Vivo Eyes 10 Flagship Stores By 2024
Chinese smartphone maker Vivo has announced plans to open 10 major showrooms in the country by 2024 as part of its plan to expand its offline services and connect with customers.
Vivo's announcement follows the opening of its largest flagship store in Ahmedabad, spanning 7,000 square meters over three floors. With this new store, the smartphone brand now has four flagship stores in cities like Bangalore and Coimbatore. The new flagship stores will feature Vivo products in different categories allowing users to browse products. In addition, service centers are appearing in stores, as well as game zones, where consumers can experience games on their devices in different modes.
The company also hosts monthly seminars on topics like smartphone photography.
“With customer centricity being our top priority, we are committed to creating a unique, immersive and interactive experience for our customers through our unique stores. As such, our state-of-the-art experiential flagship stores are designed to allow consumers to meaningfully interact with products and get an integrated and seamless product experience under one roof. Jeetaj Channa, chairman of the company, said Vivo's strategy in India.
"We plan to add more experiential stores in other Tier 1 cities as part of our long-term goal of providing an immersive shopping experience for our customers," Chanana added. Currently, the company has a network of 650 specialty stores.
Recently, brands such as Samsung, Apple, Xiaomi, etc. expand their offline presence, which is very important for companies in terms of diversification trend. Analysts say consumers want to feel and experience products before buying high-end smartphones, and that requires an offline presence. According to industry estimates, 45% of smartphone sales in India are through the internet, which provides access to the physical component.
According to Counterpoint and Canalys, Vivo has the second largest market share in the country, with 17% at the end of June. Samsung maintained its lead for the third consecutive quarter with 18% market share. According to IDC, Vivo leads Samsung with 16% market share.
“Vivo maintained its second position in the overall market and is the only top 5 brand to achieve year-over-year growth. This growth is driven by strong offline presence and brand growth,” said research analyst Shubham Singh. Counterpoint. iQOO, its online shopping subsidiary, launched multiple price ranges: in the April-June quarter, the smartphone brand sold 6.4 million phones, up 7% year-on-year previous one, reported Canalys.
