As the excitement of the ICC Cricket World Cup 2024 reaches fever pitch, television sales have seen a remarkable surge, particularly for larger screen sizes. Sales of televisions sized 55 inch and above have grown by more than 40% compared to the same period last year. This unprecedented increase is a testament to the fervour and enthusiasm surrounding the tournament, as cricket fans gear up to enjoy the matches on big screens.
The market impact of this surge is also due to Summer Vacations, coupled with Heatwave which has led to people staying indoors, resulting in high viewership, and hence LED TV demand. All major Brands like DAEWOO, Samsung, LG, and Panasonic have registered “unprecedented bumper sales” during this period. These companies are facing challenges in meeting the “instant installation” demands of eager consumers. To capitalize on the ongoing World Cup, many companies and online TV retailers initiated their “festive sales” earlier than usual, reaping the benefits of this strategic decision.
One of the key factors driving this spike in sales is consumer behaviour. The much-anticipated India-Pakistan match has led to a surge in demand. People are excited and demand immediate installation, which has led companies to take special care in ensuring that TVs are installed on the same day they are delivered. This attention to quick service has contributed to a four-fold increase in sales compared to a regular month.
In terms of technology, consumers are showing a strong interest in advanced features and superior viewing experiences. DAEWOO, in particular, has captured the market’s attention with its high-quality Korean technology. DAEWOO TVs are renowned for their Korean craftsmanship, high-resolution LED display screens, superior sound quality, and seamless connectivity options. Each DAEWOO TV comes equipped with advanced features such as light sensor technology, easy setup, and web browsing capabilities. DAEWOOs webOS HUB SMART LED TV range that includes the DW75S (190 cm), DW65S (165 cm), DW55S (139 cm), and DW50S (120 cm), has seen their sales jump in the first Launch year itself. These models are powered by WebOSU (Web Operating System) and feature a frameless design, light memory efficiency, 4K UHD Premium Series, panoramic viewing, in-built picture booster and sound system for a theatre experience, anti-glare screen, two-way Bluetooth, and a magic remote.
“Consumer behaviour reveals that fans want an uncompromised experience, driving demand for larger TVs. People are clearing their schedules to watch entire matches from the first ball to the last. Large screens with superior brightness and contrast are a must. We are happy to see customers’ curiosity in the latest picture technology from Korea. Features like ultra-wide colour, high dynamic range, and smooth motion enhancements create amazingly lifelike images—you feel like you’re at the stadium,” said Mr. H. S. Bhatia, Managing Director of Daewoo India.
Brands have geared up with extra stock and staff for speedy delivery and setup to meet the fan frenzy. Experts predict this sales momentum to persist till the World Cup final, offering a significant revenue boost for the year.