Now’s the Time to Buy…Really?
New TV sets are being released. While announcements about new models came earlier this year, those sets are actually becoming, or soon to become available. Along with those new sets is the constant push from retailers, particularly on-line retailers that this is the time to buy 2020 models, as discounting to clear inventory is at a peak (their words). Given that we have been collecting data on a select set of TV set prices since October of last year, we thought it might be interesting to see how much discounting of 2020 models was actually going on. We didn’t reprice our entire list, but looked at the top 15 sets, which tend to be the ones featured in ads. In particular, we have seen a substantial number of ads proclaiming ultra-low prices for OLED TVs, a number of which are part of that top 15 set list.
According to our data, there were no sets in the top 15 that were selling for a lower price than our last price check a bit over a month ago, and a number of sets, particularly Sony (SNE) models, were higher in price today than last month. All of the OLED models were at the same price as last month or higher (one model), and even outside of the top 15, sets from Hisense (600060.CH), which had varied considerably in price earlier, remained at the same price as last month. The only new sets were from Vizio (pvt), which saw a new 65” set on ‘clearance’ ($949), which has sold for under $900 on Amazon (AMZN) last year.
All in, the best time to buy TVs according to our data was in early February, and while some sets are still at those prices, a number are higher today, making the overall average best in February. While buying TVs is a very subjective purchase, we note that TV set pricing varies considerably during the year, and buying current year models in 1H is usually a poor idea.. Given that on-line sales are becoming a larger part of TV set buying, we note that ads featuring price cuts and discounts can be deceiving, as interim price hikes just before the ‘discounting’ can negate any real savings. This is a game that has been played by brands and retailers since CE products have been available to consumers and at times gets negative press when discrepancies become obvious, but currently there are ways in which to track on-line CE prices and while they can include 3rd party sellers that can skew numbers, they can give at least a basis for comparison. “An educated consumer is our best customer”, a slogan for the now defunct off-price retail clothing chain Syms, is the antithesis of the truth.
Extra Note: LG (066570.KS) is celebrating its 55th year selling TVs by offering to its South Korean customers 2m won ($1,760 US) in ‘benefits’ if they purchase a 2020 8K OLED TV. While that sounds like a lot, the TV (88”) sells for 47m won, or $41,362 US. If you are looking for a less expensive deal in Korea, they are also offering $88 in benefits if you buy a 77” OLED TV and a 55” or 48” OLED TV together…
According to our data, there were no sets in the top 15 that were selling for a lower price than our last price check a bit over a month ago, and a number of sets, particularly Sony (SNE) models, were higher in price today than last month. All of the OLED models were at the same price as last month or higher (one model), and even outside of the top 15, sets from Hisense (600060.CH), which had varied considerably in price earlier, remained at the same price as last month. The only new sets were from Vizio (pvt), which saw a new 65” set on ‘clearance’ ($949), which has sold for under $900 on Amazon (AMZN) last year.
All in, the best time to buy TVs according to our data was in early February, and while some sets are still at those prices, a number are higher today, making the overall average best in February. While buying TVs is a very subjective purchase, we note that TV set pricing varies considerably during the year, and buying current year models in 1H is usually a poor idea.. Given that on-line sales are becoming a larger part of TV set buying, we note that ads featuring price cuts and discounts can be deceiving, as interim price hikes just before the ‘discounting’ can negate any real savings. This is a game that has been played by brands and retailers since CE products have been available to consumers and at times gets negative press when discrepancies become obvious, but currently there are ways in which to track on-line CE prices and while they can include 3rd party sellers that can skew numbers, they can give at least a basis for comparison. “An educated consumer is our best customer”, a slogan for the now defunct off-price retail clothing chain Syms, is the antithesis of the truth.
Extra Note: LG (066570.KS) is celebrating its 55th year selling TVs by offering to its South Korean customers 2m won ($1,760 US) in ‘benefits’ if they purchase a 2020 8K OLED TV. While that sounds like a lot, the TV (88”) sells for 47m won, or $41,362 US. If you are looking for a less expensive deal in Korea, they are also offering $88 in benefits if you buy a 77” OLED TV and a 55” or 48” OLED TV together…
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