London, Thursday 9th June 2016: With UEFA Euro 2016 just a day away and the demand for TV’s increasing, is this month a good time to purchase a new one?
hotukdeals, the UK’s largest social commerce platform, analysed almost 1700 deals submitted by its members from April through to July in 2012 and 2014* when football tournaments were being played and found that average market prices of TV’s and projectors increased by an average of 23 per cent in the month that the tournaments started.
In May 2012, a month before the UEFA Euro 2012 tournament started, the average market price for a TV was £594 (as found by the members of hotukdeals). This increased to £735 during the tournament in June (up 24 per cent) then dropped again to £579 in July. The average market price for a TV in April was almost as high as June at £724.
In April 2014, two months before the World Cup started, the average market price for a TV was around £753 (according the members of hotukdeals) and this decreased to £565 in May of the same year. Like the UEFA Euro 2012 tournament, average market prices increased during the tournament to £689 in June (up 22 per cent on May) and dropped again when the tournament finished in July to £536.
As prices rise during the months of a football tournament consumers should be skeptical about discounts offered by some retailers, especially in June when these events tend to take place.
In May 2012, a month before the UEFA Euro 2012 tournament started, the average deal price of a TV or projector, as spotted by the members of hotukdeals, was £428 with an average saving of 25 per cent off the cost of a TV or projector. During the tournament in June, the average deal price increased to £582 – an increase of 36 per cent, with an average saving of 19 per cent. The average deal price improved when the tournament ended with deal prices averaging at around £443 during July (£138 less than June). In July the average saving went up to 23 per cent off the cost of a TV or projector.
Average deal prices on TV’s and projectors followed the same pattern throughout the 2014 World Cup with deal prices averaging £459 in May 2014 and increasing to £562 during the tournament in June (up 22 per cent). Average deal prices improved in July 2014, like July 2012, to £404 (£158 less than June) with an average saving of 21 per cent off the cost of TV’s and projectors as found by the members of hotukdeals.
Looking at deals posted in April 2016 and May 2016, the average saving that could be made on TV’s and projectors was around 15 per cent off, the lowest compared to all other years analysed.
Despite this, in April 2016 the average market price dropped 20 per cent compared to April 2014 to £603 with the market price for May 2016 being 6% higher than May 2014.
Looking at the statistics, if your readers are looking to purchase a new television they should wait until after the UEFA Euro 2016 tournament ends as the increasing demand during tournaments results in higher prices. In July, savings can expect to increase as per the tournaments in 2012 and 2014 when consumers saved, on average, 22 per cent.