One of the biggest gifts this holiday season won’t fit under the tree, the chimney or even in some homes.
Televisions that measure 97 inches (and more) diagonally across – a.k.a. XXL TVs – are becoming a huge hit as the cost of giant screens sinks sharply, and viewers look to replace the screens they bought during the peak of the pandemic a few years ago.
Sales of gigantic screens are a bright spot for the TV manufacturing industry, amid stagnant sales for the overall category, according to research firm Circana.
Best Buy is adding XXL TVs to 70% of its 940 stores in the United States in response to demand from its customers, the country’s largest electronics retailer recently announced.
Because of improving technology and cheaper prices of components and manufacturing, prices for 98-inch TVs have fallen 53% compared to a year ago, a Circana spokesperson told CNN. Sales have soared 877% over the past year. By contrast, prices for televisions 75 inches through 96 inches have declined 6% with sales up just 19% this year.
Ultra-large televisions still aren’t cheap: Many of the options range in price between $1,699 to $2,999, and Best Buy is offering free delivery plus installation with purchase.
Still, the growing popularity of XXL TVs could help Best Buy climb out of a series of downbeat quarters. The company and its rivals have been hurt by customers cutting back on discretionary spending because of inflation. Best Buy CEO Corie Barry said in the company’s most recent earnings release that customers are “willing to spend on high price point products when they need to or when there is new compelling technology.”
“We’re seeing growing interest from shoppers in XXL TVs, especially as the technology gets better and more options are available at a variety of prices,” Blake Hampton, senior vice president of merchandising at Best Buy, said in a release.
Target, Costco and Walmart also have similar XXL TVs on sale ahead of the holiday season.
