Enjoy a 15% discount on all purchases until the 31st of March 2023 using the promo code EOFWEB22 at check out!

Appliances and Electronics Our insights capture shifts in consumer lifestyles and themes impacting the global consumer appliances, electronics, and toys and games markets. Themes include new business models, sustainability, innovation and the future home.

Improving Prospects for Televisions on the Horizon

Euromonitor International Profile Picture
Euromonitor International Bio

The 2008/2009 recession led to a decline in demand across a wide range of consumer products. Capital flow restrictions were particularly damaging to products reliant on consumer financing, such as cars. Consumer electronics were largely spared a drastic decline in demand and many product categories such as smartphones continued growing. Even televisions saw very few declines in the midst of the recession and in some markets sales even grew rather dynamically. While the drivers of this growth differed, the glut in sales over 2008-2010 makes for a more favourable environment for digital televisions over 2014-2016 as the sets purchased during the recession approach the end of their service life.

Volume Sales of Digital Televisions During the Recession


Source: Euromonitor International


As the recession spread across the globe demand for televisions was supported by a range of different factors. In Japan the government introduced subsidies to drive demand. In North America and parts of Western Europe, cocooning emerged as a key sales driver. With rising uncertainty and falling incomes, many households in developed markets saw televisions as inexpensive entertainment options. This drove demand for primary televisions as consumers bought large, high-end televisions for use in the living room or family room, especially as manufacturers started to cut prices.

This was followed by a shift in subsequent years to small secondary televisions. This favoured low-cost sets and was a significant contributor to the success of brands like Vizio. A shift back to larger models without the weight of the recession limiting spending will accelerate the adoption of UHD televisions over 2014-2016.

A Big Help for Sony Corp and Sharp Corp

The glut in demand was particularly drastic in Japan where the government’s Eco Point scheme provided substantial incentives for the purchase of energy-efficient electronics and appliances. Volume sales of digital televisions in Japan grew from less than 10 million in 2008 to a peak of 25 million in 2010. With Panasonic Corp winding down its consumer operations, Sharp Corp and Sony Corp could see significantly improving domestic revenues as those who bought televisions over 2008-2010 start to look for replacement models.

Interested in more insights? Subscribe to our content

Explore More

Shop Our Reports

World Market for Major Appliances

In 2022, major appliances volume sales declined by 2% compared to 2021. Yet, the industry continues to evolve and adapt to the current reality. Emerging…

View Report

Small Appliances in Asia Pacific

After falling for two years, Asia Pacific sales of small appliances recorded positive, albeit very modest, growth in 2022, with the dynamic Indian market…

View Report

Major Appliances in Asia Pacific

China’s struggles with the Omicron variant across much of the year meant that sales of major appliances declined in 2022, resulting in slightly negative growth…

View Report
Passport Our premier global market research database with detailed data and analysis on industries, companies, economies and consumers. Track existing and future opportunities to support critical decision-making across all functions within your organisation Learn More