HDTV Price Out of Range of Average US Household
New consumer research, “HDTV: Awareness, Interest and Intent to Purchase 2005,” from Leichtman Research Group, reports that the percentage of households in the United States that have a high definition-capable TV set grew from 7% a year ago to 12% at the end of the third quarter of 2005. Growth has largely been spurred by decreasing prices, as the mean reported purchase price of new HDTV sets bought in the past year was one-third less than prior HDTV purchases.
Men are likely to drive the adoption of HDTV sets over the next year. They represent:
- 82% of those who were the main decision-maker in the purchase of an HDTV set
- 69% of those claiming to receive HD programming
- 57% of those very likely to get an HDTV set in the next year
Based on a survey of 1,300 households throughout the United States, other key findings include:
- 89% of adults nationwide have heard of HDTV
- Consumers report spending an average of $1,600 for HDTV sets purchased in the last year, compared to $2,400 for HDTV sets purchased over a year ago
- 18% of current HDTV owners are likely to get another HDTV set in the next year
- 11% of non-HDTV owners express some likelihood to purchase an HDTV set in the next year if it cost $1,000
- Overall likelihood to purchase an HDTV set is virtually unchanged from a year ago
Bruce Leichtman, President, Leichtman Research Group, said “HDTV has grown beyond the early adopter stage. … (but) prices still remain out of the range of the average US household. Continued price reductions, and the looming analog cut-off, will ultimately result in 55% of US households having at least one HD-capable TV set by the end of 2010.”
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