India Latest Market Trend - Consumer Market
Though, the monsoon in India may be deficient but it is raining deals and discounts for the Indian consumers. To attract customers, retailers are sending personalized messages via SMS or emails. The Indian retail landscape is evolving from the brick-and-mortar model to adopt technology for connecting with consumers. The aim is to achieve a complete seamless customer experience. It’s a new world for both retailers and the customers where the latter is the king.
Indians spend the substantial amount of their time on social networking websites. As we move from the world of skeptics to early adopters to ultimately the tacticians, online retailing and mobile retailing are the new modes of growth.
Let’s check the latest market trends in consumer electronics in India.
The overall economic situation improved in 2015. Increased incomes and lower fuel prices led to higher disposable incomes for middle-class Indians, which in turn supported a growth of consumer electronics. The poor economic scenario in a previous couple of years resulted in deferred sales of expensive consumer electronics, which added to sales growth in 2015. Although this phenomenon positively impacted most categories within consumer electronics, it was more visible in computer & smartphone category.
The increased demand from urban India, however, which primarily depends on manufacturing and service industries, made up for lower sales in rural areas. Increased sales through the internet retailing also supported growth of consumer electronics, especially in urban India.
The Make-In-India campaign announced for manufacturers by the Prime Minister of India in 2014 and 2015 will start showing results from 2016 onwards. International companies and investors are positive about the policies that will increase domestic production in India. Local production in the country will help companies to reach consumers faster and at a lesser cost.
Leading e-commerce companies such as Flipkart Online Services Pvt, Amazon.com and Snapdeal.com offered a range of discounts that attracted price-sensitive consumers. Witnessing the growth of internet retailing, companies also took an interest in selling their products online. Companies which were completely against online sales until 2014 are now launching exclusive models online.
It’s time to keep a watch on this vibrant online shopping space for the next in line PRE-REPUBLIC DAY SALE on all three major e-commerce portals.