Indian mobile phone consumers prefer good deals with attractive financing currently offered by e-commerce players while buying phones, according to a study by the International Data Corporation (IDC). The Consumer PULSE survey by IDC, notes that one out of three consumers consider the availability of good deals and experiencing the latest feature as prime reasons for buying a new smartphone.“This can be attributed to multiple sales events backed by high decibel marketing, especially by eTailers with attractive financing schemes, helping drive affordability,” stated the study.
With the wider availability of financing, around half the consumers who spent between Rs 10,000-20,000 on their previous smartphones upgraded to the Rs 30,000 and above segment. Online reviews also emerged as one of the key sources of research for customers before making the final purchase in the premium segment category.
However, according to IDC, word of mouth continues to be the most prominent source influencing consumer buying behavior for smartphones. This has been a key factor for the success of brands like Xiaomi and OnePlus with their unique go-to-market approach and spreading word of mouth publicity, augmented by a dedicated fan-based community. Brand trust is the highest influencing factor for two-third of Xiaomi consumers, followed by its value for money and availability of the latest specifications.
Festive season sales by leading players like Flipkart and Amazon also attract many customers with offers. The survey finds that in general, consumers who visit online stores consider Flipkart as their first choice, but premium smartphone buyers (who chose phones in the price range Rs 30,000 and above) prefer Amazon.
“In terms of specifications, consumers have many choices especially from China-based vendors at affordable prices. Currently, RAM and processing speed are the most preferred specifications followed by a bigger battery size and superior camera quality. Additionally, features like face unlock and waterproofing are yet to gain importance amongst consumers,” said Sachin Mehta , Market Analyst, IDC India.
EMI a top payment choice for mobiles
Survey shows EMI as a choice of payment has become more popular for smartphone buyers, closely followed by debit or credit cards to avail cashback offers.