The 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.