How often do you buy a new TV? If you are like the average consumer it happens every 7 years. DisplaySearch says that TVs are being replaced more often than in the past. Just within the last year the replacement cycle has fallen from 8.4 to 6.9 years.
We replace our TVs more often
The TV industry is still innovative and although not all of the manufacturers' ideas stick, consumers replace their TVs more and more often.
Research firm DisplaySearch keeps track of the global trend by following the 14 most important markets. DisplaySearch says that over the past year, the TV replacement cycle fell from an average of 8.4 years to 6.9 years. In other words; the average consumer replace their TV every 7 years.
The reasons are many but DisplaySearch says that it is primarily driven by falling prices, more TV sizes and the desire to have the latest technology. They also say that people prefer larger and larger TVs and picture quality is still one of the most important factors when choosing a new TV.
Consumers buy new TVs more often than before
Looking forward, 31% of households say that they plan to replace their existing living room TV over the coming year. 22 % plan to add another TV in the home.