While Mobile phone has
become a basic necessity, some of the accessories such as chargers, earphones and
covers have become essential for a large population. Technology based
accessories such as Bluetooth headsets, fitness bands, smart watches, blue
tooth selfie sticks, lens, power banks, cables, OTG sticks and VR headsets have
increased at 50% YOY, making mobile accessories a Rs. 20,000 crore market in
India. As India is expected to surpass US and China in mobile phone market size
of the world by 2017, the accessories market is estimated to grow 20-30%
year-on-year.
There are three
different types of retailers for mobile accessories in India – online, offline
and selling on online market places. LatestOne.com has
focused exclusively on the online strategy and emerged as the No.1 retailer of
mobile accessories in India in a short span of 2 years with a gross revenue of
80 crores and net revenue of 50 crores in 2016.
LatestOne.com also
launched a wholesale site for b2b in September 2016. Within 3 months, over
1,500 dealers & retailers have registered and over a 100 have been
activated by placing online orders.
Ameen Khwaja, the
Founder and CEO of LatestOne.com said, “Rapid surge in mobile phone adoption in both urban
and rural areas associated with rising inclination of customers towards latest
mobile accessories is the key driving factor for the growth of this segment.
LatestOne.com has launched 13 new products in the last 12 months in order to
continuously meet these demands of online customers.”
In the calendar year
2017, mobile covers will continue to be the single largest product. Covers like
printed and shock proof back covers will be in demand. Smart watches will come
embedded with new features and less prices.
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