Only 13% of U.S. Consumers Plan to Buy TVs In Next 12 Months

IHS iSuppli: Intent to purchase down sharply from 32% in Q1 2011
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Just 13% of American consumers who haven't purchased a TV set in the past quarter plan to do so within the next 12 months, according to a survey by research frim IHS iSuppli.

That's down sharply from 32% in the first quarter of 2011. The 83% of respondents who said they do not intend to buy a new TV set within the next 12 months compares with 66% who said the same during Q1 2011.

"The latest survey indicates a tremendous shift in preferences among an increasingly cautious buying public, unnerved by the continuing gloom of the economy," IHS iSuppli analyst Riddhi Patel said. "The findings suggest a growing willingness among U.S. consumers to suspend -- if not totally abandon -- their ongoing love affair with the television."

About 4% of consumers in the most recent IHS iSuppli study said they received televisions as a gift, up from 2% in the first quarter of 2011.

Click here to read the full story at Multichannel.com.

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