A recent YouGov report on television ownership explains why TV set manufacturers should be focussing more pertinently on the 16-24 years old demographic as they battle for a market share in an ever changing technological landscape.
The UK TV set industry continues to deliver a number innovations to invigorate the market. It is however, the way that young people consume content today which may present a challenge to manufacturers.
A fifth of 16-24 year olds do not own a television, compared with only 2% of 25-39 year olds, suggesting that younger viewers use devices such a laptops, tablets and smartphones to watch their desired programmes.
The desire for the latest product is underlined in the report. 45% of those aged 55+ only replace technology products when they are wrong or are broken, compared to 13% of the youngest age group. 14% of the youngest group are keen to get products are soon as they are launched, against just 3% of the 55+ demographic.
While there is good news overall for bricks and mortar stores regarding where TV sets are purchased, again we see a trend emerging among younger people. Overall, seven in ten (70%) bought their last television in-store. However, a third of 16-24 year olds bought their last TV related hardware online. There does not appear to be a great deal of brand loyalty for younger consumers. Only 8% of this group say the brand or manufacturer is important when choosing a TV.
James McCoy, Research Director YouGov Reports, commented on the findings: “Viewing habits - particularly among younger consumers - are changing, as more consumers watch TV programmes on their tablet or smartphone. Our report outlines how vital it is for television manufacturers to adapt and continue to appeal to the younger demographic.
Younger consumers need to be made fully aware of the benefits of newer televisions sets and they advantages they have over more portable viewing methods, such as tablets and smartphones"