India Teleshopping Market Competition, Forecast and Opportunities, 2029F: Key Players Expanding Beyond the Traditional Areas of Home Appliances, Jewelry, and Fashion
DUBLIN, Nov. 20, 2023 /PRNewswire/ — The “India Teleshopping Market Competition, Forecast and Opportunities, 2029” report has been added to ResearchAndMarkets.com’s offering.
India Teleshopping Market is witnessing a significant rise, thanks to the increasing shift among consumers to online platforms, rise in television viewership, and a surge in internet penetration.
The India teleshopping market is experiencing significant growth, driven by a focus on customer engagement and product diversification within teleshopping channels.
Teleshopping in India involves the sale of products through television commercials or infomercials, allowing consumers to make purchases from the comfort of their homes. This method offers the advantage of allowing consumers to see products in action before making a purchase, which builds trust and confidence in the products.
Several factors have contributed to the growth of the teleshopping market in India. These include increased internet and television penetration, rising disposable income among the middle-class population, and a growing demand for convenient and time-saving shopping options.
The Indian teleshopping market is dominated by major players like HomeShop18, Naaptol, and Shop CJ, offering a wide range of products, from electronics and clothing to jewelry and home appliances. Smaller niche players also operate in segments such as health and wellness, beauty, and kitchen appliances.
Teleshopping channels typically air for several hours a day, showcasing products that span various categories. They employ marketing tactics like celebrity endorsements, demonstrations, and limited-time offers to encourage viewers to make purchases. This combination of customer engagement and product diversity is driving the growth of the teleshopping market in India.
India Teleshopping Market Drivers
In the recent years, the Indian teleshopping market has grown steadily. The increasing availability of television and internet has led to greater access to teleshopping channels and online stores. Broadcast Audience Research Council (BARC) statistics indicates that India had around 210 million television households in 2021, which is an increase of 6.9% from 197 million in 2018.
Rural India has more TV owners than urban India, even though the number of urban television homes went up by 4% between 2018 and 2020, that is, from 87.8 million to 91 million. However, around 90 million households are still without televisions, which presents a big market opportunity for television manufacturers. Thus, with the rising demand of television, the teleshopping market is expected to rise at an attractive CAGR in India over the next few years.
The convenience of shopping from home attracts consumers toward teleshopping. It saves time and effort, which is especially important for busy urban consumers. Teleshopping companies often offer lucrative deals and discounts to customers as well. All these factors aid the India teleshopping market in registering significant growth.
India Teleshopping Market Trends
With the rapid growth of e-commerce, many teleshopping companies in India are shifting their focus to online platforms. The increasing adoption of smartphones and the growing popularity of online shopping are driving this trend.
Many teleshopping companies have started their e-commerce websites and apps to stay competitive in the market. Teleshopping companies are expanding their product portfolios to include more diverse and innovative products, including personal care, fitness, and home appliances. They are also collaborating with established brands to offer a wider range of products.
To cater to the vast Indian population that speaks various regional languages, teleshopping companies have started to offer products and services in regional languages, including Hindi, Tamil, Telugu, and Bengali. Thus, expansion of product categories is likely to boost the market during the forecast period.
India Teleshopping Market Challenges
The rapid growth of e-commerce in India has created intense competition for teleshopping players. E-commerce companies offer similar products and services, and often at lower prices, which can make it difficult for teleshopping companies to gain a foothold. Indian teleshopping companies face risks related to payment and fraud, particularly when selling products online. They need to have robust security measures in place to protect against these risks.
One of the biggest challenges that teleshopping companies face in India is the lack of trust among consumers. Many people are skeptical about the quality of products being sold through television and are concerned about being cheated or scammed. Moreover, these companies face logistical challenges when delivering products to customers, particularly in rural areas. This can result in delays and other delivery issues, which can affect customer satisfaction.
Market Opportunities
Teleshopping companies in India can expand their product categories beyond the traditional areas of home appliances, jewelry, and fashion items.
They can offer a wider range of products, including health and wellness products, organic foods, and beauty and personal care products. Thus, with the expansion of the teleshopping market in India, there is an opportunity for companies to target niche markets and offer specialized products and services.
As Indian consumers become more discerning, there is a growing demand for high-quality products that offer good value for money. Teleshopping companies can capitalize on this trend by offering a range of quality products that meet customer needs.
Many teleshopping companies in India are now integrating their businesses with e-commerce platforms, allowing them to reach customers online and offer a wider range of products. This integration can also help them to improve their delivery logistics and expand their reach and, thus, creating opportunities for India teleshopping market players.
Market Dynamics
Drivers
Ease and convenienceIncreasing television penetrationFocus on Regional Languages
Market Trends & Developments
Increasing shift to online platformsExpansion of product categoriesGrowing demand for quality productsCollaboration with celebritiesEmergence of Easy Financing and Different Payment Methods
Challenges
Lack of trustCompetition from e-commerce channel
Voice of Customer Analysis
Brand AwarenessPreferred Mode of PaymentChallenges Faced by Customers
Impact of COVID-19 on India Teleshopping Market
Impact Assessment ModelKey Segments ImpactedKey Regions Impacted
Company Profiles: Product & Services, Financials, Geographical Presence, Recent Developments, Key Management Personnel
Naaptol Online Shopping Private LimitedSHOP CJ Network Private LimitedSkyblue Buildwell Ltd. (HomeShop18)TVC Sky Shop LimitedHBN Network Private Limited (Telebrands)DEN Snapdeal TV ShopJML Direct LimitedTeleshop (India) Private LimitedTeleone Consumers Product Private LimitedIndiyaa Distribution Network LLP
Report Scope:
India Teleshopping Market, By Operation Type:
InfomercialsDedicated Channels
India Teleshopping Market, By Category:
Home FurnitureApparel & FootwearConsumer AppliancesJewelleryOthers (Beauty Products etc.))
India Teleshopping Market, By Payment Mode:
Pre-Delivery Online PaymentPost-Delivery Online PaymentCash on Delivery
India Teleshopping Market, By Source of Order:
TelevisionInternet
India Teleshopping Market, By Region:
NorthSouthEastWest
For more information about this report visit https://www.researchandmarkets.com/r/rrkgrl
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