The India’s electronic product industry is one of the largest in the world and is expected to reach a turnover of $400 billion in 2022. Total production of electronics hardware goods in India is estimated to reach $104 billion by 2020, says Sameer Saxena, Director (Marketing)- Legrand (Group) India.
Electronics mfg in India to touch $104 billion
What do you think are the key drivers for the modular switches and electronics products market in India?
Modular switches are a perfect blend of research and innovation and are different from traditional switches in terms of design, appearance, operational efficiency and easy of installations. The requirement of each and every household varies and is unique. The modern switches offer flexibility when it comes to the customising the needs to end users. The key drivers are - rapid growth of the demand in the hospitality industry; need for aesthetics and design which compliments decor. Also aided by the need for switches which are modern, childproof and flame-proof; Changing technologies to offer more comfort and convenience; Increasing concerns towards industrial safety; and products which will last longer and will benefit consumers in the long run.
India’s electronic products industry was $62 billion in 2015, what is its size now? How are the market trends?
India’s electronic product industry is one of the largest in the world and is expected to reach a turnover of $400 billion in 2022. According to an Indian Brand Equity Foundation (IBEF) report, the market is projected to grow at a compound annual growth rate (CAGR) of 29.4 per cent during the period 2015-2020. Total production of electronics hardware goods in India is estimated to reach $104 billion by 2020. Increased penetration in the consumer durable segment and the growing customer base has led to the growth in the sector. Digitisation will further aid this growth.
What percentage of the industry is catered to by the grey market? Any remedies?
The increasing influx of grey market goods pose a serious threat to brand owners. To reduce the grey market, the government has to ensure that strict regulations so that correct products of the registered trademark are sold to the customers. Standardisation of the trademarks and the prices will ensure that the grey market slowly gets eliminated.
Any expansion plans in Telangana?
Telangana is a key geography for us from both B2B and a B2C perspective and we intend to increase our presence through retail visibility in the coming months across the state. Increasing penetration in the retail space is one of the key objectives for us this year.
Tell us something about your new campaign ‘The Good Vibes’.
The Good Vibes by Legrand is sharing an emotional yet relatable story for all its viewers. Legrand supplies the essential fuels of daily life- power and data, thereby enabling uninterrupted living. This belief is just not limited to a market or a product, but to all our daily lives of our customers. We have tried to interweave these two in to a simple narrative and present to our consumers in the form they like it best- digital content.
Video content is at the forefront of digital marketing today. Legrand as a company through this web series would like to take one step further into the digital ecosystem and engage our modern-day consumer into a meaningful dialogue. The younger India is adopting smarter ways of living and creating their spaces- be it in their connected homes or relationships.
At Legrand, we are happy to be part of this modern environment though our products and we thought web series is effective medium to showcase this to the young and technology savvy India.
Why did you choose ‘Millennials’ as the target customer?
Our web series is targeted to the age group of 20-35 years. We chose this audience as they are the one who will be buying our products in the next 4-5 years. The idea was to catch them young by educating them about our products and build brand familiarity with them.
How do you think the campaign will make a difference to the brand and the bottom line of Legrand?
Our earlier campaigns capture the desire of consumers to be connected to their roots even when they step out of their house for new opportunities, job etc. It talks about unadulterated joy, new experiences and familial bonds (#ComeHomeToCelebrations). Similarly, in this web series- The Good Vibes, Legrand is sharing an emotional yet relatable story for all its viewers. The brand has touched a modern subject of relationships, life at work and targets to reach out its customers directly. The overall objective is for the campaign to increase the brand reach and brand image, this in turn could boost the demand for our brand and products across segments.