China color TV market forecast to 2025 freshly released!

Quoted from Cheaa.com

The year 2024 has come to an end, reviewing the performance of the color TV market from January to November 2024, AVC pushed the total data to show that the retail volume of China's color TV market from January to November 2024 was 27.76 million units, a year-on-year decline of 2.0%, and the retail value of 113.6 billion yuan, a year-on-year increase of 15.3%. China's color TV market from 2020 onwards, the market scale gradually contracted, “volume and value decline” has become the year-end summary word of the color TV market in the past few years. After the implementation of the consumer goods trade-in policy, the market appeared to raise the phenomenon, AVC pushed the total data showed that from September to November this year, the color TV market “volume and amount of double increase”, the retail volume increased by 10.0% year-on-year, retail sales increased by 33.1% year-on-year, the “national subsidy” policy for boosting consumption, and the “national subsidy” policy for boosting the consumption of color TV. The “national subsidy” policy has played an obvious role in boosting consumption. In the current color TV market pattern, its demand structure presents distinctive features. From the point of view of overall demand composition, replacement demand dominates, and the proportion of new demand is low. Further in-depth analysis of the replacement demand situation will find that there exists a more prominent phenomenon, that is, a considerable proportion of consumers are based on the demand for new replacement after using color TVs for more than a year. In the actual market consumption scenario, many consumers are still using color TV products that have exceeded the normal service life, and with the passage of time, the scale of potential demand for new replacement accumulated by this kind of over-age use should not be underestimated.

In this market background, the launch of the old-for-new policy is of crucial significance and value. The policy accurately targets this huge potential replacement demand group, and through a series of attractive preferential measures and convenient operation process, it effectively stimulates this part of the potential replacement demand which was originally in a dormant state, and prompts it to accelerate into actual purchasing behavior, which then plays a strong role in activating and boosting consumption vitality of the whole color TV market, and becomes one of the important policy driving forces to promote the stable and good development of the color TV market. It has become one of the important policy driving forces to promote the stable and good development of color TV market. Similarly, the policy dividend is expected to continue to next year's color TV market and form a strong pulling effect. AVC pushes the total prediction data to show that in 2025, the two major demands of China's color TV market basically remain stable, and on this basis, the retail scale of color TV market is expected to usher in a small rebound. For the whole year, the retail volume of China's color TV market in 2025 is expected to reach 31.5 million units, a slight increase of 1.4% year-on-year, and the retail value will reach 130.4 billion yuan, an increase of 1.3% year-on-year.

Looking at the specific rhythm, the market dynamics in the first quarter is more special, and the pressure faced by the market is relatively more significant due to the role of the key factor of early Spring Festival. In addition to the impact of this change in rhythm, there are still many key uncertainties on the policy side, which will make enterprises and channels in the wait-and-see and anxiety. First, the subsidy method is a core concern when the subsidy funds will be available. Second, whether or not there will be changes in the categories benefited is also an issue of great concern to enterprises and channels. Finally, the size of the subsidy is also crucial, the subsidy directly determines the actual magnitude of discounts that consumers can enjoy when purchasing color TVs, which significantly affects consumers' purchasing decisions. Although there are many uncertainties in the external environment, from the internal point of view, structural upgrading will surely become a definite development trend of next year's color TV market, and the continued high penetration rate of large-size, Mini LED, and high-efficiency products will drive the retail sales of China's color TV market to further increase in 2025.