A television is one of the most ubiquitous items in the average American household. We love our TV – Nielsen estimates 116.4 million TV homes in the U.S. It’s a thriving industry with endless choices, depending on a consumer’s technology preference and budget. Being a product data company, we wanted to know – what goes on under the surface and what impact do things like features and screen size have on the market? Let’s find out!
We looked at product data on over 6,200 televisions. An analysis of all the product titles revealed the most frequently occurring terms and this helped us determine which features to analyze and compare. The top features we focused on are 4K/Ultra HD/UHD, 3D TV, Smart TV, and Curved Screen. Featured TVs refer to TVs that have at least one of these features.
Featured TVs comprise 42% of all LED/LCD TVs (which make up about 96% of all the TVs on the online market). We found that the average price of featured TVs is a whopping 63.9% higher than non-featured ones! So if you’re on a budget, you might want to re-think the fancy features and get something more basic.
Samsung leads featured TVs with 1,043 products. For now only Samsung offers curved LED/LCDs, with one exception from Sony. The top five featured TV brands are Samsung, LG, Vizio, Sony, and Sharp. 32.5% of the TVs are smart, making it the the most prevalent feature. The average price of smart TVs is only 23.8% more than non-featured TVs of the same kind. That seems like a reasonable premium to pay for the added functionality.
Here’s what the numbers tell us.
Screen size is another major influencing factor when people are planning to buy a TV. We’ve all been in those arguments about what is just the right size for our living room and viewing requirements.
We found that most TVs are in the 30- to 60-inch range and but naturally, the average cost of LED/LCD TVs increases with screen size. TVs 70 inches and larger are particularly pricey. When studying screen size against corresponding TV prices, we saw that starting at 50 inches, prices start to escalate faster. You’ll get the most bang for your buck if you stick to the 30- to 50-inch range TVs, not to mention lots of choice in assortment.
Intrigued by all these insights? Do you want to know more? Download our Televisions Category Report now.
Note: All datasets were pulled from the Indix Product API in July 2016 and include only “in stock” products. The sample comprised 6,501 products spanning 52,120 offers (product + store combinations) sold by 158 brands across 249 online stores.
Also published on Medium.