Search is often the first place consumer look for information, regardless of brand, product, or features. It’s a potential gold mine for brands and companies. Sciative meticulously captures and learns the search data and draws fascinating insights about consumers, brands, industries, companies, and culture to strengthen the pricing algorithms. Sciative, a leading deep-tech startup specializing in AI-powered automated price optimization solutions, has released a report on online consumer search behavior for electronic devices in order to assist businesses in making better decisions for inventory planning, pricing and promotion. The report was created after analyzing data of online searches across India for this year (2020-2021). The findings show consumer preferences for electronics devices to make purchase decisions in India for the upcoming festive season.
As per the report by Sciative, Electronics is one the top searched and compared categories on the internet. It has emerged as the leading e-commerce category in recent times, with the highest GMV share of total e-commerce sales. Categories considered for the analysis includes Laptops, Televisions, Refrigerators, Washing machines, Air conditioners, Dishwashers, Mobile accessories, Speakers and Headphones.The report aids in the analysis of buyer behavior in online searches for Delhi, Mumbai, andoverall India’s demographics.
In the Laptop category, over 35% of the people in India directly searched for a specific brand. While HP topped the charts by being the most popular brand in laptops, Lenovo ranked as the second in Mumbai and Delhi, while in the overall Indian market Dell brand comesecond. Along with this, AMD Ryzen processors are becoming more common in searches, and it’s interesting to see that small-screen laptops, particularly 13-inch models, are becoming more popular in the metro cities, while the overall Indian market still searches for the larger +14 inch screen sizes.
In terms of televisions, brand preference is consistent across India, with Samsung, LG, and Sony ranking higher in online searches. In the more price sensitive markets models like MI, BPL and TCL and Realme are also seldomly searched. Model number searches are uncommon, and consumers are more interested in brands and other key features. Surprisingly, Mumbai visitors have higher preference for Smart TV than others, that is, 16% compared to 12% in Delhi. While over 50% of the searches in Delhi happens for 32 inches screen size, only 44% of the Mumbaities searched for it. 32% of the Mumbai population focus their searches on 43 inches or higher while 25% of the Delhi and 27% of the rest of the India population searched for larger screen sizes.
In addition, brand is a top search criterion for refrigerators in online searches, according to the report. Consumers in metros and non-metros have nearly identical preferences for star ratings, with a strong liking for 5 Star and 4 Star refrigerator in online searches.
Online searches for washing machines also are heavily focused on brands, with capacity proving to be an important online search factor. When it came to air conditioners, tonnage was a key factor in consumer decision-making, with most of them focusing on 1T and 1.5T capacities. Portable air conditioners appear to be more popular in Mumbai and non-metros.
In the dishwasher category, there is consistency in brand searches as visitors had a higher preference for Bosch and IFB. In India, 56.9% of consumers look for popular brands when purchasing mobile accessories such as cases, chargers, covers, and adapters. Premium brands like JBL, Bose, and Sony are at the top of search volumes for speakers. Mivi and Noise, two new popular headphones brands, are on the lookout.
Dr. Anshu Jalora, Founder and MD of Sciative, commented on the report’s findings, saying, “Consumers’ online shopping habits for electronic gadgets reveal some fascinating trends in terms of the factors they consider before making a purchase. Brands and retailers can use this information to plan their inventories and marketing strategies.”
Ms. Vijeta Soni, Co-Founder & CEO of Sciative, added to this by saying, “Consumer preferences identified in this report are highly valuable in inventory planning, particularly during the upcoming festive season. Consumers’ considerations in each category can aid brands in determining an effective pricing and discounting strategy during the festive sale period, allowing them to maximize revenue.