏩ the 32-inch model segment which otherwise has been the bread-and-butter of the industry.