There are some advantages to a global recession. The main one being that both retailers and manufacturers tend to drop prices in order to shift stock. And that is exactly what is happening at the moment with high definition televisions.
The move to high definition continues apace, with more and more devices supporting the standard. But an essential piece of kit for any High-def operation is an HD ready TV. At the moment, you have a choice of LCD and plasma, although it seems LCDs are not only improving in quality but becoming the standard choice for first-time consumers.
Neither plasma or LCD televisions are cheap at the moment, although prices have dropped considerably over the past couple of years. But we could be at the start of a major price-cutting campaign on all flat panel televisions over the next few months. Manufacturers have already begun dropping prices and retailers are starting to follow suit.
According to The New York Times, this trend is occurring because the economic recession has made people more careful with their money, especially when it comes to big, luxury purchases.
Paul Gagnon, DisplaySearch’s director of North American TV market research, states that prices of all size LCDs and plasma are likely to drop by between $50 and $300 before Christmas. So anyone keen to buy this side of 2009 may want to wait just a little bit longer.
To make up for the loss in profits, retailers are also likely to up the pressure on customers to buy add-ons, be it in the form of extended warranties, Blu-ray players, or even games consoles.
I’ve actually already seen this price cutting trend in action. I’m in the UK, but have been shopping around for a big screen LCD for a few months now. In the last week, I have seen models that were over my budget range at the start of the search suddenly become affordable. I ended up buying a Sony Bravia 40″ TV for abut £200 ($400) less than the original price.
As always, it’s worth shopping around and visiting price comparison sites and specialist forums to find the latest deals. But for anyone in the market for a big screen TV, this holiday season looks like being a good time to buy. That is, of course, assuming you haven’t been too badly hit by the recession yourself.