Awareness and willingness to buy a 5G Smartphone is highest among Millennials aged 21-30: PredictiVu Report
New Delhi: PredictiVu, India’s leading analytics firm, today unveiling their MBO: Smartphone India Overview Part 2, revealed that awareness and willingness to buy a 5G smartphone is highest among millennials aged 21-30 when it comes to 5G interest among consumers and that better gender ratio in sales staff, hyperlocal marketing, social media for CX, and enterprise-wide IT adoption would be critical drivers for offline retail MBOs to succeed in 2021.
5G is going to be a big driver for smartphone consumers and MBOs need to embrace it with better 5G ads and an effective omnichannel marketing strategy to woo more women buyers, high potential market segment, to their offline stores. While the propensity to purchase 5G enabled smartphones are as high as 73%, about 89% of consumers would prefer to step into MBOs that guarantee cleanliness, amicable staff and superior ambience.
The report based on the near real time assessment of datasets of 1208 consumers and 2080 retailers which further is bifurcated on the basis of age and gender, have captured the following key trends in the consumer behavior towards 5G adoption and changes that Offline MBO retailers need to adopt to maximize their growth potential in the pandemic year.
MBO CUSTOMERS AND 5G – PREDICTIVU SURVEY (Sample Size- 1208)
PredictiVu’s Top findings: MBO Customers and 5G
• According to the survey, nearly 1 out of 4 MBO customers are 5G aware.
• 34% of the consumers have high awareness, 30% have awareness, 14% are familiar and 22% have never heard of 5G.
• Alongside awareness, purchase potential is strong, as 73% of smartphone owners surveyed are interested to buy a 5G enabled smartphone in the future.
• 89% consumers are veering towards MBOs that guarantee cleanliness, amicable staff and superior ambience.
• 86% male within millennials reflected the potential to shift to a 5G phone
• 94.3% are buying from local retail store while only 4.7% shopped from MBO chains.
• MBOs have high potential to educate consumers in-store on 5G technology enabled smartphones
MBO RETAILER’S SIDE OF THE STORY (Sample Size- 2080)
PredictiVu’s Top findings: MBO Retailer’s SIDE OF THE STORY
• 37% of the largest MBOs and 97% of the smallest didn’t use in-store tech for admin or marketing purposes
• Extra-large stores employ the most women (36.8%) and the percentage declines with store size. 13.6% of the surveyed MBOs have female staff in their sales department.
• Only 23.6% retailers believe that employing women will help in enhancing their overall sales.
• Hiring more female staff across levels and running effective training programmes critical as gender does not define a skill or dictate the quality of work.
• Under digital usage, more than 24% of retailers uses digital billing for payment.
• Almost 98% retailers did not start other business during lockdown showing more resilience against market odds.
• Better gender ratio in sales staff, hyperlocal Omni-channel marketing, social media for CX, and enterprise-wide IT adoption imperative for offline retail MBOs to succeed in 2021
Introducing the report, Kunal Sarkar, Vice President, PredictiVu, said, “The 5G adoption will be a significant growth driver for the offline retail MBO, given that the pandemic has brought the entire retail industry closer. Raising customer awareness about 5G is imperative now. Offerings and strategies to woo women buyers within millennials to shift purchase focus to offline stores is important. Better partnerships with brands, monitoring online exchange schemes to offer better deals, attractive advertisements using omni-channel and hyperlocal marketing strategy can improve foot traffic to physical locations of the MBOs and capitalize on a huge market. Further, better gender ratio in sales staff, social media usage for CX, and enterprise-wide IT adoption is essential for offline retail MBOs to better sales output in 2021. Am grateful to unveil “MBO: Smartphone India Overview Part 2: Apr-Jun 2021” ahead of the festive season, so that retailers can plan more engaging strategies and better customer in-store footprints and further set appropriate marketing goals to grow in a post-pandemic recovery phase”, he added.
Rajesh Kurup, Strategic Advisory Board, PredictiVu said,” Fast, accurate insights into consumer behaviour and preferences are important facets to competitive success and delivering stellar consumer experiences. This report released at the perfect time will aid offline MBO retailers and marketers to get a comprehensive view and understanding of the key trends influencing consumer behaviour towards 5G and offline store purchase decisions. ”
Speaking on the occasion, Kunal Sarkar, Vice President, PredictiVu said, “Marketers slog to design winning multichannel marketing campaigns due to the lack of real-time and meaningful business intelligence insights. For India, where there’s an insatiable demand for brands and D2C business is going to be worth $100 billion by 2025, the unexplored analytics capabilities that are limiting smarter marketing decisions can become a huge challenge for economic growth. The COVID 19 invasion has redefined the business value of data and accentuated the need for real-time insights more than ever and we are glad to introduce – Dynamic Marketing Optimizer (DMO), our AI-enabled augmented data visualization tool at a time when it’s most needed. Marketing leaders can now use its advanced analytics to understand customer behaviour, competitor performance and consumer challenges 10 times faster than when using conventional methods to arrive at smarter marketing decisions. “
Lloyd Mathias, Angel Investor & Business Strategist and SAB member, PredictiVu said, “Today, marketers increasingly struggle to gain comprehensive, visibility into the customer journey to develop ground-breaking marketing strategies. Going forward, accurate data mapping, analysis and faster delivery from data intelligence partners will be elemental in a world where consumers are excessively connected through the digital universe. PredictiVu’s Dynamic Marketing Optimizer (DMO) is uniquely designed to lead the next level data interpretation need that would require a faster, flexible, reliable, consolidated, and unified business intelligence approach. As Indian brands penetrate further into the local market under the ‘vocal for local’ slogan, the role and need for advanced data analytics business, intelligence offerings will increase.”