Electronics sellers announced a rise in prices for TVs

At the end of 2022, the price of TVs increased by an average of 10%, primarily due to expensive models, sellers of equipment estimated. According to them, prices for the basic assortment decreased by the end of the year,

The increase in prices for TVs was recorded by several market participants surveyed by RBC.

According to Egor Panin, HEAD of the Citilink TV and audio equipment procurement group, the average price of a TV set increased by 13% last year. He noted that in the segment of basic models (with a 32-inch screen) a high volatility was observed during the year: prices fell by half from the peak value. In the premium segment, the cost increased due to the reduction in marketing activities of large brands against the backdrop of leaving the market, Panin said. According to Marvel Distribution, the average price of TVs in 2022 was 29.3 thousand rubles, which is 8.2% more than in 2021. According to the Russian Association of Trading Companies and Producers of Electrical Household and Computer Equipment (RATEK, among its members are Sony, HUAWEI, Intel, etc.), the average price of TVs could increase by 10%, but for some products it returned to the indicators of the beginning of the year, RATEK spokesman Anton Guskov said. He attributed this to the redistribution of manufacturers' shares: an increase in sales from less popular and previously known brands., as well as STM (own trademarks). The increase occurred only in the expensive segment, but in general, prices in the market decreased year on year, says Kirill Kosciuszko, brand DIRECTOR of Merlion's private label division. “The situation is dictated by the shortage of goods in the A-brand sector against the backdrop of existing realities... Prices for brands that do not change anything in their product policy have changed by 0–5% over the year. The price increase in the first half of 2022 was completely offset by the price decrease in the second,” he said. For a number of TV brands, the price has increased due to the expansion of the matrix in a more expensive segment, that is, an increase in representation in large diagonals and the segment of high-tech displays.

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M.Video-Eldorado reported that the prices for the main assortment are at the level of the beginning of 2022. The average check in 2022 turned out to be comparable to the previous year and is at a level of just under 30 thousand rubles, the representative of the retailer noted. Tatyana Skokova, distribution director of Merlion's Broad Distribution Division, said that in the second half of last year, prices for TVs, on the contrary, decreased by 15–20%, “due to the high exchange rate of the ruble, the absence of Korean brands on the market, as well as a decrease component prices in Asia.

What happened to the TV market

After the start of a special military operation in Ukraine, a number of foreign manufacturers temporarily stopped deliveries of equipment to RUSSIA or announced a complete withdrawal from the market. In response, the Ministry of Industry and Trade published a list of goods allowed to be imported into the country under the parallel import scheme, that is, without the permission of the copyright holder. It included such foreign manufacturers as Sony, Samsung, LG, Philips, etc. Nevertheless, Marvel Distribution experts recorded a “serious” decline in sales of the former market leaders Samsung, LG and their replacement by such brands as Mi, Haier, Hisense and others. Thus, Samsung's share in the total number of TVs sold fell from 25% in 2021 to 10% in 2022, LG - from 17 to 11%. At the same time, the last weeks of the year, the shares of Samsung and LG were only 4-6% in units, a representative of Marvel Distribution said.

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According to Panin from Citilink, about 7 million TV sets were sold on the Russian market. For this retailer, TV sales in monetary terms were in line with last year. However, the dynamics in units of the second half of last year is more “positive” than the first, Panin noted. “During this period, there was a decrease in prices for TVs, and demand for budget models increased,” he explained. Citilink noticed that the general trends in preferred TV characteristics among Russians remained the same: an increase in the size of the diagonals and the dominant share of models with a Smart function (the ability to view content from applications or streaming services). At the same time, according to Panin, there was an increased demand for models with QLED technology (a TV operating on quantum dot technology,

According to M.Video-Eldorado, in 2022, Russians purchased a little more than 6 million TVs, three-quarters of which were with Smart TV support. Every tenth TV was with voice assistants and content platforms (applications for watching videos, entertainment, games, etc.) from the Russian Yandex or Sberbank, the company said. Demand for 4K TVs (Ultra HD, corresponds to a display resolution of 4096x2160 pixels) and a diagonal of more than 55 inches has also grown due to the increase in the amount of content and the popularity of gaming. But more than 60% of the TVs sold were 30 to 45-inch models, a spokesman for the retailer said.

What trends should be expected in 2023

Experts interviewed by RBC disagreed on how prices will change in the first half of 2023.

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According to Marvel Distribution's forecast, the average price of TVs will increase by about 10% in the first half of the year, as foreign brands Samsung and LG will rise in price due to logistical problems. The company also suggested that in 2023 the audience will be divided into those who make a choice in favor of affordable brands and brands supplied through parallel imports. Skokova from Merlion noted that the company is already seeing an increase in prices for equipment due to the depreciation of the ruble.

Merlion's Kosciuszko believes that in 2023 "there is no reason for price spikes as of today." He noted that the situation in the financial and logistical part is already stabilizing, stocks of components have been adjusted, and amendments have been made for “deeper planning”. He also noted that for Chinese manufacturers, the Russian market "becomes more attractive every year", and they will not let prices rise. “But it is necessary to take into account the adjustments to the exchange rate, to which all players in the TV market are very sensitive. If there are no surprises, then it is not worth expecting a rise in prices, ”summed up an expert from Merlion.

Waiting for new

In January, new TV models were shown at the annual international consumer electronics show (CES 2023). In particular, Samsung introduced a "smart" MicroLED display, and LG announced the release of a new generation of OLED TVs with Brightness Booster Max technology.

According to Anton Guskov, new devices presented at CES may appear in Russia under a parallel import scheme or if vendors themselves increase direct deliveries. “In Russia, there is always a demand for technological innovations and devices in the expensive segment. It is clear that this is a small part of consumers, but I think that among them there will certainly be those who are already waiting for supplies, ”Guskov argues. However, Skokova believes that the novelties presented at CES will have "little impact" on the Russian market. “There is a large deficit in the high-price TV segment on the market, which makes it difficult to conduct an adequate analysis of this category,” she said.