The world of mobile accessories and gadgets taken by storm with the successful completion of the 2nd edition of the Mag World Expo. With over 50 exhibitors showcasing their latest products and technologies, this event brought together the manufacturers, suppliers and distributors under one roof.
Following the surge in sales of smartphones, the global mobile phone accessories market is expected to reach USD 413.22 billion by 2030 at a CAGR of 4.3% between 2023-2030. Besides rapid urbanisation, increased per-capita income boosts demands for fashionable mobile accessories. In Mag World Expo 2023, we interacted with many brands to discuss innovation, portfolio expansion and transformation.
Sailing through the uncertainties amidst the rise of gen-z consumers, Akhilesh Chopra, Director, Bluei, is set to revolutionise the market by blending innovation and sustainability. During our visit at Expo, we spoke with Mr. Akhilesh to discuss his plans, roadmap and how he is strategising to tackle competition and ever-evolving consumer demands.
1. Please tell us a little about Bluei, how it started, and where it is today.
The journey started in 2009 when the smartphone accessories manufacturing industry was struggling to adjust with the pace of innovation, universal standards and the security & privacy concerns. We started as a core manufacturing company of lifestyle gadgets and branded accessories from Karol Bagh, New Delhi and currently, we have a network of 2000+ distributors, 500+ stockers and 10,000+ dealers across the country.
In today’s highly competitive landscape, Bluei’s mission is to create experiences not just products. Putting customers above all, we are committed to harmonising innovation & sustainability through a technically-strong product range. Over the years, our network has become stronger fueled by loyal customers, distributors and dealers.
2. In the last decade, what were the biggest challenges you faced?
With a population of 1.38 billion, the Indian market poses distinctive challenges with consumers that are tough to figure out and win over. Indian consumers need everything at slashed prices, which should be in considerable size and even after that they need discounts. Over the course, I realised that the culture of stocking up does not work with Indian consumers coming up with different demands, tastes and expectations in mind. As the audience and the market pace changes, reshuffling of products, design and marketing strategies is the biggest challenge in itself.
At Bluei, we have evolved our products at every stage to align with current demands and adhere to ever-changing policies & norms.Â
3. How did you leverage your learnings to overcome these challenges?
Whether figuring out the next marketing strategy, pricing of products or what’s trending in the market, effective data collection and analysis helped us a lot in decision-making. We have been using predictive analytics to strategise production and distribution based on consumer demands. Additionally, maximised outputs from data have simplified operations and improved efficiency across the manufacturing plants.
4. How are you gearing up to serve Gen-z audiences having different tastes and demands?
The new generation of consumers has thoroughly transformed the smartphone accessories industry. Gen Z consumers prioritise high-quality and sustainable products over low-priced options. Also, the days are gone when people used to boast about expensive watches, shoes and clothes, lifestyles, gadgets and accessories have become a new style and status symbol. As new-age consumers are well-educated and have access to information, we have fueled our production with best-in-industry R&D and innovation. For a rapid generation, we have a range of rapid fast chargers, stylish TWS earbuds, neckbands and a lot more.
Keeping affordability and innovation in line, we are revolutionising the smartphone accessories industry to make it accessible to all. However, I believe that a lot has to be done by the government to boost the domestic production of lifestyle gadgets & accessories.