Rapid economic growth has revolutionised the Indian electronic industry. Among the range of electronic products, television remains the most popular product with consumers.
In the past, the Indian TV industry has witnessed a rapid shift in trend from the standard Cathode Ray Tube (CRT) technology to the Liquid Crystal Display (LCD) technology. Over the last two years the price of liquid crystal display technology has dropped by 30 per cent. Such reduced prices have contributed to the increased sales of LCD televisions across India.
While LCD TVs have become more affordable over the past couple of years, this has also led to the growth and increased sales in smaller towns. Naresh Gupta of Cheil Worlwide points out a typical consumer behaviour here, "In any small town of India the packaging in which the LCD came is left for display in the balcony for a few days before it is disposed off to the raddi wala. This is done to tell your story of pride of acquiring your first luxury product. The credit here though is entirely to the marketers who rode the better content wave and transformed the replacement market," he says.