UK Audio Visual 2018
"UK Audio Visual 2018", offers comprehensive insight and analysis of the audio visual market which includes: televisions, visual players, TV set-top boxes, home audio equipment, portable audio equipment, optical equipment, games consoles.
It provides in-depth analysis of the following: the key issues impacting the market, strategies for success, market sizes and forecasts to 2023, retailer profiles, retailer market shares and consumer shopping habits and spending motivations.
The audio visual market is set to grow this year, after two consecutive years of decline. Strong sales in audio home equipment, driven by technological advancements around smart speakers, a resurgence in the television market as a result of the FIFA World Cup and consumers continuing to buy into wireless headphones, will all result in stronger audio visual revenue in 2018. However sales are still forecast to fall by 0.2% between 2018 and 2023 as revenue for optical equipment and visual players are expected to decline by 20.9% and 25.4%, respectively.
- The audio visual market is set to recover in 2018, after a challenging five years. This will be driven by improved sales in televisions, impacted by the FIFA World Cup, consumers increasingly buying into smart home appliances and wireless headphones continuing to drive revenue in the market.
- However, the next five years will continue to be tough for audio visual retailers, with sales set to decline between 2018-2023. Although consumer confidence is expected to improve, strong sales in 2018 and 2020 will be difficult to annualise and revenue for visual players and optical equipment are anticipated to continue to decline.
- The percentage of consumers purchasing any audio visual item fell 12.0 ppts on last year to 44.3%. One reason for this is the growing popularity of services such as Netflix and Amazon Prime which offer the convenience of streaming and downloading media to smartphones, tablets and laptops. This means shoppers no longer need to rely on physical media to watch television shows or films, making DVD and Blu-ray players less essential.
- TV set-top boxes and home audio equipment were the categories most purchased on impulse. This was mainly driven by technological innovation and relatively new products to the market such as smart speakers and media streaming devices.
Reasons to buy
- Understand the impact of innovation in smart home on the market and how retailers can capitalise on growing demand for the technology.
- Identify consumers top purchase motivations, television product functionality and size preferences, retailer and brand choice in audio visual to inform retailer buying strategy.
- Analyse the shares and growth rates of each retail channel in the market, how Amazons investment into research & development is disrupting the market and how its rivals can compete.
- Discover how retailers can benefit from the health & wellness trend to drive sales of wireless headphones and sweat-resistant technology.
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