Driven by falling prices and rising consumer interest in
high-definition (HD) programming, Best Buy reported triple-digit
growth in flat-panel TV sales in December. The excitement over HDTV is
expected to continue into 2006 with customers looking to complete
their home theaters in time for the big game and the upcoming
Hollywood awards season.
According to a commissioned study conducted by Forrester Data on behalf of Best Buy, home theaters have become mainstream in America, with one in three consumers being interested in the concept of a home entertainment system. However, consumers continue to be confused about the elements of home theater and HDTV - what do they need and how does it all work?
"HD has undeniably become the new benchmark in the home entertainment experience and the driving force behind the popularity of the HDTV's," said Mike Vitelli, senior vice president of consumer electronics for Best Buy. "While HD can be confusing, Best Buy's Blue Shirts are prepared to guide customers through the transition, just as they did when the DVD player replaced the VCR or the CD replaced the cassette tape, and help them understand which HDTV and home theater system best fit their lifestyles."
Today's home theater consists of five important components, including: -0- 1. TV - The HDTV is the centerpiece of the home theater and is available in a variety of formats to fit customers' needs - from Liquid-Crystal Display (LCD) or plasma flat panel televisions that can be hung on the wall, to Liquid Crystal on Silicon (LCoS) and Digital Light Processing (DLP) and projection televisions that offer exceptional picture quality at a lower price than flat panel units. Finding the best television for a customer's needs depends on the size and shape of the room, how the home theater will be used, any existing home theater equipment or furniture to incorporate, and budget. -- HDTVs are more affordable than ever; 21 percent of HDTV owners earn less than $25,000 in annual household income.(a) 2. Source - While HDTVs are in 14 percent of American homes, nearly one quarter (23 percent) of HDTV owners do not subscribe to HD programming.(a) Best Buy Blue Shirts can help customers subscribe to HD programming packages through digital satellite or digital cable, or connect via antenna to receive over-the-air HD content to get the most out of their HDTVs. 3. Audio - High Definition programming is broadcast in 5.1 surround sound. With a surround sound speaker system, a consumer is literally in the middle of the High Def action. Unfortunately, approximately 45 percent of HDTV owners do not own a surround sound speaker system which means they are not getting the complete High Def experience.(a) Best Buy offers a wide variety of receivers, speakers, and "home theater in a box" systems to complement any HDTV and bring the true HD experience to life. 4. Connections - Improper connections can spoil a home theater experience. Premium cables and connectors deliver all the sparkle, sizzle and boom of the big screen, and Blue Shirt home theater specialists are always available to help consumers distinguish between DVI, HDMI, RGB and the many other connection options on the market. 5. Installation - A state-of-the-art home theater doesn't have to look like a laboratory. Best Buy's professional installers can wall mount, connect, program and even hide any home theater component for a clean, uncluttered, and, most importantly, an easy-to-use system.
Magnolia Home Theater
In addition to hundreds of brand name home theater products, Best Buy also offers Magnolia Home Theater (MHT) in more than 100 of its stores across the country. These stores-within-stores offer consumers a unique blend of premium home theater brands, comfortable demonstration rooms, in-home consultation and custom design, knowledgeable home theater consultants, and service and installation experts. To locate an MHT store, visit www.magnoliaav.com.
Female Approval Factor
Increased popularity of home theater systems has also had an impact in product design. According to the Consumer Electronics Association (CEA), women influence 88 percent of household consumer electronics purchases and account for roughly 50 percent of the spending. Once bulky and obtrusive, home theater systems are now being designed with the female eye in mind. The sleeker design of flat panels is particularly attractive to women, who traditionally make most of the home decor decisions in the family. Additionally, many of the family-oriented uses of home theater, from family movie or gaming nights to photo viewing gatherings, are also appealing to moms.
About Best Buy Co., Inc.
Best Buy Co., Inc. (NYSE:BBY) is an innovative Fortune 100 growth company that continually strives to create superior customer experiences. Through more than 930 retail stores across the United States and in Canada, our employees connect customers with technology and entertainment products and services that make life easier and more fun. We sell consumer electronics, home-office products, entertainment software, appliances and related services. A Minneapolis-based company, our operations include: Best Buy (BestBuy.com and BestBuy.ca), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca) and Magnolia Audio Video (Magnoliaav.com). We support our communities through employee volunteerism and grants from The Best Buy Children's Foundation.
