June 23, 2022
An electronics retailer mentioned that the volume growth for their products is at 4-5%, while value growth is 25%
The share of vehicles costing above INR 1 million has increased to 37% now, from 16% in 2018
A prominent Indian car manufacturer said that the job market’s reopening had driven higher demand for premium cars
The increase in sales of gadgets is also driving higher value growth for marketers in categories like smartphones and consumer electronics
Sales of high-end smartphones, gadgets, and vehicles are increasing in India due to the demand for talent and rising income offers in the white-collar job market.
According to brands and retailers, working professionals who are switching jobs or are getting retained by their existing employers at higher pay, are upgrading their gadgets and cars.
An electronics retailer mentioned that the volume growth for their products is 4-5%, while value growth is 25%.
On the other hand, a prominent Indian car manufacturer said that the job market’s reopening had driven higher demand for premium cars. In the auto industry, the share of vehicles costing above INR one million has increased to 37% this year, from 16% in 2018.
Furthermore, increased sales of gadgets are also driving higher value growth for marketers in categories like smartphones and consumer electronics. According to experts, young professionals are driving a sizable premiumisation in urban markets by becoming key influencers in buying decisions, thereby increasing the sales of technologically advanced products.
