The Reason Behind the Growth
Talking about the reasons behind this shift to premium smartphones, Sardana said that customers of approximately 50-60 million smartphones in the price band of Rs 5,000-10,000 bought in the past 3-4 years now want a better experience. He said that the customers now want more from their smartphones such as OTT content streaming, games and more which makes them go for a better performing device and hence the growth in the sales of premium devices over Rs 20,000. Talking about the reason behind the shift in the customer’s mindset to buy from online platforms, a report from Counterpoint says that Covid-19 hit-offline retail stores, special offers, a wide variety of choices and pricing are the major reasons. The report also stated that the reverse migration of knowledge workers from big cities to smaller cities played a key role in popularising online channels.
