NEW DELHI: 5 out of 11 (~45%) Indian consumers have bought or are planning to buy a new smart TV to upgrade from their old, regular TV and enjoy better entertainment experiences, according to survey findings by CyberMedia Research<\/a> (CMR) released Tuesday.
NEW DELHI: 5 out of 11 (~45%) Indian consumers have bought or are planning to buy a new smart TV to upgrade from their old, regular TV and enjoy better entertainment experiences, according to survey findings by CyberMedia Research<\/a> (CMR) released Tuesday.
Sound quality (74%) picture quality (69%), and screen size (56%) are among the top factors that drive the brand selection decision.
“In-home entertainment has taken an entirely new meaning in the new normal. While Indians generally hold onto their TV for an average of eight years, more consumers are now seeking to upgrade their entertainment experiences with the latest TV. Cord-cutting is now a key trend amongst consumers, with internet connectivity in TVs being a key purchase driver,” said Satya Mohanty, Head-Industry Consulting Group (IIG), CMR.
The CMR study revealed that in both Tier 1 and Tier 2 cities, the ease of home delivery (60%), the range of TV choices (53%), and the attractive and affordable payment offers (52%) are the key factors influencing online TV purchases.
CMR noted that 3 in 5 (60%) of TV buyers are exploring their next purchase online, and attributed this shift to an increased digital fluency over the last two years.
“Beyond the born-on-the-internet generation, our study findings point to a shift in the mindset of traditional offline consumers. While touch and feel have been a key part of their purchase journey, they are now more open to exploring TV purchases online,” commented Prabhu Ram, Head-Industry Intelligence Group (IIG), CyberMedia Research (CMR). “Trust, convenience and value are the key purchase drivers.”
The survey findings come at a time when the smart TV segment grew 33% year-on-year in Q1 2022, to reach its highest share of 89% of the overall TV market, according to Counterpoint Research<\/a>.
The firm in a recent report has said that the online channels grew 30% on year to contribute 31% of sales, but offline channels continue to drive the market, contributing 69% to all sales.
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