The festive season brings numerous business opportunities for brands as well as channel partners. The market becomes crowded and all the brands launch lucrative deals on their product range. The spending during festive season increases many folds which creates an opportunity for the brands to meet customers’ demand and boost sales graph.
While expressing pleasure with DT over good market sentiments during festive season, Vijay Sharma, Country Head-India, Optoma Corporation said, “We began the year on a good note and we are expecting good sales momentum to continue during the ongoing festive season and Diwali. This is the first big festival after COVID when people can freely roam around, enjoying it without any strict restrictions. Therefore, I can see the positive market sentiments as customers are all set to spend on desired items. As per a recent market report, spending on Diwali could reach up to $32 billion this year with one in every three Indian households planning to spend an estimated ₹10,000 this festive season. With increasing footfalls in stores, markets are set to jump by 20%.”
Vijay further added, “Similarly, we expect the demand for home theatre projectors to go up as it has grown multiple times since 2021. In the last quarter, Optoma has seen demand growing by 2 to 3 percent for the home cinema category and now during the festive season we hope that sales will double in the home entertainment segment. To meet the rising demand in the B2C category we have already launched affordable quality products like D2, UHD55 and UHZ50 and we are well stocked and ready to fulfil the festive demand.”
Marketing & Channel Promotion Plans
Briefing about their marketing plans, Vijay said, “Optoma’s focus is in sustaining the momentum by doing more of what has worked well over the past 2 years for our channel and brand. Our ‘Go to market strategy defines our integrated value proposition of keeping the profitability and hygiene in market. Our vertical domain-based approach which has brought more focus from channel and team members alike into their specific products has helped to clinch No.1 position in Indian market for 4K UHD, laser and Laser TV projector segments. This line of approach has consistently worked in our favour and we shall continue to implement it to narrate a richer and broader brand story that resonates with our customers.”
“The Significant transition which the brand has achieved by following this strategy turned the company from lower end projector driven business to high end and PRO Scene projector market. Which resulted in better profitability for the brand,” added by Vijay.
Build Customer Connect
Channel partners contribute on a larger level to the growth of a brand and the partners put all their efforts to drive optimum sales. While sharing the business growth tips for partners, Vijay said, “I would suggest them to create a compelling offer for the customers. Amidst this cut throat competition channel partners need to build up a personal relationship with the customers to understand their needs and offer products accordingly. They should provide a convenient shopping experience to the customers. Partners need to describe the brand, connect with them and offer apt solutions. During this festive season, I would suggest to go an extra mile, utilize resources to connect with the customers for better sales.”