iGRiD is a Hyderabad headquartered, everyday consumer electronics and lifestyle brand. It was conceptualized in 2017. The brand caters to the everyday needs of Indian consumers at a desired value point. iGRiD is present in the categories of Daily essential electronics for home, medical devices, and Personal care devices. Madhav Kota is the Founder and Director at iGRiD. He was in conversation with team IT-Voice recently. Below is a transcript from the interaction:
Prateek: What is the vision behind iGRiD?
Madhav Kota: India is a diverse and vast country and has varied consumer dynamics. India is a country that has a significant consumer base for large and reputed brands, However, there also exists a large consumer base that seek quality, performance and assurance of a brand, But don’t see the value in paying a high price for the large brands. iGRiD fills this GAP. iGRiD Offers high quality and feature rich products in the space of Health devices, Beauty and personal care devices and home essential devices at a value that is highly desirable by this large untapped segment. We are India’s everyday consumer brand.
Prateek: How has technology impacted the growth of the consumer electronic market?
Madhav Kota: The technological advancements are both in the front end and the back end of the consumer electronics segment. With automation of the Logistics operations, advancements in the internet technologies, the accessibility and reach of products and information has increased significantly. By using AI and Big data and other tools, creating products specific to a certain set of consumers has become a reality. We now have products specifically designed for the Indian user and hence are no longer dependent on only the large brands to bring in the latest products.
Prateek: How would you rate Indian products in the global market? What steps must be taken to increase the stake?
Madhav Kota: Most brands outsource their manufacturing today. Contract manufacturing as an Industry has gained popularity amongst the Indian manufacturers as well. With the Make in India concept being promoted by the government, it has motivated many small scale Industries to raise their bar and to have a global presence. It has led to the local manufacturing being increased and leading the way for the upcoming startups and manufacturers.
How eCommerce has transitioned the ever changing electronics and lifestyle products market?
Madhav Kota: With the increased penetration of the internet into the tier II and Tier III cities, the demand has been growing rapidly in such cities. India has a huge untapped market in these locations which are being explored for the remote regions. This has led to the new business strategies being explored by the competitors which are helping the customers choose from a wide variety leading to boost of sales and revenue. There has been a steep rise in the sales of the products due to the pandemic that has helped brands gain high visibility.
Prateek: What kind of challenges do traditional businesses face while stepping up in the dot com business?
Madhav Kota: With the surge in e-commerce and faster delivery mechanisms, now have a variety of options to choose from. They no longer rely on the traditional businesses to fulfill their needs and demands. This is the reason why businesses running with a conventional approach are adopting innovations so as to cater to the requirements of the modern consumers. This is why conventional businesses are looking for new options to explore in the traditional business and take a step ahead in the traditional business.
