With a population size growing at a fast pace and posing all kinds of people with different demographics, India surely has evolved as a very matured investment spot among the third world and emerging markets. To substantiate the fact, a few days ago when home grown e- tailer Flipkart announced a fresh round of funding of a billion dollars probably setting the biggest ever benchmark in the Indian e-commerce story, the following day saw announcement from Amazon, the worldÔÇÖs largest e-tailer pumping in two billion dollars re- instating the fact that not only are they the biggest in the world, but how seriously they treat their operations in India.
The area of focus here is on the Smartphone industry that has registered burgeoning growth in the previous decade. From seeing an era of bar phones evolving into full touch, internet from a luxury to a necessity, Android Operating System from a limited edition to the most preferred across all brands of smartphones.
The dynamics of this industry has been quite exceptional. Some of the noteworthy stuff can be summed up as under.
1.┬áBrands, brands and more brands: Gone are the days when a mobile phone purchased had┬á┬á┬á┬á┬á┬á┬á N O K I A written on it. With ÔÇ£nÔÇØ number of brands both global and local fighting for supremacy, there has been one clear winner ÔÇô the consumer. Even though it might get confusing for the consumer to choose, abundance and choice have never been complained of.
2. Internet on phone: The idea of staying connected all the time has gripped each and every person. People no longer have the patience to go back home and then check for a Facebook notification or an Instagram comment. Banking on this idea, all social network websites have moved from the Laptop to Apps on smartphones. Not just social networks, e-mail, Shopping, News everything. Internet Penetration as a result has risen as a person with a 5,000 rupees smartphone needs internet as much as a person with a laptop of 45,000 needs it.
3. Impulsive Consumer Behaviour: There once used to be a time when purchasing a smartphone was as difficult as if a life partner was being chosen point being, a lot of analysis, making of pros and cons list used to take place before a decision was made.
The impulsive consumer of the modern age does not take much time to narrow down a choice of his smartphone. There are over a dozen sleek and sexy brands to choose from, and if you didn’t like it too much┬á go for a replacement in a few month. As common as a relationship and a breakup.
4. Shopping and e-sites: The Mobile Store was probably among the first company of its kind, retailing mobile phones exclusively and then a host of other companies followed. With the paradigm of retail trade now shifting online, the sales are expected to┬áfor long nor have to burn a hole necessarily in their pocket.
5. After Sales Service Stigma Gone: Moto G premiered sales at Flipkart.com and is living proof to substantiate the fact that the Indian consumer was now ready to trust in a brand that had faded out 3 years ago. Consumers did not even think for the after sales support or service centres available for the same and before doing their research on the same, the button ÔÇ£Add to CartÔÇØ was clicked on first. Motorola had a history of its branding roots. Home grown Company, Micromax is all set to put a global footprint apart from being the second largest smartphone maker in India in terms of market share. Consumers today have become more dynamic to trust on the product rather than taking a decision collectively based on its after sales support.
6. Smart Marketing: With the shift of traditional media to Digital Media, Mobile Phone Makers to Networks to Retailers have not wasted one bit of effort to leverage the digital space to their fullest advantage. Social Media campaigns, banner and mast advertisements and so forth have not only converted potential consumers to users but also urged a lot of people to switch brands. Micromax recently had hired the Hollywood actor Hugh Jackman to promote their Canvas series of smartphones.
We have seen pre ÔÇô bookings, regional language supported keyboards, bigger buttons for the elderly. The dynamics of the market, keeping in mind the diversity of profiles in the Indian population has been adopting every strategy from pre ÔÇô bookings to exclusive online sales to branded accessories as a complimentary gift to make its mark in the Indian subcontinent.