The Philippine TV consumers have recently indicated a preference for some of the latest flat screen TV sets with Internet capabilities, according to a recent consumer study by GfK Philippines.
With this preference, the research company is expecting Internet to be one of the hottest technologies that consumers will crave for from these TV sets.
For the first seven months of the year, flat TV panel sets registered 55 percent in growth value, said GfK. Philippine consumers spent an estimated US$357 million during the period for nearly 615,000 flat panel TV sets. Over US$58 million were sales of some 37,000 units of Internet-enabled TV.
Although this sales volume is small - at only six percent - relative to the total flat panel TV market, GfK said this represents a 300 percent over the same period last year.
"The aggressive push by retailers and manufacturers for buyers to upgrade from basic flat panel TVs has also greatly contributed to the high demand of such TV models that come with the more advanced feature," noted Benny Villanueva, general manager, GfK Philippines. "With the aid of promotional initiatives like the zero percent installment plan, buyers are able to appreciate minimal price gaps between Internet-enabled TVs and regular flat panel TVs."
GfK said these numbers indicate that Filipino consumers will ask for Internet connectivity for their TV sets.
"Although general awareness level of Internet-enabled TV technology is still considered low at present, declining prices are luring buyers to try out TV sets which come with this new capability," said Villanueva.
The GfK study also showed that one in every three, or 36 percent, of Internet-enabled TV sets sold during the period is a 32-inch. The average price of this 32-inch TV has dropped to less than US$700 in the second quarter.
GfK said this trend is expected to continue, especially as the Christmas season nears. The challenge for manufacturers and retailers is to communicate effectively to consumers the "uniqueness of their offering. To Villanueva this is the "most essential factor in closing the sale.
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