Market analysis firm Techarch said on Sunday that domestic smart electronics companies such as Lava and Cubo are getting high ratings and competing with their global peers in terms of brand recognition. In December the firm conducted a study based on the ratings received by 25 brands across 35 different product categories on e-commerce platforms Amazon and Flipkart.
“In our analysis, we found that among Lava's global counterparts, including brands like Realme and Redmi, the average user weighted rating on ecommerce platforms was 4.3. Against this Lava scored 4.2, hitting the industry benchmark,” the report said. .
Lava scored 90.2 percent high ratings (4 and 5) compared to global brands where 75.8 percent of consumer ratings had scores of 4 or 5, Techarch said.
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The firm has selected Hero Group firm Cubeo for the study in the Internet of Things segment. Its 4.1 ratings beat the industry average of 4, however, the company's global counterparts have a higher proportion of 4 and 5 ratings.
In the wearable segment, Indian brands fall short of the industry benchmark compared to their global counterparts such as Realme, Redmi, OPPO, OnePlus Nord etc.
“While the industry benchmark rating is 4.2, Indian brands Noise and Bolt Audio have a rating of 4.1, followed by Bot and PTron at 4.0. Brands including Mivi, Gizmore and Number have an average weighted rating of 3.9 in this category,” the study said.
Among domestic brands in smart electronics, Lava tops e-commerce platforms with a weighted average customer rating of 4.2, followed by Cubeo at 4.1, Techarch said.
“There is no strong correlation, but it can be seen that brands such as Lava and Cubo, which have invested in end-to-end product design and development in the country as far as the technology value chain allows, have achieved top rankings across the board. Domestic smart electronics brand in terms of customer ratings,” the report said.
The firm did not include Apple and Samsung wearables in the study as it believes these brands are for different consumers, but Indian brands that sell wearables target a huge segment of consumers.