“We will establish a strong retail presence at the smallest touch points to be available where the consumers are”
The mobile accessories market has witnessed an immense transformation over the past few years. Earlier, a couple of big brands dominated the market but, now things are quite different in India. The market witnessed an influx of newer brands with more technological prowess and today the consumer is spoilt for choice. In light of this scenario, Nijhum Rudra spoke to Manoj Kumar Pansari, CEO, Astrum Holdings, which is into mobile and computer accessories, about current market scenarios of mobile accessories in India and what are the marketing strategies of the company to meet the requirements of users.
As a first-generation entrepreneur, what do you think are some of the biggest challenges in offering top-notch mobile accessories and devices? How is Astrum, as a company, playing a pivotal role in changing the scenario?
Today, consumers are more experimental in trying out new things and new technologies, rather than betting their allegiance on brands that have existed for years. The other influencing factors being technology innovation and the disorganized and highly fragmented nature of the business itself, monopolized to some extent by small mom and pop stores.
In light of the above-discussed issues that could also be summarized as challenges, Astrum has put all the efforts to break the trade-off between innovation, quality, and cost. Astrum is known to provide robust, reliable – yet affordable high tech devices at the most affordable price points. The key challenge is the price-sensitive nature of the Indian Consumer where quality takes a beating to accommodate more aggressive price points, which is where Astrum has been focusing all its energy in bringing balance between the both. Also, we aim to spoil the consumers with choice; Part of this extensive portfolio is our unparalleled range of over 1000+ unique products across 40 categories. Lastly, we are working on establishing a strong retail presence at the smallest touch points to be available where the consumers are.
Can you please elaborate the business models of Astrum?
Astrum is currently focusing on building a strong channel network. We are a very channel-friendly company and believe in growing with our channel partners. We consider our channel partners as an important part of our ecosystem. From offline to online, Astrum has set a firm foothold in the Indian market. Being one of the competent brands present today, we are currently persistent to reach 10x growth in channel breadth during the 2018-19 fiscal year. To achieve this, we have a multi-pronged approach to make a Win-Win situation for both channel and the brand. Also, we plan on setting up our very own manufacturing unit with a focused R&D Centre, to bring attention on innovation and newest trends.
What are your current marketing strategies to stay ahead of the curve?
Product Launch is not the end of the Journey but actually the beginning. Our work begins then. The consumers need something more; basically, a reason to buy the product and only great quality isn’t going to help. That’s where our pricing strategy helps. As far as marketing is concerned our journey has been a roller-coaster ride. By introducing various schemes along with the launch of our new products, and constantly reworking the schemes on our existing products, combined with various activities and programs to provide the much-required air cover to assist in Sell Out, we devise our strategies with a dedication to our core faith and with our partner interest as the key parameter.
What are the present market scenarios of mobile accessories and consumer electronics in India and also highlight the current trends in the domain?
The forecast for the smartphone and accessories business is bullish, as where there are smartphones, there are the many accessories which go along with it. Hence, our reading for the Mobile Accessories Market in India is that the coming times are very exciting in terms of the business growth and we are gearing up with innovative and user-friendly products to cater to the growing demand of Hi-Tech accessories like fast charging in a fast-paced world. The scope of work for Mobile Accessories is wide; today these gadgets are compatible and adaptable to Laptops, Computers etc, which makes these accessories multifaceted in terms of usage. The Market has consolidated and consumers though are price conscious have also become quality conscious.
Can you please highlight some of your latest technologies and accessories in the market? How do you aspire to offer robust, reliable and affordable products in the market?
He current key trend is largely focused on ‘Wireless’. Everything from your Wearables, Audio etc is defined by the same. Keeping in line with this trend Astrum has continuously been innovating newer products to enhance the wireless experience for our customers. Be it our new wireless charger CW300 which is qi3 certified providing true fast charging to iPhones or be it our range of smart products which improves the quality of life of our customers, we have always been focused on providing cutting edge technologies to optimize the living standards of people.
What are some of your biggest USPs, which you think can beat your rivals in the global market?
Nowadays customer’s focus is on quality. It’s the quality which wins the customer and also brings loyalty. Price is again another key element; we provide superior quality products at an affordable price. Not everyone can provide quality products at pocket-friendly prices; they have to compromise on either one of the factors, which we don’t. Astrum has always been a first mover in bringing new technology products to our users. We are grateful to our competition for keeping us on our toes with the market and the current trends which help us cater to our audience with better service. Hence, such healthy competition is important as it motivates us to keep going, & give the desired results that our customers expect from us.
Moving ahead, do you have anything in store on your roadmap?
We have recently established our presence in the North and South Region and have also made deep in-roads in Tier 2 and Tier 3 cities. The brand that connects to the right consumers at right touch points will enable 360?communication to increase brand penetration. As mentioned earlier we are also setting up our manufacturing facility in India which would help us reduce the Turn Around Time (TAT) between new technologies and the Indian consumer. The facility is also going to cater to our global markets and will abide by our stringent quality standards.