As the cricket fever is rising in anticipation of the T20 World Cup in Pakistan, the sales of TVs have gone up in the domestic market despite high inflation and the lower purchasing power of the masses.
Cricket lovers will be glued to the screens to view matches of the T20 world cup hence they are buying LED TV sets or LCD monitors to enjoy the entertaining tournament at their workplace or home.
Yes, the sale of LED sets have grown in the last couple of weeks but the business trend in the domestic market is not very encouraging at present due to a staggering hike in prices of various branded and Chinese TV sets, said Rizwan Irfan, President of Pakistan’s largest wholesale group Karachi Electronic Dealers Association (KEDA).
Seasonal sales of LED TV sets have dropped by 60 to 70% in the domestic markets. Buyers prefer to purchase small to mid-sized screens as compared to larger screens, he added.
According to market sources, LED TVs of renowned brands are available from Rs. 30,000 onwards whereas Chinese brands are available from over Rs. 20,000. The price range of these TVs varies by up to Rs. 25,000 in local markets and company-run dealer shops.
Rizwan added that the high inflationary trend has dampened seasonal sales at the local market as prices of various TVs went up by 30% in just one year.
Seasonal sales of LED TVs and their prices will show interesting trends depending on the performance of the national cricket team. It may continue to go up as the green shirts secure victories against rival teams, and the prices will also show a similar trend in the local market.
Of course, the match of Pakistan against India has great importance in the tournament as well as TV sales. If this game comes in the middle of the tournament, the sales could be much higher than at present. In case of victory, there is a hope of further sales growth in the local market.
Similar to new LED TVs, the sales of used LED TVs and LCD monitors have also have gone up in the market. They are usually available at 30 to 40% percent of the prices of new sets.