Flipkart looks to curate product range for ‘Smart Homes’ – Economic Times
“We expect 1 in every 20 mobile phone buyers to purchase wearables automation products by 2017,” Adarsh Menon, vice-president of Electronics at Flipkart told ET. Menon added that while 6-7 months back the wearables category was looking very exciting, off late the products under the smart living head are finding a greater traction. “Since these kind of products offer comfort, luxury and security at the click of a button, more and more shoppers are browsing and researching about these products,” said Menon.
Some of the products under smart living include smart bulbs, products for home security, controlled lighting, automated curtains, entertainment systems, air purifiers etc. Smart bulbs and smart monitoring Wifi cameras are the top performing products under the smart home category. According to Flipkart, the company has witnessed three times growth in demand for smart bulbs, which retail at around Rs 1,800. The company is now planning to curate a product range which is expected to drive down the price of such products.
According to research by MarketsandMarkets, the smart appliances market is estimated to reach $37.2 Billion by 2020, a growth of 15.4 per cent between 2015 and 2020 while IDC predicts that by 2020, IoT will consist of 212 billion things, including 30 billion smart autonomous devices, dwarfing the conventional internet.
“So far we are seeing the wearable category show two times growth on a quarter-on-quarter basis, it is expected to grow by three times going forward,” said Menon. He added that looking at the global trends, robotics and automation are the expected to be the next frontiers for growth. “We are expecting sales in both business to business as well as business to consumers category,” he added.
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