Prices Down, Public Interest Up

New National Survey Spotlights High Demand for Flat Panel TVs 


RICHMOND, Va., Sept. 29  /PRNewswire/ -- With prices in sharp decline, consumer interest in flat panel televisions is growing and a new national survey* from electronics retailer Circuit City highlights this trend.

Nearly 4,000 people who own conventional tube TV sets responded to the survey; 86 percent said they would like to own a flat panel TV.

What's been holding them back?  Prices; 94 percent said prices were too high.  But a majority of respondents (52 percent) acknowledged they were not aware of recent price drops.

"We've seen retail prices of flat panel televisions come down around 30 percent in the past year," said Doug Moore, senior vice president and chief merchandising officer at Circuit City.  "New factories overseas have come on line and are producing larger supplies of flat panel TV components.  At the same time, electronics manufacturers are eager to compete in the marketplace. It all adds up to great news for consumers.  The price drops amount to hundreds, or in some cases well over a thousand dollars for larger sets."

Flat panel TVs use liquid crystal display (LCD) or plasma screen technology, both of which offer a digital viewing experience from a set that takes up much less space than a conventional tube TV and harmonizes more easily with home furnishings.

Nearly 700 people who own flat panel TVs also responded to the survey; they cited several reasons for buying the sets, including better picture quality, sleek design factor and the ability to hang the TV on the wall. A few even admitted they enjoy seeing the envy in their neighbors' eyes.

  Additional survey findings from people who own flat panel TVs:

   * 71 percent are happy they bought their flat panel TVs when they did; 21
     percent wish they'd made the jump earlier
   * 60 percent said they purchased large screen sets (30 inches and larger)
   * 74 percent said they put their flat panel TVs in a family or living
     room; others put the sets in the bedroom, kitchen and even the bathroom
     (2 percent)
   * 22 percent own more than one flat panel TV

  More findings from people who own conventional tube TVs:

   * 59 percent are attracted to flat panel TVs because of better picture
     quality; 40 percent like the TV's sleek, high-tech design or ability to
     wall-mount them
   * 49 percent plan to shop for a new TV within the next year
   * 51 percent will specifically shop for a flat panel TV; 45 percent said
     they need to see the sets first-hand before deciding what kind of set
     to buy



*The Circuit City TV/Home Entertainment survey was commissioned by Circuit City Stores, Inc. and conducted on the Internet by Decision Analyst, Inc. of Arlington, Texas.  The margin of error is +/- 2% for the total sample, and +/- 4% for the sub-sample of flat panel TV owners.

About Circuit City Stores, Inc.

Circuit City Stores, Inc. is a leading specialty retailer of consumer electronics.  The domestic segment operates through 618 Superstores and five mall-based stores in 157 U.S. markets. The international segment operates through more than 930 retail stores and dealer outlets in Canada.  Circuit City also operates Web sites at http://www.circuitcity.com/ and http://www.thesourcecc.ca/.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20010709/CCLOGO ) 

http://www.newscom.com/cgi-bin/prnh/20010709/CCLOGO

http://photoarchive.ap.org/

DATASOURCE: Circuit City Stores, Inc.



CONTACT:  Amanda Tate, public relations of Circuit City Stores, Inc.,

[phone]



Web site:  http://www.circuitcity.com/

http://www.thesourcecc.ca/ 

Copyright