59% LiveMint readers looking to buy 4-wheeler this festive season, says latest report
₹30,000 on their smartphone 2 or 3 years ago are now looking at around ₹50,000 as a price point for their new phone—or even doubling or tripling their budget, notes Faisal Kawoosa, founder and chief analyst, Techarc. He further adds, "Of late, thanks to multiple Android brands, a mid-premium segment has emerged that is priced at around ₹30,000-40,000. For these customers, the mind map is that the next upgrade has to scale up in price to ₹50,000 and above.
That is what is making us see growth in the price segments of above ₹50,000 for smartphones in India. Festive seasons are also ideal, since Indians look to optimise every spend they make—unlike many other countries. This period will bring in the best of offers, which is why this demand builds up as people wait to upgrade.
Nearly 70-75% people who upgrade their previous phones definitely look at the festive season to upgrade their phones, which is what becomes the main demand driver as well." As for consumer preferences, 40% of readers across Hindustan Times print & digital platforms, and LiveHindustan, are aiming to purchase a smartphone during the festive season, many of them setting budgets exceeding Rs. 50,000. This trend is closely followed by a robust desire to upgrade personal gadgets such as laptops and smartwatches.
Additionally, there is a growing interest in enhancing home environments with smart home devices, including televisions, audio accessories, and perennially popular gaming consoles. Luxury also finds its place in the hearts of Indian consumers, with 50% of LiveMint visitors and more than 40% of Hindustan Times print & digital visitors being the proud owners of luxury products, such as perfumes, watches, bags, apparel, and electronics. Furthermore,
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