The ICC Men’s Cricket World Cup 2023 started on October 5 and will continue until November 19. It is after 1987 that the Cricket World Cup tournament has coincided with the festive season in India.
Every year, during the winter festive season and sporting events, sales of electronic products and other consumer devices rise.
According to industry experts, the appliance and consumer electronics industry is estimated to surpass Rs 70,000 crore in sales this year, with the festive season contributing to approximately 25-27% of these sales.
In a country like India, where people are crazy about cricket, the tournament increases the sales of consumer electronics. Based on Broadcast Audience Research Council (BARC) reports, 700 million viewers in India watch sports on smart TVs, with cricket being the frontrunner among various sports. Therefore, TV manufacturers are ready with new models, fresh advertisements and innovative promotions.
According to MediaSmart’s 2022 CTV study, 83% of viewers watch programmes online on smart TVs, while 84% of households prefer CTV (connected TV) with multiple people watching together at home.
The popularity of smart TVs is growing in India as more people upgrade their TVs to access OTT content and larger screens. Due to the regular launch of new TV models by multiple companies, the smart TV market in India is constantly growing. Super Plastronics Pvt Ltd (SPPL), which manages international TV brands, including Blaupunkt, Thomson, Kodak, and White-Westinghouse, for the Indian market, expects the TV market to grow, despite a decline in the first half of the year. SPPL CEO Avneet Singh Marwah said, “The TV industry needs a boost as the first half of the year has remained flat due to various reasons. However, with the festive season and the World Cup approaching simultaneously, buying sentiments are expected to change significantly. We anticipate a spike of more than 35-40% in large screen sizes, especially as they will be telecast in both Full HD (FHD) and 4K formats.”
According to the Counterpoint Research Report, the festive season could lead to a rise in smart TV shipments in the second half of 2023. In addition, there is a clear trend in the TV industry towards premiumisation, with an increasing 18% year-over-year increase in demand for larger smart TVs of 55 inches and beyond. The Counterpoint Research survey said, “QLED TV shipments increased more than 21 percent YoY in H1 2023 and their contribution in the overall smart TV sales is expected to rise further”.
SPPL’s Kodak is the first Indian TV brand to officially partner with Google for Android, to bring an Indian-manufactured and affordable smart TV Range with Android 10. Mobile companies, too, are entering the TV manufacturing sector. Marwah said, “Two major smartphone players are entering the TV business in India. Thomson customers can look forward to exciting product launches and unprecedented deals as we celebrate our 130th anniversary. Additionally, two major smartphone players are entering the TV business in India. However, customers may hesitate to purchase their TVs due to potential service issues. Thomson aims to capture a significant market share during this festive season and become the number one online brand.”
Meanwhile, India’s second-most TV-selling brand, Samsung, released a wide variety of TVs for the cricket and festive seasons in India. Samsung is offering a variety of TVs, including Neo QLED, OLED, Crystal 4K iSmart, Frame, and more. Mohandeep Singh, Senior Vice-President, Visual Display Business, Samsung India, said, “Festive sales have got off to a great start, with consumer sentiment reaching an all-time high in October. Traditionally, we see strong demand for televisions during the festive season, but this time the Cricket World Cup has added to the excitement. Our large screen models — 55-inch and above – are flying off the shelves as consumers look to get closer to action with a stadium-like experience from the comfort of their homes. Sales of our premium television line-up – comprising the Neo QLED, QLED and OLED models – are up 2.7x from the year ago period.”
Consumers are now more online-centric than old offline shopping modes as online retailers provide numerous exciting discounts and offers. Similarly, on October 8, the Amazon Great Indian Festival 2023 Sale began. The online retailer also made offers on smart TVs from top manufacturers including Samsung, OnePlus, Sony, LG, Xiaomi, and Kodak listed with discounts of up to 60%. Saurabh Srivastava, Head of Amazon India, said, “Looking at the Cricket World Cup, we are majorly focusing on TV and sound systems. We have special deals for every consumer on TV products. We have smart TVs with a starting price range of Rs 5,999, the most affordable latest TV set”.
Showcasing the Alexa and Fire TV, he said, “Enjoying the World Cup on the big screen can be even more fun with Alexa. Fire TV and Alexa can be the ideal companion during the tournament. The voice assistant can help fire up the TV for a big match and enhance the viewing experience on Fire TV with the Alexa Voice Remote. With smart home essentials, Alexa can help you set the right ambiance, set up the mood lighting, and more. With Alexa, dive in for an exciting experience and make the most of the World Cup matches. From catching up on live TV to real-time updates, Alexa can be your go-to companion during the World Cup 2023. This World Cup season, Alexa can be the best companion for you to make the most of the cricket matches. From trivia to live updates, you can do so much more with Alexa.”
According to the recent India Consumer Sentiment Index (CSI) study by Axis My India, 47% of consumers will choose traditional television, DTH, or cable services to watch the 2023 ODI World Cup. The survey report stated, “Notably, 47% of respondents expressed their intention to tune in via traditional television, utilizing DTH or cable services. Demonstrating the increasing influence of digital trends, 27% indicated their inclination to follow the event on their mobile devices. A notable 9% exhibited enthusiasm to experience the tournament live by planning to attend matches at the stadium.”