ZinQ Technologies, a part of Quantum Hi-Tech Group, is known for its lifestyle gadgets and accessories. The brand started its journey in 2019 through Amazon Accelerator Program. At present, the brand has a presence only on Amazon
The brand develops products based on the insights shared by Amazon. It started by selling products like power banks, chargers, mobile accessories, and cables. Now, it also offers other IP products like keyboard mouse, wireless mouse, and gaming accessories like gaming mouse, gaming headphones, and a lot more.
In an exclusive interview with Indian Retailer, the Founder of ZinQ Technologies, Arnav Mutneja talks about the secret recipe of the brand’s success and a lot more.
Here are the excerpts:
ZinQ registered an annual CAGR of 120 percent. Share with us the secret behind your success.
ZinQ, known for products in Quantum and IT space, has also forayed into other categories too. The brand has recently launched five different types of power banks, three models of the charger, and five cables. We also offer an IR thermometer.
The brand, which experienced sale figures of Rs 2-3 lakh in its first month of operations, has reached Rs 2.5-3 crore sales every month within just 2 years of operations.
Our team comprises engineers, so we have a deep knowledge of product development. We prefer to develop what the consumer is looking for and that is our mantra of success.
What consumer buying trends have you observed during the pandemic?
Yes, IT products have seen a huge boom, especially during the pandemic. Many computer accessories like type three converters, wireless mouse, and web cameras have seen a surge in demand. During the pre-Covid era, the web camera market was saturated, but due to Work From Home culture rising during the pandemic, the demand has seen a boom.
We thought that the demand for power banks will be less as traveling has reduced, but surprisingly, it is also picking up as consumers are spending more time on their phones playing games sitting on their couches. The average screen time that used to be around 4- 5 hours rose to 9-10 hours during the lockdown phase.
Across our entire portfolio - IT, mobile accessories, and gaming accessories - we have observed a spike, which is a major contributor to our growth.
What is your marketing strategy?
To garner more eyeballs, we are spending almost 80 percent of our budget on sponsored ads and banner ads on Amazon along with push notifications. As long as the product doesn't appear on the first page of search results, it doesn't sell. We have started selecting the right keywords targeting the right customers on Amazon.
We are also trying to get into other platforms like Inshorts and Times of India. We are inclined towards Convergence-oriented marketing on a platform like Amazon. Apart from this, we also do generic brand-building marketing off-platform. We are also social media and various other PR activities to boost awareness about the brand.
What kind of revolution in technology are you planning to bring?
The basic idea of ZinQ is getting into the audio space as the audio category is bigger than the IT space. A lot of evolution is still required in the audio space, especially at mass-market price points.
For instance, if you take wireless air buds of any brand, there are fewer options available under Rs 1,000. Using our expertise, we offer products to customers, which are good at performance and are available at reasonable price points. Apart from that, there is also an opportunity for noise-canceling microphones and Bluetooth speakers.
However, a lot of innovation is on its way across the category. To explain it better, I'd say that we are working with Amazon to develop a mini keyboard for Firestick. We are targeting the search results on the platform to bring a lot of revolutionary products.
Are you planning to expand your reach globally?
Although Amazon Accelerator Programme is present across all countries, we started with India. We are the first brand to get into this phase with Amazon. Now, Amazon has started selling in the Middle East, so are launching products in the Middle East along with Europe. Currently, we are present in Spain, Italy, France, UK and Germany with Amazon.