Indian consumers are popular for being very price sensitive. The purchases made in the Indian market are mostly based on the best value for money offered by the brand and not on just the brand value, unlike many other markets. There are various reasons behind such a trend. One of the major reasons is the close analysis of the quality of the products offered by different brands and their pricing. It has been observed that the quality of the consumer electronics within a certain category is often quite close and features are also very similar to each other. However, despite being so close, the pricing is often quite different and the reason is the brand value. The more popular a brand is, the higher the price. For example, two TVs from Sony and TCL in the 43-inch category will most probably have numerous similar features including the picture quality. However, the final market price that the customer has to pay will be much lower for TCL TV as compared to the premium and high brand value TCL TV. This is the reason that a lot of new-age customers are turning towards the new brands in the Indian market.
Talking of new brands in the Indian market and as I compared Sony with TCL above, it should be noted that TCL is comparatively new in India. Having said that, it is not very new as compared to other new brands including the Chinese brands. TCL has a history of over 13 years in the country but the journey hasn’t been very smooth. After numerous attempts to penetrate the Indian mass TV market, the Chinese electronics major TCL finally reached a stage where it has a firm grip on the Indian market since the past couple of years.
The factors adding up to the stability of TCL in India
The rise in the technological prowess of TCL is phenomenal. The brand is competing with the likes of Sony, Samsung and LG in terms of display technologies, smart features and durability. The pricing is the USP of the brand. Before entering the TV business, itself, TCL was a renowned OEM brand. was TCL had been a veteran in terms of display panel manufacturing for other brands. The panels then were used by the brands and after adding their own components and banding, the final price of the TVs became high. TCL’s aim was to bring down this cost and offer a better product under its own brand name.
TCL has been in the TV manufacturing business for over a decade now and it has shown significant growth in the technology. Moreover, it has now understood the proper method to capture the Indian market and this has shown in their yearly growth in India. The physical retailers that deal with home appliances and TVs especially are very happy with the consumers’ response to TCL TVs. This is the reason that many big retailers showcase TCL TVs in the initial columns in their showrooms and also promote the brand within their store’s capacity.
Mr. Sahil is a resident of Pune, India. Sahil and his family are one of the many proud owners of a TCL Smart TV. Reviewtech had a pleasant opportunity to interview the family and get their views on the TV’s performance. The family had purchased a 55-inch TCL 4K LED smart TV in 2018. The performance of the TV has made the family very happy and satisfied. The best feature of the TV that has helped the brand make a place in the hearts of the family is its competitive price.
According to the users, their research before purchasing the TV led them to numerous showrooms, retailers and brands. However, they found out that the best display quality in their budget along with all the necessary features were only offered by TCL. The aim of TCL is fulfilled this way, as they wanted to offer the best value for money to any consumer. When compared to the other TVs from the competitors in a similar segment, the price of the competitors was almost double. This gave TCL a huge advantage in the Indian market. People went to physically check out the TV sets and look at the quality. Upon physically verifying the quality against the price, the customers were satisfied and also convinced to purchase the TCL TV.
Reviewtech also has the opportunity to interview one of the largest physical retailers in the city of Pune, India. According to the retailers, the TCL TV is giving them a very good business and they are happy to showcase and sell TCL in their stores. The distributors of TCL India are a major pillar of TCL’s business in India. Over the past few years, the cost difference of TVs online and offline have widened. However, TCL has been successful in keeping the online and offline costs almost similar. This encouraged the consumers to go to a physical store and purchase TCL TVs after seeing it with their own eyes. The trust-building is crucial for any company and it seems that TCL’s efforts towards that direction is becoming fruitful.