Breaking all barriers, homegrown Indian brand boAt Lifestyle has been ranked No. 1 in the True Wireless (TWS) earphones category as per the latest report by Counterpoint Research (Q3 CY2020). The brand sailed through the pandemic to break all records and has seen 385% growth as compared to Q2 CY2020 in TWS category.
According to the research firm – Counterpoint Research, boAt captured 18.3% market share (in terms of volume) in the TWS Category (Q3, CY2020), overtaking brands like Xiaomi, Realme, JBL, Apple amongst others to become No 1. Overall, the TWS category has grown by 172% since the earlier quarter, while boAt has grown by 385% during the same period.
Congratulating boAt on the occasion, Shilpi Jain, Analyst, Counterpoint Research said, "Home-grown brand boAt rose to the number one position in India's TWS market in Q3 2020.Aggressive marketing backed with strong product line-up at affordable prices, strong channel partnerships, portfolios across various price tiers and building strong consumer base are some of the strategies that worked in its favour. Its Airdopes 441 model became the second best-selling model in Q3 2020 with its features like water resistance and up to 25 hours battery life coming at an affordable price point".
Rise in 'from Home' culture like 'Work from Home', 'Study at Home' and 'Stadium at Home (with IPL) continues to act as a catalyst this festive season for consumers to buy boAt products that offer great sound experience. The rise in sales this year comes on the back of new customers coming in mainly from Tier 2 cities at the recently concluded Diwali sales by Flipkart and Amazon. boAt has also witnessed a positive shift in demand for the wireless category. Specifically, in the TWS Earphones (Airdopes) range the brand has created a well-rounded portfolio of products with best in class features like Bluetooth 5.0, IPX capabilities, and long battery life. In January 2020, boAt sold around 40% of wired and 60% wireless products. As of November 2020, the sales for wireless have increased to 70% with wired at 30%.
On the recognition Aman Gupta, Co-founder, boAt audio said, "Being an Indian brand boAt understood the requirement of its TG i.e. the millennials who cannot be influenced through traditional marketing strategies but through quality experience. The Counterpoint report is a result of our commitment towards boAtheads to provide them a product that isn't just fashionable and aspirational but affordable.
With an aim to become a global lifestyle brand, this is a step ahead to innovate and expand our portfolio to offer technology solutions that are aligned with the changing consumer desires and consumption patterns."
boAt has been challenging the status quo in a sector dominated by established global brands. It has ramped up quickly in a short span of just over four years, through its core high-quality, smart, efficient, stylish and durable line of audio products.
It has already created a community of over 3 million boAtheads online (consumers) who want to be seen listening and wearing their boAt accessories to make a lifestyle statement. The company has witnessed a 20% surge in demand for its products in COVID times and today sells more than 15,000 units a day as against 8000-10,000 in pre-COVID times.
In 2019 boAt audio was the leading brand with more than 20% market share in the earwear category as per the market data released by leading IT market research and advisory firm International Data Corporation (IDC) in 2019.
