Impact Hits Multiple Income Segments, According to MultiMedia Intelligence
When the 2008 holiday season has ended in the United States, 33.1 million LCD TVs will have been sold to US consumers, according to recent research by MultiMedia Intelligence. However, while the number of LCD TVs sold moving into 2009 will rise, a steep decline in Average Selling Prices (ASPs) will sap 2009 overall revenue growth. Further, market weakness will impact multiple income segments, including households with income below $35,000 as well as households with income between $150,000 and $250,000.
“As LCD TV ownership saturates in higher-income households, growth depends on lower-income families,” observes Rick Sizemore, Chief Strategy Officer for MultiMedia Intelligence. “However, this puts the US LCD TV market at considerable risk as economic weakness undermines spending power among lower and middle income households.”
Other key market data from the research includes:
- LCD TV revenue from households with income between $150,000 and $250,000 will declines by over 9% in 2009 compared to 2008.
- In 2007, US head of households aged 70 years old and older spent US$2.1 billion on US LCD TVs.
- African-Americans purchased 1.6 million LCD TVs in 2007, but that number is expected to grow to 5.2 million LCD TVs in 2012.
- In 2012, in households where the US LCD TV purchaser makes between $50,000- $74,999, the total revenue from these household is forecasted to be $7.3 billion.
The research, US LCD TV Market & Customer Segmentation provides a deep demographic look into US LCD TV purchases. It analyzes the US market for LCD TVs in terms of:
- Overall US LCD TV Market
- Market Segmentation by Household Income
- Market Segmentation by Age of Head of Household
- Market Segmentation by Race
- Market by Hispanic Head of Households
- Market Segmentation by Gender of Head of Household
- Market Segmentation by the Education Level of the Head of Household
- Market Segmentation for Households with a Major Home Improvement
About MultiMedia Intelligence
MultiMedia Intelligence, a market research and consultancy firm, specializes on the markets and technologies for delivering and monetizing digital content and services across multiple platforms. We look beyond the classic ‘three screens,’ which include TVs, mobile handsets, and computers. We put markets into the broader context of the industry ecosystems that are converging and changing traditional business models.
