TV Sales Could Skyrocket During ICC Men’s Cricket World Cup 2023 Festivities
The ICC Men’s Cricket World Cup 2023 started on October 5 and will continue till November 19. Since 1987, the Cricket World Cup tournament has coincided with India’s festive season.
Every year during the winter holiday season and sporting events, sales of electronic products and other consumer devices increase.
According to industry experts, sales in the home appliance and consumer electronics industry are estimated to cross Rs 70,000 crore this year, with the festive season accounting for around 25-27 percent of this sales.
In a country like India, where people are crazy about cricket, the tournament boosts sales of consumer electronics. Broadcast Audience Research Council (BARC) reports that 700 million viewers in India watch sports on smart TVs, with cricket leading the way across sports. Therefore, TV manufacturers are ready for new models, fresh advertisements and innovative campaigns.
According to MediaSmart’s 2022 CTV study, 83% of viewers watch shows online on smart TVs, while 84% of households prefer CTV (combined television), where multiple people watch together at home.
Smart TVs are growing in popularity in India as more people upgrade their TVs to get OTT content and larger screens. With several companies regularly launching new TV models, the smart TV market in India is constantly growing. Super Plastronics Pvt Ltd (SPPL), which manages international TV brands including Blaupunkt, Thomson, Kodak and White-Westinghouse for the Indian market, expects the TV market to grow despite a decline in the first half of the year. SPPL CEO Avneet Singh Marwah said, “The TV industry needs a boost as the first half of the year has remained flat due to various reasons. However, with the festive season and the World Cup approaching simultaneously, the buying sentiments are expected to change significantly. We expect a spike of over 35-40 percent in large screen sizes, especially when they are broadcast in both Full HD (FHD) and 4K.
According to Counterpoint Research Report, the holiday season could lead to an increase in smart TV shipments in the second half of 2023. In addition, there is a clear trend in the TV industry towards increasing fees, and it has increased by 18% compared to a year ago. year-on-year growth in demand for larger 55-inch and older smart TVs. A study by Counterpoint Research noted that “QLED TV shipments grew by more than 21 percent in the first half of 2023, and their share of total smart TV sales is expected to continue to grow.”
SPPL’s Kodak is the first Indian TV brand to officially partner with Google for Android to bring an Indian-made and affordable smart TV series with Android 10. Mobile companies are also entering the television manufacturing sector. Marwah said, “Two major smartphone players are entering the TV business in India. Thomson customers can look forward to exciting product launches and unprecedented offers as we celebrate our 130th anniversary. Also, two major smartphone players are entering the TV business in India. However, customers may hesitate to buy their TVs due to potential service issues.” .Thomson aims to capture significant market share this festive season and become the number one brand online.
Meanwhile, India’s second largest selling TV brand Samsung launched a wide range of TVs for India’s cricket and festive season. Samsung offers a variety of TVs including Neo QLED, OLED, Crystal 4K iSmart, Frame and more. Mohandeep Singh, Head of Visual Display Business, Samsung India, said, “The festive season is off to a great start with consumer sentiment reaching an all-time high in October. Traditionally, TVs are in strong demand during the festive season, but this time the Cricket World Cup has added to the excitement. Our large display models – 55″ and larger — are flying off the shelves as consumers want to get closer to the action with a stadium-like experience in the comfort of their own home. Sales of our premium TV line-up of Neo QLED, QLED and OLED models are up 2.7 times year-over-year.”
Consumers are now more online centric than their old offline shopping habits as online retailers are offering numerous exciting discounts and offers. Likewise, on October 8, the Amazon Great Indian Festival 2023 sale started. The online retailer also ran deals on smart TVs from top manufacturers, including Samsung, OnePlus, Sony, LG, Xiaomi and Kodak, listed at up to 60 percent off. Saurabh Srivastava, head of Amazon India said, “We watched the Cricket World Cup, our focus is mainly on TV and sound systems. We have special offers on TV products for every consumer. We have smart TVs starting at Rs 5,999, the most affordable latest TV”.
Introducing Alexa and Fire TV, he said: “Enjoying the World Cup on the big screen can be even more fun with Alexa. Fire TV and Alexa can be an ideal partner during the tournament. A voice assistant can help light up the big game on TV and enhance the viewing experience on Fire TV Alexa With Voice Remote. With smart home accessories, Alexa can help you create the right atmosphere, adjust mood lighting and much more. Dive into an exciting experience with Alexa and make the most of the World Cup matches. Alexa can be your partner in the World Cup 2023, right from live TV for real-time updates. This World Cup season, Alexa can be the best partner to help you get the most out of cricket matches. From trivia to live updates, Alexa lets you do so much more.”
According to Axis My India’s recent India Consumer Sentiment Index (CSI), 47% of consumers will choose traditional TV, satellite or cable services to watch the 2023 ODI World Cup. The research report stated that “47% of respondents indicated that they intend to tune in via traditional television using DTH or cable services. 27% indicated the growing influence of digital trends and indicated that they wanted to follow the event on their mobile devices. A significant 9% showed excitement to experience the tournament live as they planned to attend matches at the stadium.
