Premiumization Trend In Laptops Takes Center Stage This Festive Season: GfK
The start of the festive season is marked by anticipation of an increase in sales, esp. of high-end and feature-driven IT products, particularly laptops. Since the majority of people continue to work from home, there is a great demand for high-quality, endurable, and technically agile products.
According to GfK Market Intelligence Offline Retail Tracking Data, the premium laptop segment (above 52000 INR) is increasing to 50% of sales in the offline channel from 20% in 2019 (Jan-Aug), owing to both price increases and premiumization. According to past trends, with price drops and promotions throughout the holiday/festive season, mainstream and entry-level laptops (under 52000 INR) may see a rise in sales contribution rather than the premium (over 52000 INR) category.
Anant Jain, Head of Market Intelligence- India, GfK says, “Customers’ preference for high-end goods remains unaffected by price hikes. Products with a variety of features that simplify daily life at home and provide a consistent experience are gaining popularity. The market trend of increasing sales of premium laptops demonstrates this. This premiumization trend is expected to continue this year, with the mass premium segment garnering attention in the 52-72K price range. In 2021, the mass premium segment increased by 80% over the previous year, owing to increased sales of gaming laptops during the festival season, among other factors.”
New Trends Expected
As newer-generation products are introduced, older-generation SKUs will gradually disappear. In terms of specifications, mass premium laptops with 16GB + 512GB SSD will acquire more appeal among urban consumers. With people spending long hours on laptops, having high-quality displays has become even more vital for consumers. Laptops with eye-safe displays and OLED screens are selling well and are likely to grow further in the market.
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