Retail sales of TVs in the China market around the Labor Day period (April 12-May 2) reached 1.79 million units, decreasing 23.7% from a year earlier, according to data compiled by China-based AVC.
In terms of sales value, TV sales totaled CNY6.8 billion (US$1.088 billion), up 6.6% from a year earlier.
An over 30% increase on average in TV prices since the third quarter of 2020 and changing purchasing behaviors by consumers have affected TV sales in the China market, according to industry sources.
Online TV sales reached 970,000 units, or 54.4% of total sales, during the period, the data showed.
However, sales of large-size TVs increased significantly during the period. Shipments of over 65-inch models grew 9.6pp to account for 28.5% of online sales and expanded 12.3pp to account for 43.5% of offline sales, AVC reported.
Meanwhile, offline sales of ultra large-size models, mainly 82- and 85-inch ones, edged up 2.2pp to 4% of total offline sales.
As TV panel prices and their correspondent TV prices in the device market have continued rising, TV sales during the 618 promotional season in China are likely to fall 13.9% on year to 2.84 million units, AVE estimates.
Some market observers have warned that demand for TVs may continue to fall in the second half of 2021 due to persistent price increases of TVs in the end market.
Besides, consumer spending may switch from household consumption to travel, sightseeing and other activities affecting demand such as for TVs in the end market, if vaccination achieves good results in major economies such as Europe and the US in the latter half of the year.
