Despite high inflation and the masses’ lower purchasing power, sales of televisions in the domestic market have increased in anticipation of the T20 World Cup in Pakistan.
Cricket fans will be glued to their screens to watch T20 world cup matches, so they are purchasing LED TV sets or LCD monitors to watch the entertaining tournament at their workplace or at home.
Yes, the sale of LED sets has increased in recent weeks. However, the business trend in the domestic market is not very encouraging at the moment due to a staggering increase in prices of various branded and Chinese TV sets, according to Rizwan Irfan, President of Pakistan’s largest wholesale group Karachi Electronic Dealers Association (KEDA).
Seasonal sales of LED TV sets in the domestic market have dropped by 60 to 70 percent. Buyers prefer small to mid-sized screens over larger screens, he adds.
According to market sources, LED TVs from renowned brands start at Rs. 30,000, while Chinese brands start at more than Rs. 20,000. In local markets and company-run dealer shops, the prices of these TVs range from Rs. 25,000 to Rs. 50,000. Rizwan went on to say that the high inflationary trend has dampened seasonal sales in the local market, as prices of various TVs have risen by 30% in just one year. Seasonal sales and prices of LED televisions will show interesting trends based on the performance of the national cricket team. It may continue to rise as the green shirts win games against rival teams, and prices in the local market will follow suit.