ECONOMY

World Cup helps boost TV retailers’ sales

Sales of televisions have risen by about 20 percent since mid-May on higher demand stemming from local sports fans wanting to watch the World Cup on a larger screen but discounts took a hefty toll on profit levels, according to industry data. Figures from retailers show that consumers buying televisions with 32-inch screens or larger benefited from prices cuts of between 20 and 30 percent. This in turn resulted in a drop in profits of 25 percent for retailers. ‘Consumers don’t bother getting up off their couch to come into an electronics store retailer unless the discount being offered is over 20 percent. This compares with the not-too-distant past where a 5 percent discount was enough to draw customer interest,’ said a senior official at a leading retailer.