Hunting for a TV? See how you can save £Thousands!

Hunting for a new tv?

If you’re currently weighing your options for investing in a new TV set, keep reading because we have great tips for you. Whether you’re currently in the market for the newest TV models or just want a good TV at a good price, these bits of advice will help you find the best deal.

PriceRunner is the UK’s leading product and price comparison service, and we’ve conducted a comprehensive review and analysis of what happens to the prices of TVs from the day they are released and months beyond.

The results were incredibly clear:

It’s both expensive and daft to buy a new TV immediately when it first hits the stores. You ultimately end up paying all too much for that newest model. The most advisable thing to do is to simply wait a bit, because the TV prices drop dramatically over time, says Martin Andersen, Manager of PriceRunner UK

PriceRunner is the UK’s leading product and price comparison service with more than 1.1 million products from over 3,000 online stores one can compare on the platform.

Tip 1: Hold off on buying if the TV has just hit the market

Our price analysis is driven by data from the 50 most popular TV sets that Britons were eyeing during the course of 2019. The analysis revealed a distinctive pattern.

Martin Andersen: Prices for TVs often start out very high but after 4-6 weeks, there’s a dramatic change, often due the first large fall in price, followed by a long series of further price reductions. On average, it’s a 15% drop but for many TV sets, that price reduction can be significantly larger.

In some cases, only a few days pass before that first and largest price reduction comes.

The extensive analyses of pricing developments for TV sets in the British market revealed that prices on average fall by 42% over time from when they first hit the market.

The most sought-after TV set for Britons is the 55-inch display from LG. When it first entered the market in the start of April 2018, it costed £2,999. The price today sits at £1,299 in the cheapest stores, which represents a 57% drop in the sales price over a year.

The average price reduction for the 10 most popular TV sets collectively is 46%. The largest price reduction in the Top 10 applies only to the most popular TVs in the UK.

There’s a lot of competition in the TV market and as soon as the prices begin to drop noticeably for a TV, its popularity grows. The large price reduction is a clear boon to consumers who are itching at the prospect of getting a new TV and are waiting for the price to drop, Andersen suggests.

Wait and save up to thousands of £s

During Spring, TV manufacturers release their newest and most modern TVs models to the market. Without a doubt, it follows the same pricing pattern that we experienced the past year. High initial prices that will drop over the course of the year.

Tip 2: Buy a model from the previous year – and save big!

PriceRunner’s analysis of the prices of TV sets uncovered that when searching for 55-inch TVs, people usually settle on and choose a TV that has been on the market for a while.

There can be substantial differences in the prices between 2 versions of a TV model but little difference in their quality or functionality. Therefore, we don’t hesitate to give this piece of advice because of course you want to have a great TV and save your money simultaneously - so buy the model from the previous year. - Martin Andersen, the Manager of PriceRunner UK

Huge Price Differences for Identical TVs

PriceRunner always recommends that consumers should compare prices before they buy. This also applies to when we’re looking to buy a new TV. A recent price comparison of the prices of the 10 most popular TVs in the UK revealed noticeably large differences in prices for the exact same TV.

Again, we can take the example of the most popular 55-inch TV from LG. It costs £1,764 in the most expensive store, but the same model costs £1,299 in the cheapest store. This is a 36% difference in pricing.

This means that you, as a consumer can save £465 or 26% on your purchase when buying in the cheapest store, rather than the more expensive ones. Huge savings can be found just by comparing prices!, explains Andersen

Compare prices on tv and save money

Tip 3: Get Notified When Prices Are Reduced

Here’s a great suggestion for those who are on the lookout for a new TV and already have an idea of what TV they would want but the price for it remains at the higher end of the scale.

Set a price alert via PriceRunner and the moment the price on that TV drops, you’ll be made aware of it. If the price has fallen enough for your liking – it’s easy pickings, says Andersen

Price alerts are recommended for TVs, which are often only briefly on offer and are likely to earmarked for price reductions in the Fall. This is especially the case with new models being launched and the upcoming sales for Singles Day and of course, Black Friday.

The Prices Have Fallen Considerably