Best Buy Reveals 89% Of Consumers Don't Fully Understand HDTV
Frustrated with the amount of HDTVs returned last Christmas season, as well as the number of customers entering stores equating flat-panel TVs with HDTVs, Best Buy recently commissioned a study that shed light on the lack of consumer education available for potential buyers of HDTVs and how that has affected Best Buy's sales.
Best Buy estimates that it takes in around 70% of its annual profit during the Christmas season and they expect to rely on flat-panel HDTV sales to fuel much of that profit. So, they must have found it shocking that the study, conducted in the form of a survey of 1012 consumers nationwide in early August, revealed that "89% of people lack a complete understanding of HDTV technology" and 48% completely underestimate the costs of buying one.
What's the reasoning behind the high numbers? Well, you must remember that if you're looking for a flat-panel TV you're not necessarily looking for an HDTV. Purchasing an HDTV isn't just a financial committment that ends once you purchase the TV. You must upgrade to an HDTV service provider and consider additional costs for cables, audio equipment and other related products.
Best Buy has moved to correct this by launching an "HD Done Right" education campaign on its website where the company provides resources that allow you to design the best HDTV package for your needs. They also provide links to a wealth of home entertainment information on CNET.com.
Obviously the majority of the education program is meant to increase awareness of Best Buy products, so we'll be offering in anticipation of the coming Christmas season a whole line-up of articles solely devoted to increasing your knowledge of HDTV so you can make the perfect purchase this holiday season.
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Posted by Justin Davey at September 25, 2007 6:00 AM