Usage of earphones and headphones in India has been increasing at a rapid clip, in tandem with mobile phone and Internet penetration. And that should be music to the ears of importers of the product as production lags demand by a huge margin.The Dollar Business dives deep into the business to understand and analyse the dynamics of this lucrative market.
The one thing that is ubiquitous when you are seated in a flight, riding on a train or taking a walk in the park, are earphones. Look around and you will see that most people, regardless of age (well, the young a little more than the middle aged people) have their earphones on and plugged to their mobile devices. Even the variety that is available boggles the mind. There are wired and wireless earphones – earphones that are available for as low as Rs.50 and acoustic noise cancelling headphones that can set you back a cool Rs.1,00,000 or more. The array of colours that they are available in, covers the entire spectrum of colours with some available in fluorescent colours too. And they are available everywhere. From online stores like Amazon and Flipkart to the snazzy upscale malls and even your friendly neighbourhood mobile store, everyone seems to have a wide range of earphones and headphones in stock.
By the looks of it this seems to be a huge market, and why not? In India, close to 18% of the population comprises of people between 15 and 24 years and 41% of the population is between the ages of 25 and 54 years. Apparently, they all form the target market for earphones and headphones. Well, we are talking about close to a billion customers!
This market of mobile sound accessories, especially headphones and earphones, surely seems humongous and worth a look for any businessman looking for a good opportunity.
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This story is from the June 2017 edition of The Dollar Business.
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This story is from the June 2017 edition of The Dollar Business.
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