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The Success Story Of boAt: How boAt Captured The Indian Market



Listening to good music is the best way to treat yourself, and having a boAt equipment to listen to it on is the frosting on the cake. This lifestyle brand has revolutionized our lives by providing us with economical, trendy, and high-quality consumer electronics.


The firm sells headphones, earphones, speakers, portable chargers, and premium cables, among other things. There have been excellent brands on the market that offered a diverse range of items, but the problem was that they were either excessively costly or visually ugly. This is where the boAt way of life ushered in the transformation. This India-based company has been able to captivate customers with its stylish items.


The Idea & Success

Listening to good music is the best way to treat yourself, and having a boAt equipment to listen to it on is the frosting on the cake. This lifestyle brand has revolutionized our lives by providing us with economical, trendy, and high-quality consumer electronics.


The organization constantly performs well in the market. The company's domestic sales have topped Rs 100 crore. The firm has evolved from two founders to a 35-member team with offices in Mumbai and Delhi, India's two largest metro cities. With a market share of 27.3 percent in the earwear category, boAt audio was the most popular brand in 2019. It generated Rs 500 crore in revenue in FY 2020, up 108.8% from Rs 239.44 crore in FY 2019, and the company has been profitable for five years in a row.


Initially, boAt primarily sold its items on e-commerce platforms like Amazon and Flipkart. The firm presently has 5,000 retail outlets and 20 distributors supporting it. The company claims to sell 10,000 units per day and four million units annually. As of present, boAt claims to have serviced over 20 million Indians.


Reason Behind Its Success

There is no one-size-fits-all formula for success. In terms of the procedure, this is not an exception. They changed their approach from the start when they projected themselves as a lifestyle brand, and they continued to improvise. Several factors contribute to boAt’s success. So, let's talk about them.


  1. Consumer-first Approach. Anyone who possesses a boAt product is dubbed "boAthead" and is welcomed into the tribe. Users have a sense of belonging as a result of this. The organization believes in paying great attention to consumer demands and building solutions that address them. Its initial product was a non-destructible Apple charging wire and charger. The product was created after the founders realized how important it was. According to various critical observations made over the previous three years, people are increasingly requesting sports and fall-proof headphones, and boAt's goods are getting uninteresting. As a result, the start-up created fall-proof headphones as well as new colors for its products.

  2. Lifestyle Brand Portrayal. Rather than being referred to as a consumer electronics company, the company promotes itself as a lifestyle brand. This strategy was on display during the 2019 Lakmé Fashion Week in Mumbai, as models walked down the catwalk for one of the designers wearing just boAt items as their sole accessories.

  3. Expanding Choices. The second product they introduced was an audio range, which comprised earbuds, after unveiling the durable Apple charging cable and charger. The corporation based its decision on important consumer insight, which revealed that Indians enjoy bass. BassHeads were the company's first earphones. The organized earphones market was expected to be worth between $30 billion and $40 billion, with a 20-30 percent annual growth rate.

  4. Target Audience. Millennials' lifestyles are valued by boAt. The company caters to the youth by offering fashionable and cheap products. boAt’s brand ambassadors are mostly young. The brand ambassadors who represent India's most popular interests (and obsessions) - Bollywood and cricket - are responsible for most of the hype boAt has generated. The company even creates goods tailored to the needs of teenagers. For example, India's increasingly fitness-conscious millennials are interested in sports earphones and Bluetooth speakers. Customers choose equipment that is compatible with their workouts, routes, hikes, and entire lifestyle.

  5. Online Marketing. boAt has relied immensely on social media to sell its products. Traditional media, such as television and print, have been avoided by the brand. They have mostly promoted their initiatives on Facebook and other social media channels. According to one of the developers, the explanation is that millennials spend the majority of their time online. Currently, there is an online community of boAtheads with over 80,000 members. The corporation also uses celebrity endorsement as a marketing tool.


Conclusion

Beautiful and durable objects have always been a trademark of the boAt lifestyle. Because of the success of boAt's products, large firms like JBL have been forced to drop their prices to compete in the inexpensive audio niche. Technology has improved our lives and is the most important enabler in the world we live in today. boAt Lifestyle aspires to be at the forefront of the audio industry's evolution. The brand does not appear to be coming to a halt, but rather is setting out on a fantastic journey.


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