Die-hard football fans aren’t the only one’s celebrating this year’s FIFA World Cup. As the most widely viewed sporting event in the world, TV manufacturers and retailers around the world have seen a significant boost in sales.
According to new retail data from GfK Group, a UK-based consumer-products data provider with Asian headquarters in Singapore, the first week of June saw combined sales of HD and FHD TVs in eight Asian markets – Hong Kong, Indonesia, Thailand, Malaysia, Singapore, Korea, Taiwan and Vietnam – reaching nearly 90,000 units, worth a total of USD73 million. The figures represent a 249 percent growth in unit sales, and 156 percent growth in value, compared to the same week last year.
"The World Cup is a global phenomenon that attracts a huge television audience from all over the world. While consumer responses differ across countries, there is a common demand for better-quality viewing," says Jasmine Lim, regional account director for consumer electronics at GfK Asia. "Fans who want a better view of the action are more willing to invest and upgrade to TVs with larger screens and full HD."
Findings from GfK Asia reveal a consistent upward surge in TV sales in Asia several weeks before the kick-off, hitting a peak during the week just before the start of the tournament.
In terms of TV resolution and screen sizes, FHD TV proved to be slightly more popular, while 30- to 45-inch screens were the most common sizes snapped up by consumers, making up 71 percent of the overall TV sets sold.
"TV sales started increasing across Asia as early as the beginning of this year, as brand manufacturers began cashing in on the World Cup euphoria to launch new products such as 3D TV," says Lim. Year to date, from weeks 1-23 of 2010, TV sales have grown by over 86 percent compared with the same period last year.
GfK Asia’s regular Retail Panel survey includes over 160 product segments and covers Singapore, Malaysia, Thailand, Indonesia, Korea, Taiwan, Hong Kong, Vietnam, the Philippines and India. For more information, visit GfK Group.