(a) Forrester's Consumer Technographics Q2 2005 North American Survey
According to a commissioned study conducted by Forrester Data on behalf of Best Buy, home theaters have become mainstream in America, with one in three consumers being interested in the concept of a home entertainment system. However, consumers continue to be confused about the elements of home theater and HDTV - what do they need and how does it all work?
"HD has undeniably become the new benchmark in the home entertainment experience and the driving force behind the popularity of the HDTV's," said Mike Vitelli, senior vice president of consumer electronics for Best Buy. "While HD can be confusing, Best Buy's Blue Shirts are prepared to guide customers through the transition, just as they did when the DVD player replaced the VCR or the CD replaced the cassette tape, and help them understand which HDTV and home theater system best fit their lifestyles."
Today's home theater consists of five important components, including: -0- 1. TV - The HDTV is the centerpiece of the home theater and is available in a variety of formats to fit customers' needs - from Liquid-Crystal Display (LCD) or plasma flat panel televisions that can be hung on the wall, to Liquid Crystal on Silicon (LCoS) and Digital Light Processing (DLP) and projection televisions that offer exceptional picture quality at a lower price than flat panel units. Finding the best television for a customer's needs depends on the size and shape of the room, how the home theater will be used, any existing home theater equipment or furniture to incorporate, and budget. -- HDTVs are more affordable than ever; 21 percent of HDTV owners earn less than $25,000 in annual household income.(a) 2. Source - While HDTVs are in 14 percent of American homes, nearly one quarter (23 percent) of HDTV owners do not subscribe to HD programming.(a) Best Buy Blue Shirts can help customers subscribe to HD programming packages through digital satellite or digital cable, or connect via antenna to receive over-the-air HD content to get the most out of their HDTVs. 3. Audio - High Definition programming is broadcast in 5.1 surround sound. With a surround sound speaker system, a consumer is literally in the middle of the High Def action. Unfortunately, approximately 45 percent of HDTV owners do not own a surround sound speaker system which means they are not getting the complete High Def experience.(a) Best Buy offers a wide variety of receivers, speakers, and "home theater in a box" systems to complement any HDTV and bring the true HD experience to life. 4. Connections - Improper connections can spoil a home theater experience. Premium cables and connectors deliver all the sparkle, sizzle and boom of the big screen, and Blue Shirt home theater specialists are always available to help consumers distinguish between DVI, HDMI, RGB and the many other connection options on the market. 5. Installation - A state-of-the-art home theater doesn't have to look like a laboratory. Best Buy's professional installers can wall mount, connect, program and even hide any home theater component for a clean, uncluttered, and, most importantly, an easy-to-use system.
Magnolia Home Theater
In addition to hundreds of brand name home theater products, Best Buy also offers Magnolia Home Theater (MHT) in more than 100 of its stores across the country. These stores-within-stores offer consumers a unique blend of premium home theater brands, comfortable demonstration rooms, in-home consultation and custom design, knowledgeable home theater consultants, and service and installation experts. To locate an MHT store, visit www.magnoliaav.com.
Female Approval Factor
Increased popularity of home theater systems has also had an impact in product design. According to the Consumer Electronics Association (CEA), women influence 88 percent of household consumer electronics purchases and account for roughly 50 percent of the spending. Once bulky and obtrusive, home theater systems are now being designed with the female eye in mind. The sleeker design of flat panels is particularly attractive to women, who traditionally make most of the home decor decisions in the family. Additionally, many of the family-oriented uses of home theater, from family movie or gaming nights to photo viewing gatherings, are also appealing to moms.
About Best Buy Co., Inc.
Best Buy Co., Inc. (NYSE:BBY) is an innovative Fortune 100 growth company that continually strives to create superior customer experiences. Through more than 930 retail stores across the United States and in Canada, our employees connect customers with technology and entertainment products and services that make life easier and more fun. We sell consumer electronics, home-office products, entertainment software, appliances and related services. A Minneapolis-based company, our operations include: Best Buy (BestBuy.com and BestBuy.ca), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca) and Magnolia Audio Video (Magnoliaav.com). We support our communities through employee volunteerism and grants from The Best Buy Children's Foundation.
(a) Forrester's Consumer Technographics Q2 2005 North American Survey
© 2006 Business Wire
