New Delhi: As per gfk market and consumer intelligence, overall smart Fone Sales in terms of units for offline retail (point-of-sales) grew by 4%, while online retail sales grew by 29% during YTD October 2021 as compared to 2020. The report said that during the same period, online channel contribution for smartphones stood at 40% of the market share in terms of sales units and 41% in terms of sales value versus 35% in 2020. The data sheds light on the rise in consumer confidence and digital payment methods.
Talking about the price trends, GfK Market Intelligence suggests that Smartphone Premium The category saw a 56% increase in sales. Smartphones priced above Rs 40,000 also grew by 41%, underlining the growing demand for premium products in the Indian smartphone market.
GfK Insight also revealed the geographic penetration of the smartphone market. Overall sales of Tier 5 and above smartphones representing a population of less than 50,000 registered a growth of 11 percent in offline retail during YTD October 2021/2020, followed by Tier 3 cities registering a growth of 7 percent.
Karthik Vasudevan, Sales Director, GFK India, said, “The smartphone market is still dominated by the less than 15k price segment, however, sales of premium products have increased as mobile phones essentially become the first digital touchpoint or device. Internet.”
,