55 is the new 32 for TV screens showcasing India’s growing economic prowess
«A lot of people were in denial mode but there is a major market shift. 55 is the new 32 for TVs,» said Avneet Singh Marwah, CEO at Super Plastronics Pvt Ltd, which is a brand licensee of five major global brands — Thomson, Kodak, Blaupunkt, Westinghouse and White-Westinghouse (trademark of Electrolux).
Yet, this potentially implies more than just consumers' increasing preference for viewing thrilling sports or dramatic productions on a bigger screen.
While various indicators, spanning from lipstick sales to first date spending to men's underwear purchases, provide insights into a nation's economic status, we shouldn’t be surprised if a television indicator also exists. This TV indicator would depict images not only of the industry but also of India's economy, where consumers are willing to spend TVs priced as high as 75 lakh rupees.
Marwah said India is undergoing significant transformation and presently stands as one of the world's fastest-growing economies, coupled with its status as a highly traversed nation.
India boasts a remarkable digital landscape, ranking among the top nations in terms of internet usage. This digital interconnectedness has facilitated the exchange of diverse global information, fostering substantial aspirations among its populace, he said.
Furthermore, as individuals make their initial purchases, a fundamental shift is occuring in consumer behavior.
In any nation, once someone transitions from being a first-time buyer, the subsequent purchase inevitably gravitates towards an upgraded or improved version of the product. This phenomenon has already taken root in both semi-rural and urban markets, marking a significant development in our evolving economy.
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