As the festive season unfolds, market demand is on the rise, opening up vast opportunities for tech players. The expectations of customers surge during this period, prompting tech players to strive for innovation in their products. Rajeev Singh, Managing Director of BenQ India & South Asia, shared his insights on the festive season and market dynamics. Commenting on the festive season and market scenario, Rajeev said, “The OND (October to December) quarter and festive season constitute a pivotal period in the annual business cycle. Market sentiments during this quarter typically display positive trends, driven by increased consumer spending and a favourable economic outlook. Given that Diwali is in November this year, the coincidence of the festive season with the full extent of the OND quarter will also result in this boom. Further, the festive environment and emphasis on gifting invariably bolster consumer purchasing patterns and demand, making for a positive market environment that is receptive to vigorous seasonal marketing efforts. Compared to prior months, the season also embodies an extensive bump in demand and opportunities that will sustain after the festive period.”
He further added, “Such festival-driven improved market sentiments bode extremely well for consumer tech products such as ours, allowing us to cater to gifting needs as well as the inevitable consumer extravagance during the festive season. Therefore, our overarching expectations for this quarter (OND 23’) encompass revenue growth of 25% YoY, market share expansion, channel optimization and enhanced brand visibility.”
Market Strategy to Enhance Business Growth in Q4
“We, at BenQ, anticipate a considerable boost in our business growth in the fourth quarter. We have accordingly instituted a vigorous product strategy and versatile channel promotion plans to achieve this projection. In particular, our product strategy for projectors includes capitalizing on our recently launched W4000i 4K Home Cinema Projector, which is expected to yield strong sales volumes during the festive season,” he stated. “Simultaneously, we have introduced the V5000i 4K RGB Laser TV Projector as a compelling replacement for big-screen TVs, timing its launch just before the festive season to target consumers seeking entertainment upgrades. To further fuel growth, we plan to introduce new models of portable projectors in the OND '23 season; recently, we launched the GP100 smart portable projector boasting 1000 ANSI lumen brightness and powerful 20W Trevolo speakers for a Cinematic Sound experience.”
“In the monitor category, our bestselling Programming Monitors the GW-QT Series, have exhibited strong performance during online festival sales. Additionally, we anticipate growth driven by our Gaming (EX) and Graphic Designer Monitors (PD) series, aligning with the festive period's demand. With a robust product strategy and multi-pronged channel promotion plans, we thus expect sizeable business growth in Q4,” he concluded.