Consumer Electronics Market To Witness Surge In The Growth With Latest TVs And Smartphones
Smartphones and Television’s online sales recorded good growth in 2017. In the case of growth, online sales have once again left offline sales behind. The online industry has benefited from the cheap discounts, cheap 4G phones, and online exclusive models.
According to Hong Kong-based cellphone sales trackers counterpoint research, online sales of smartphones increased by 23% in 2017, while online sales increased by 16% in 2016. Another researcher CMR India has also projected this category to increase by 25% in 2017, compared to 22% in the previous year. According to the Industry Body Consumer Electronics and Appliances Manufacturers Association (CEAMA), online sales of television have increased more than 100% in 2017, compared to 45% increase in online TV sales in the past year.
On the contrary, smartphone sales have increased by 9% compared to the previous year. The overall market has registered an increase of 12% during this period. The TV sales are flat.
Tarun Pathak, associate director of Counterpoint Research, said that the increase in the market has been recorded due to online sales events, promotions, and offers. In 2017, online channel share of total smartphone shipments in India is close to 33%, which is the highest globally.
In CMR, Lord Intelligence Group head Prabhu Ram said, “Xiaomi, OnePlus, Lenovo and Vivo have exclusive partnerships with online channels. Apart from this, most companies have launched high-specimen models at an average price, which has given momentum to the online sales of these devices.”
The country’s largest marketplaces Flipkart, Amazon and Paytm Mall had launched many offers such as a discount, buyback, and cashback to increase sales last year. In this category also got an opportunity to increase sales. Government settlement and good and service tax decisions had a negative effect on consumer sentiment, which had prompted e-commerce companies to offer many offers to the customers. Television and smartphones are the two largest categories for an online marketplace. In the total sales of e-commerce, these two shares are close to 60%.