Top 5 Points of Focus for the organization for the year 2021
Amit Sethiya, CMO, Syska Group
Irrespective of anticipating about what is the new normal or abnormal, businesses across the globe have shifted their focus from continuity to resilience mode in order to future-proof their existence amid the uncertainties. While the pandemic stalled the world and paralysed the economy momentarily, it has also presented an unparalleled, unforeseen and unprecedented opportunity for the economic and social reset. Digital transformation got a catalytic impetus which was already around changing the way business operations were executed across the entire value chain. Realisation of ‘not going to be same as before’ situation was eventually layered with a strong desire and hope of ‘going to better time’. Consumer behaviour witnessed a huge transition when the needs moved south from self-actualisation and esteem space to physiological and safety zones. This was the very moment when category thought leader brand like Syska played its role in road of recovery and crisis management. With a clear belief that customers can hide but not brands, the agile entity planned its actions to still create market during the lockdown phase. Social distancing never meant customer distancing for the brand Syska which ensured product availability, entered a new segment, launched a disruptive product in a new category, enhanced its distribution strategy and offered smart lighting solutions – either during or post lockdown charting a clear strategic direction for the future to remain LIGHT YEARS AHEAD.
Need of Omnichannel presence has been voiced up off late in unison by all the organised entities ensuring product and service availability for the customers instead of forcing them to buy from a particular channel.As a leading FMEG brand, Syska has always put in efforts to achieve a vast distribution network across the country, to be available to a wider customer base through e-commerce partners etc. Post pandemic, customers also prefer to buy directly from the brand and avoid any intermediary for seamless interaction and deliveries. This D2C approach also provides a great opportunity to the brand for gradually generating the valuable customer base for upselling, cross-selling, research on one side and to understand their customers, their preferences better aiding sharper marketing and targeting plans.
Lateral expansion strategy of Syska into newer categories over the last few years has always helped the brand to increase its footprint per household. The journey which started with the flagship category of LED products graduated to offer product solutions in segments like Mobile accessories, Personal Care Appliances, Wires and Cables, Smart home devices. This move has also aided in mitigating the risks since there is a spectrum of the different customers from millennial to adults, across genders consuming the brand as per their choices and demand. Continuing the same league, Syska Group ventured into Fan category in December 2020 to offer an interesting portfolio of products including ceiling, decorative, wall, and pedestal, portable and exhaust variants. It will help the brand to recruit additional customers augmenting the performance in the coming months and quarters.
Gone are the days when the rare sight of the person using a premium wearable used to convey a message of the user being more evolved and sophisticated. Today, these are a must haves and more so basis what everyone has gone through because of the pandemic striving for better immunity and health. The way affordability has redefined segments like mobiles, telecommunications, hospitality, aviation etc., it has also now ensured that wearables are within the easy reach of customers who have become more conscious about their fitness and health levels which not only includes the youngsters but also adults and old-age members. The primary concern is to track their well-being on daily basis to ward-off the ailments. Syska launched its maiden edition of smart watch SW100 in July 2020 at a very disruptive price which was very well received by its target audience. The brand will focus to introduce better versions in the future with features like oxygen level monitoring etc. to add more value and relevance.
Retail continues to fragment further and offer unique avenues to its buyers. Lights products were initially available in electrical and hardware outlets but today they are also present on the shelves in daily needs and Kirana shops. Similarly, mobile accessories are now available not only in mobile outlets but also in stationery shops. Personal care appliances found additional availability partner from the conventional electronic or speciality shops to now even in medical outlets during the lockdown phase post the government announced them as a part of semi-essential items for the customers. This directive indeed helped the customers to look and stay groomed their best by being safe at home and optimised the distribution channel for Syska.
Speech and Voice technology is going to witness a whopping 2.5x growth by 2022 basis the increasing adoption by the customers who aspire for comfort and convenience. The experience delivered initially through a mobile phone has now been improvised by voice assistants used widely for controlling light and appliances in the households today. Post pandemic, preference for contactless interface has accelerated its presence from the existing domains of shopping, payment to newfound areas of food and product delivery, lighting control to name a few. Syska smart home devices controlled by apps and voice assistants offer complete immersive experience. These products in the form of bulbs, tubes, panel lights, downlights and strip light deliver 16M colours, can be timed as per the user’s lifestyle, can be controlled by being out of home as well etc to name a few benefits. Syska smart plug infact empowers the customers to convert the existing white goods and electrical appliances into semi-smart.