With consumers restricted to their homes and having limited means of entertainment due to the COVID-19 pandemic, VU Technologies has witnessed a great demand for its high-end televisions. The company registered great festive sales last year and is hoping to have a great Diwali this year too.
"There has been fantastic demand in the Indian market for high-end televisions -- 4k televisions and large-sized televisions -- in the last few years, and this has only gone up because people were at the home and not going out during lockdown, and had very limited entertainment options. With so many OTT platforms making great content, the demand for large-sized and 4k televisions was up. We had a fantastic Diwali last year and expect this Diwali to be equally good for VU," says Devita Saraf, Chairman and CEO, The Vu Group.
As consumers became comfortable with larger-sized TVs in their house, their living room, and bedroom, the demand for the 55-inch and higher categories has been on the rise. This, clubbed with the amount of high-end content that's coming through OTT, YouTube, etc. on televisions, is aspiring consumers to upgrade to better picture quality and latest technologies.
Commenting on the market sentiment Saraf says, "There is a lot of liquidity in the market, because of which people are investing in home stocks, all kinds of lifestyle goods, etc. But as a year it's definitely been a very wait-and-watch year, people don't know when the third wave's coming, they want to be a bit cautious."
Currently, VU Technologies has three ranges in its portfolio -- starting with Masterpiece (85-inch QLED TV) followed by high-end 4k Cinema TV, and the basic 4k Premium TV. The company has added a lot of new features in each of these ranges. For example, it has added a matte glass screen so that it's better for the eyes or artificial intelligence picture boosters.
The company is also witnessing a huge demand for 55-inch televisions. "55-inch has become a category VU is a leader in. In fact, during Flipkart's Big Billion Day sale, VU was the leading brand in the 55-inch and 65-inch categories, ahead of many Chinese brands, ahead of Sony, Samsung, LG. This shows that a high-end young buyer prefers the VU brand," adds Saraf.
While VU televisions are not the cheapest in the market, the company offers direct service and claims to have the best quality product. Due to this, the discerning buyers buy VU TV again and again. More than 90 per cent of customers repeatedly buy a VU TV, says Saraf.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today