In the light of Brexit many people are putting off buying big ticket items. Things like holidays, new homes and yes even TV’s are suddenly off peoples to buy list, at least for now. While this is only natural in wake of big change, is waiting the right tactic when looking at TV’s? Well let’s take a look. With the crash in the pound, sales down on almost all sectors and general uncertainty from the Brexit fall out, companies are having to take a long hard look at how they do business in (and with) the UK. I am sure many of you have seen similar news on the BBC, they even recently published an article on this very topic “consumer shock over Brexit” which I recommend giving a read. TV’s and a lot of tech industries rely heavily on the Euro, meaning some big changes are coming and not all of them good. The price of imports is going up and as the pound stays weak it is going to be that much harder, it will also mean that the real cost of making these items will go up, as the pound is worth less than it was compared to the other currencies. On top of all this every source is suggesting a drop in sales for TV’s as consumers tighten the purse strings, even the euros didn’t deliver it’s usual spike in TV sales as people were watching Europe for very different reasons.
Prices after Brexit
Now I’m not suggesting that prices are suddenly going to sky rocket, but with all these factors in play there are two things I can almost guarantee:
- Firstly there will be fewer TV’s available as the market hedges it’s bets on slow sales, keeping stock levels lean and production costs down.
- Secondly “special offers” and promotions will happen less often, keeping initial prices higher for longer, this isn’t an increase in price but a reduction in how quickly new TV’s will be discounted, which can often amount to pretty much the same thing.
My advice, if you want a TV and can afford to buy it now, do. I honestly believe it is one of the best times to buy a TV, as stores that already have them in stock didn’t have to deal with the “hike” in production costs when they bought them. If you can, buy 4K. It is as future proof as you can get at the moment and even the most basic 4K model will be guaranteed for 5 years.