LOS ANGELES--(BUSINESS WIRE)--One of the hottest gifts this holiday season won’t be easy to wrap and will definitely have trouble fitting under any tree.
Giant, 60’’-plus high-definition TVs are shaping up as one of the strongest retail sellers this holiday season. According to DEG: The Digital Entertainment Group, consumers are either upgrading to big, 60”-plus HDTVs or accelerating their conversion from cathode-ray tube televisions. Enticed by the razor-like sharpness and crystal clear sound large HDTVs offer, technological advances, expanded content and lower prices consumers are deciding the time is right for a major upgrade in the way they enjoy films, TV shows, sports and videogames at home.
By December 31st, some 1.3 million 60”-plus HDTV sets are expected to have been sold for all of 2011, up 50% from a year ago, with a substantial number of those sold in the final quarter during this holiday season.
Two key reasons for the growth this year: the widespread adoption of the Blu-ray Disc format, with players now in nearly 34 million homes, software sales up 58% in the third quarter from a year earlier and such Blu-ray titles as Star Wars: The Complete Saga, Bridesmaids, Harry Potter and the Deathly Hallows: Part 2, Transformers: Dark of the Moon, and The Smurfs boosting holiday sales. In addition, major advances in home 3D technology have made watching titles such as the recently released The Lion King 3D and Green Lantern 3D in the family room at home a fully immersive experience.
In fact, this is the first season 3D-equipped HDTV is expected to have a significant impact on holiday sales, with more than 10% of LCD and Plasma sets equipped with the technology.
“TVs are one of the most in-demand holiday gift items every year, and we’re hearing from shoppers that this year is no different,” said Allison Dahlien, senior marketing director for the home theater group at Best Buy. “The value, especially in large panel and 3D TVs sold at Best Buy, has never been better as consumers realize the benefits of a larger screen size. We have created a unique 3D experience in our stores that allows customers to engage in all of the great content 3D has to offer, including sports, movies, gaming and personal content.”
The good news for consumers who want a high-def holiday is that the HDTV experience is now more affordable than ever, with some 60”-plus sets priced at $1,000 and less. Blu-ray Disc players also have significantly dropped in price, with some as low as $100 that can also be connected for Internet streaming.
About DEG: The Digital Entertainment Group
The DEG is a Los Angeles-based, industry-funded nonprofit corporation that advocates and promotes the many consumer benefits associated with various home entertainment products, including both physical and digital media on a variety of platforms. The DEG helps provide information and perspective about the home entertainment industry.