Online retail sales of premium smartphones increased 29% in January-October: report

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Consumers have increased demand for premium smartphones and increased their confidence in online retail channels, according to GfK, a market and consumer intelligence agency. GfK market intelligence studied the global smartphone sales growth, price segments as well as geographic market penetration from January 2021 to October 2021.

According to GfK’s market information, the category’s overall sales in terms of offline retail (point-of-sale) units increased by 4%, while online retail sales increased by 29%. % in October 2021 compared to 2020. During the same period, online sales channel contribution for the smartphone market accounted for 40% in terms of sales units and 41% in terms of sales value, against 35% in 2020. This reflects growing consumer confidence and the digitization of shopping journeys fueling the contribution of online retailing to overall sales in the smartphone category. Price Trends Looking at price trends, the data GfK Market Intelligence outlets reported a 56% increase in sales units for high-end smartphones ranging from 30,000 to 40,000. Sales of smartphones priced over 40,000 yen also increased by 41%, underscoring the growing demand for premium products in the Indian smartphone market.

Kartik Vasudevan, Sales Manager, GfK India, said: “As markets have shifted from the norm of ‘want’ to that of ‘need’, it is not just about the product / device, but of the consumer’s “lifestyle”. Consumers turned to technology while staying at home, which triggered a structural change in buying behavior. As the home standard continues, consumers are eager to invest in products that promise quality and longevity.

The information from GfK also reveals the geographic penetration of the smartphone market. Global sales of Level 5 and above smartphones with less than 50,000 inhabitants saw volume growth of 11% in offline retailing in October 2021 compared to 2020, followed by a 7% increase in offline retailing. level 3 cities.


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