Gurugram – In a special report released on the eve of 75th Republic Day being observed on Friday, Jan 26, 2024, Techarc today said that the homegrown Indian brands in the smart electronics products that includes smartphones, wearables and IoT products, the customer acceptance has gone up indicating the improvement in the quality of products made by these brands. The report, basis the average industry customer ratings measuring the satisfaction of customers of these products, finds out that the Indian brands are either meeting the industry benchmarks defined by the weighted average ratings of global counterpart brands or in certain cases exceed the benchmark ratings, which is a reflection of them getting better customer feedback upon usage.
Highlighting the significance of the report, Faisal Kawoosa, Chief Analyst and Founder Techarc said, “It is a very important trend to note that domestic Indian brands which were perceived by the consumers as sub-optimal in performance have started to match the quality and performance of their global counterparts.” “This means consumers are now increasingly seeing value in the products offered by the domestic Indian brands and in times to come our reliance on global brands could go down, while they continue to make in India,” added Faisal.
Key highlights of the report
- Lava emerges as the topmost Indian brand in terms of average ratings across smart electronics categories of smartphones, wearables and IoT devices.
- Qubo, Boult Audio and Noise share the 2nd spot representing IoT and wearables categories.
- A positive correlation could be seen between the average customer ratings and the level of holistic focus of brands in R&D, design, manufacturing and other important value chain elements.
- In smartphones, Lava scores an average rating of 4.2 just close to the industry benchmark of 4.3 as defined by the weighted average of its global counterpart brands.
- The IoT and smart home devices maker Qubo scores 4.1 against the category benchmark of weighted average rating of 4.0. In this category, the domestic brand has scored more than the industry average.
- In the wearables category, where there are several Indian brands, they are seen very close to the category average rating. Against the category average rating of 4.2, the domestic brand ranking ranged between 4.1 and 3.9. Noise and Boult Audio led with a ranking of 4.1 score for customer reviews, while others followed.
Conclusion
The era of India domestic brands 2.0 in smart electronics is here. While these brands are relentlessly putting in their efforts and resources to evolve as fundamentally strong technology companies, the bearing on the acceptance in terms of customers giving higher ratings, almost closer to their global counterparts is a great achievement and reflection of success of their efforts. These brands are also adding to the glory of India by exporting or planning to export to other parts of the world taking India’s technology to global markets.
About the report
The report is based on the analysis of customer ratings given by verified buyers and users of these products who purchased them from popular marketplaces. During this analysis the customer ratings secured by these brands for various products in the categories of smartphones, smart watch, ear buds and IOT were captured. The ratings and the volumes were used to determine the weighted average ratings for domestic Indian brands as well as their global counterpart brands.
In all over 25 brands with 35 different products (SKUs) were analysed during this research. This meant analysis of over 50,000 ratings and reviews secured by these products from verified buyers of popular marketplaces including Amazon and Flipkart. The ratings were captured during December 2023.
To read the full report, click here.
