A survey released today from Hitachi America reveals that the high-definition television (HDTV) market is set to explode, with 78 percent of consumers saying their next TV will be an HDTV.
Entering the back-to-school, football and holiday shopping seasons, Americans are on the prowl for HDTVs, while also reporting that women are driving more purchases, bigger screens are better (especially for households with kids) and flat panels are favored.
The HDTV market?s growth potential is substantial, with strong interest in buying HDTV spanning all household incomes ? 85 percent making more than $35,000 are interested in HDTV and nearly 70 percent making below $35,000 are interested.
This interest for HDTV continues to rise despite ongoing consumer confusion. Nearly two-thirds of consumers said they would not be comfortable explaining the various HDTV options in the market (e.g., DLP, LCD and Plasma), revealing the need for continuing consumer education as they select the HDTV that best fits their viewing, design and lifestyle needs.
As expected, women are a driving force behind big consumer purchases, with nearly half of households (45 percent) reporting that women are either equally or more responsible for researching big electronics purchases. Interestingly, when discussing HDTV options such as DLP, LCD and Plasma, seven in ten (73%) women say they are confused by the options, compared to only about half (51%) of men.
Americans are also reporting, regardless of income, that larger TV screens are more important than ever, with more than one-third (37 percent) of respondents saying they?d prefer a screen that is 50 inches or larger. For households with children, that number jumps to nearly half (47 percent). In addition to size, consumers increasingly want flat-panel TVs that can hang on a wall. The survey found that 71 percent of people either own or want to own a flat panel ? 19 percent and 52 percent respectively.
Hitachi and KRC research conducted this nationwide telephone survey of 1,055 adults 18 and older between May 18 and 21, 2007. The margin of error is plus or minus three percent with a confidence level of 95 percent.