Jo my vu1/12/2024 However, vendors are now striving for a better balance between offline and online channels. On the other hand, online demand has been inconsistent and primarily driven by urban consumers during e-commerce sales periods. “Offline consumer demand, both in rural and urban areas, has surged due to a strong retail consumer preference. “Vendors effectively collaborated with channels to tackle existing inventory backlogs, clearing space for new models before the festive period starts next quarter,” added Chaurasia. Samsung opened up more flagship stores throughout the country, while OnePlus has taken a creative approach with its pop-up stores, reaching multiple cities in tier-1 and tier-2 regions. For example, Apple opened some offline stores in India in April 2023 to address inventory issues, offer exclusive deals, and provide a unique customer experience. Consumer inclination toward offline shopping in the mass-market and premium segments continues to drive vendors to implement effective offline strategies. Vendors are investing in local suppliers, nurturing retailers and aligning with the government's vision. “Brands are cementing their position in the market by collaborating further with the Indian channel ecosystem. “Smartphone vendors are acclimatizing to the dynamic business environment, focusing on ensuring long-term sustainability,” said Sanyam Chaurasia, Analyst at Canalys. Xiaomi secured the third spot by shipping 5.4 million units, while realme and OPPO (excludes OnePlus) rounded out the top five by shipping 4.3 million and 3.7 million units, respectively. Trailing closely behind, vivo reclaimed the second position after a quarter, shipping 6.4 million units. Samsung retained its leading position in the market in Q2 2023 with an 18% market share, shipping 6.6 million units. On a sequential basis, the market grew 18% as the vendors’ inventory levels improved due to a moderately favorable business environment. Canalys research reveals that the Indian smartphone market shipments stabilized at 36.1 million units, a modest decline of 1%, signaling a slight recovery after three quarters of decline.
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