One flat-panel TV set was sold every 1.7 seconds* in the UK in the week before the World Cup, according to market-research organisation GfK. That amazing stat comes from the company's analysis of durable-goods retail sales in Q2 2006.
* Based on a retailing week of 60 hours
During what GfK calls the "five weeks of the World Cup" (27/05 - 01/07), £337m was splashed out on flat-panel sets, helping to drive growth in consumer electronics by a staggering 30 per cent in June alone.
Consumer durables, though, had a bad start this year, with a slight value decline in the first quarter of 0.8 per cent. But June, by GfK's reckons, was the third consecutive month of growth. April saw a rise of 8.8 per cent and was bettered in May (10.4 per cent). Overall growth for durables in Q2 was estimated to be eight per cent.
The World Cup effect also benefited other technology sectors, including notebook PCs. Footie-link promotions are reckoned to have produced notebook growth of 70 per cent during the tournament.
Across Western Europe, the growth rate for sales of TV sets in the week leading up to the World Cup was 39 per cent compared with the same week in 2005. Better still, from a retailer's perspective, the move towards flat-screen saw the average price for TV sets in Europe increased from 548 euros in 2005 to 720 euros at the start of the World Cup.
Discussing the latest stats, GfK commercial director James Randall said, "June has been an excellent month for UK retailers. The UK has really caught the bug for flat-screen TVs, helped by competitive prices, aesthetically-pleasing designs and the launch of high definition. While the greatest boom was over by the World Cup kick off, the fact is that, with only around 12 per cent of households owning a large-screen flat TV set, there is still huge potential for the product going forward."
However, the World Cup wasn't all good news for retailers of durables. The two weeks with the lowest growth rates in Q2 were those in which England played on a Saturday afternoon.
About GfK monthly figures
The durables retail market that GfK analyses takes in consumer electronics, domestic appliances and DIY, telecomms, photo, IT and office products. Figures are derived, the company says, from 71,000 outlets, using live sales data.
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