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Things in the highly competitive televisions market in India just got a little more heated up after the entry of home-grown TV-maker, NU. This new player already has a decent portfolio of smart TVs to boast off and has also stepped foot in other segments of the home appliance market with interesting new products. We recently spoke to Khushnud Khan, Co-Founder and CEO, NU, to understand the vision behind NU and their plans for the Indian market.
In our market, consumers seek products that prioritise comfort, affordability and options for smoother and efficient functioning of daily chores. TVs, washing machines and ACs have become an indispensable requirement in Indian households. Interestingly, despite the ever-growing demand, the penetration of consumer durables still remains low in the Indian market. With a segment that is spoiled for choice, consumers struggle to find products that address all of their requirements and are well within their budgets. This is where and how we believe Nu’s cutting-edge technology and performance packed appliances will attract attention.
Aspirational consumers across the length and breadth of India are at the center of our product strategies, Nu promises to bring the best of technology driven, premium products and making them affordable for most people. Backed by an exhaustive and well-rounded after-sales support with a high affordability factor, Nu will help us make inroads with our future customers.
With larger Indian consumers at the centre, we are certain that Nu will be able to capture 20% of the market share in the next three years.
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The focus for this year will mainly remain on addressing the needs of our consumers who are looking to upgrade to premium technology. With the successful launch of our brand Nu in the country, we are now focused on using every opportunity for digital adoption to establish a strong foothold beyond Tier-i cities and expand our retail network in India. We are committed to creating value for our customers and retailers and, together, competing with established brands to empower our customers from all segments with our products that combine world-class technology, features, and designs.
We are planning to capture the market in the next few years with a strategic approach. Currently, we are focused on bringing three elements to our products: superior design, modern technology, and high performance. Nu is an aspirational brand for aspirational people who want to grow fast and upgrade their lifestyle with affordable and accessible products, and we are committed to giving our customers the best experience by keeping the focus on these three categories. And as we proceed, there will be new announcement that will follow later or by the end of 2023.
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When building Nu, we decided that we want to launch a platform/ brand that not just focuses on the metro cities; we wanted our products to penetrate further into tier-ii and tier-iii belts of the country and to achieve this vision, we extensively depend on the exhaustive network that we have built with Arzooo.
In addition to our parent platform, the products are also available to order via Flipkart, Amazon and trusted retail stores pan-India across 18,000 pin codes in 400+ localities. Not just limited to the products, we have also extensively worked towards building a competent after-sales customer service, promising seamless on-boarding and service experience for all of our customers.
India is one of the largest and fastest-growing markets for consumer durables in the world. With the ever changing and evolving technical specifications and consumer preferences, we have noticed that the buyer has become more conscious of their purchase and are increasingly opting for brands that offer premium state-of-the-art products at an affordable rate and are environmentally conscious.