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E-commerce major Amazon says it has achieved double-digit growth in its television sales this year ahead of the upcoming festival season.
“We have grown significantly this year (in the television segment), across price bands and geographies. Our growth overall has been in high double digits,” Ranjit Babu, Director, Wireless and TV, Amazon India, told Business Standard. “This is a category that we are betting big on,” he added.
Amid a burgeoning wave of ‘premiumisation’ across electronic product categories like smartphones, personal computers and now televisions, Babu revealed that Amazon has been witnessing increasing demand for its premium television offerings.
“We are seeing great traction among premium customers,” he said, adding, “We are seeing a significant uptick in customers choosing to upgrade to large screen-sized and higher resolution televisions. Quantum-dot Light Emitting Diode (QLED) and organic light-emitting diode (OLED) televisions are, for instance, seeing increased popularity, growing 100 per cent year-on-year.”
During the company’s recent Prime Day sale event on July 15-16 where it announced the launch of over 45,000 new products on its platform, as many as 30 per cent of televisions sold on Amazon were above 55 inches. “There has been significant growth in the 4K segment as well,” Babu added.
In line with this, Amazon on Wednesday announced a partnership with premium TV brand Vu Television to launch the Vu 98 Masterpiece TV priced at Rs 6,00,000.
“OTT has brought content from all over the world to the home of Indian consumers. With the Vu 98 Masterpiece TV, Vu is bringing the cinema theatre to the home of the Indian consumer,” said Devita Saraf, Founder and Chairperson of Vu.
Babu attributes this wave of premiumization to rising content consumption by consumers on OTT platforms. The super-fast rollout of 5G, he adds, is also showing an impact on television sales and has content consumption on smart TVs.
“Large screen size TVs are also so much easier to purchase now, in part due to the various financing options like low cost and no-cost EMI, instant bank discounts, and exchange offers, among others,” said Babu.
“Over the years, we have also improved the quality of content that we put up on our detail pages in our TV store. We are now able to help customers make an informed purchase decision through our buying guides,” he added.
Besides the growth in its premium device sales, Amazon has also witnessed a 100 per cent year-on-year growth in its mass segment (Rs 32,000-43,000) sales as well.
“We are seeing an increasing trend of customers choosing to buy televisions via e-commerce,” Babu said. “We have not seen any drop in sales overall.”
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