Imagine Marketing, the parent company of boAt has been ranked 5th in the world as per the leading market research and advisory firm International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker Q2CY2022.
In India, Imagine Marketing continues to retain the pole position in the overall wearables category for the third consecutive year (CY20, CY21, CY22 YTD) as per IDC India Monthly Wearable Device Tracker, August 2022.
Imagine Marketing leads the TWS category with more than 40 percent market share in July 2022. The growth is due to reasons including availability, affordability, better features and functionalities like ANC, innovative designs, and low-latency modes for gaming.
Watch-based wearables also tend to be the fastest-growing category for Imagine Marketing showing strong momentum with more than 145 percent growth over the last year.
In addition to the affordability, features such as Bluetooth calling, bigger screen sizes, and AMOLED displays attract both first-time users and upgraders.
The company is buoyant about the festive sales season and is forecasting increased demand for its expansive product portfolio which is drawn on positive consumer sentiment, affordability, and a better feature set in its devices. Besides, during the festive period, people are also seeing boAt smartwatches and TWS devices as good options for gifting purposes. As ‘Make in India’ continues to scale up, it is enabling the brand to launch products faster and at lower prices. The brand plans on manufacturing 6 million units in H1FY23 under its Make in India strategy.
The company has a strong omnichannel strategy with its products are available across marketplaces including Amazon India, Flipkart, Myntra, Paytm, and more. The brand is available in more than 20,000 stores including Vijay Sales, Croma, Reliance Digital, and more.
“Design, innovation, and customer centricity are core to our business. The success of our brand can be credited to our agility, fast innovation cycle, and constant listening to our boAtheads. We are humbled, overwhelmed with the confidence and support entrusted by customers over the years. It is a moment of pride for all Indians as it validates the growing acceptance of home-grown brands globally. With the support of our Government, we will aim to become a global lifestyle brand. We at boAt understand the requirement of millennials and will continue doing what we do best to serve the community of boAtheads,” said Aman Gupta, Co-founder and CMO, boAt.
Since the first quarter of the Financial Year 2022, many boAt products within the Rockerz, Bassheads, and Airdopes product ranges, as well as within the accessories are being manufactured in India.