Price most important for TV customers

A report out today has revealed that regardless of income, price is the most important factor for consumers when considering where to buy their next television.

The report, conducted by iSuppli to look into the US television retail market, found that those on a higher level of income often placed more emphasis on price than those on a lower income and were prepared to travel further to get those prices in combination with a larger selection.

It also found that for consumers on incomes less than $25,000 (£12,700), location was the next most important factor when considering a television purchase.

Perhaps due to credit concerns and a faltering economy, both income groups put less emphasis on payment options, with those on a higher income placing slightly more importance on payment options, but still less than three per cent.

"With the imminent transition to Digital Television broadcasting in the United States and heightened consumer interest in flat-panel TVs, retailers of all types – including major consumer electronics chains, warehouse clubs, discount department stores and online services – are boosting their line-up of flat panels in an attempt to get a piece of this $100 billion industry," said Tina Tseng, an analyst covering consumer electronics channels at iSuppli.

The report also revealed that 40 per cent of customers bought their televisions from national chain stores, while 23 per cent bought theirs from discount stores.