In the past decade or so, the TV viewing experience of Indians has significantly changed to a large extent, thanks to the introduction of Smart TVs, which has enabled them to upgrade their tastes from the smartphone to a larger screen whilst having an illuminating experience in doing so.
The massive popularity of OTT platforms has affected theatres immensely as people much prefer watching movies online rather than go and waste money for popcorns, soft drinks, and other things.
Smart TVs now offer a theatre-like experience, which has significantly increased the demands for wider screens across the country, which continues to grow with each passing day as people want to get a theatrical experience with their smart TV sets.
Flipkart has offered its own insights in the matter by claiming that the demand for 43-inch TV (4K especially) over 32-inch TV has rapidly increased in the first half of 2022 over 2021, in fact, more than doubled within this time period.
This also represents a noticeable shift in the consumer’s preference from previous years as they want to have a surreal experience of watching their favourite flicks on a 35 or 70mm screen but in their homes via their Smart TVs, which the makers are constantly trying to accomplish.
During the January-July 2022 period, there was 2 million increase in searches for premium large screen TVs, which is a massive increase compared to the previous years the customers want to avail the best options available in the market, which is why they’re looking for better resolution (FHD or 4K) and features such as 4K UHD, Dolby technology, smart assistant, among others.
This trend was also consistent in the recently concluded Flipkart’s Big Billion Days Sale event with both small and larger screen TV sets being one of the most sold items than ever, which was a huge number compared to the previous years.
The customers were able to upgrade their tastes by utilizing the availability of large screen TVs, which coupled with affordability constructs like Buy Now pay later helped them in deciding accordingly as to what they wanted.
While metros accounted for over one-fourth of the demand, tier 3 cities and beyond hold nearly 50% of the demand share, which is not surprising at all as metro cities have always had an edge over smaller cities in this matter.
There were many affordable payment constructs such as No Cost EMI, Debit Card EMI, which helped over 30% of customers upgrade to large screen TVs using the former constructs from January-July in 2022 over the same period last year.
Hari Kumar, Vice-President, Large Appliances at Flipkart said, “The Television segment has been a rapidly evolving category in India over the past few years and Flipkart has been at the forefront of enabling customers to upgrade seamlessly and in an affordable manner. In the first half of this year and during the Big Billion Days, 43’ inch TVs have emerged as a clear winner as an increasing number of customers are preferring larger screens to have an immersive TV viewing experience. At Flipkart, we believe that we’ve democratized the ‘big screen experience’ for India and Bharat and are dedicated to meeting the changing demands of our consumers by working with our seller partners.”