Deep discounts on 4K TVs, special bundles on gaming consoles and heavy promotions for new virtual reality headsets helped all three tech categories perform well over the Black Friday shopping weekend, according to multiple industry sources.
The Consumer Technology Association (CTA) late Nov. 27 reported that TVs ran away with the No. 1 slot for tech purchases for the four-day weekend, followed by tablets, smartphones and gaming consoles.
While specific numbers have yet to be released, retailer Target alone reported more than 3,200 TVs were sold each minute during its first hour of Black Friday sales. The CTA had previously predicted that as many as 4.5 million 4K Ultra High-Def (UHD) TVs would ship this holiday season. Walmart—the nation’s No. 1 retailer—listed TVs as its No. 1 selling product in the electronics category as well.
On Black Friday alone, retailers enjoyed $3.34 billion in online sales—up 21.6% year over year—with Samsung 4K TVs, LG TVs and the Xbox One gaming system enjoying three of the top five grossing spots in the electronics category, Adobe Digital Insights—the research arm of the software company—reported, adding that the PlayStation VR was among the first electronics products that ran out of stock among most retailers.
The TV category as a whole saw sets discounted an average of 22.5%, second only to tablets, Adobe reported.
"Appliances and TVs launched in 2016 were also seeing higher discounts than comparable products last year (4.2% and 5.8%, respectively), as well as video game consoles (3.8%),” the company said in a statement.
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