‘Asian paints digital innovations to become customer centric.’ – Bonafide Research
Asian Paints is creating a great digital vision and helping
build technology platforms for customers with new innovations. The company has
a strong web presence and thus is a strong platform for consumers looking for
painting and decorating their homes. All main websites of Asian Paints,
www.asianpaints.com, www.sleekworld.com, www.beautifulhomes.com and the
websites of international units have been significantly helping out customers.
There is a
huge supply in today’s paint market and it is necessary to be different. A
retailer needs to be different from the masses and anticipate market changes. There
needs to be strong channel between online and physical stores in order to make
the profile strong. There is lot of information available for consumer and can
easily compare prices. Also online and in-store a chosen colour combination may
be sent to an e-mail address. This way the consumer can let it sink in, discuss
with others and always has the right colour codes at hand. Thus, it would be
great for both consumers and retailers. With the paint industry growing faster and faster, due
to increase level of education, customer awareness and willingness to spend,
this has brought about a revolutionary change in the paint industry.
According
the report on 'India Paint Market
Outlook, 2023' published by Bonafide Research, the paint market has grown
with a CAGR of more than 12% in volume terms during 2011-12 to 2016-17 period. Rapid industrialization and increasing customer needs
have forced leading manufacturers to develop differentiated products, which
results new products or variant, and pricing.
So to address this customer need, Asian Paints has invested
in 3-D visualization technology for the ‘Asian Paints Homes Stores’ and for the
kitchen business. This empowers the Asian Paints consultants to create a visual
model within a short period of time and making the customers work easy. Asian
Paints is devising innovative ways to help customers help themselves. It is in
the process which can help customers in taking the right decisions. Asian
Paints has also come up with software “Eureka” for getting new ideas around new
products. It has helped in generating a significant number of ideas and has
seen an encouraging response across. These initiatives are devised keeping the
customer in mind and helps them to deliver better.
Major
Companies
Major companies that
operate into the Paint market in India are Asian paints Ltd, Berger paints Ltd,
Akzo Nobel India, Kansai Nerolac paint Ltd, Pidilite industries ltd, Jenson
& Nicholson India Ltd, Shalimar paints ltd, Snowcem paints Pvt Ltd, British
paints India Ltd, Jotun India Pvt Ltd, Mysore paints and Varnish Ltd, British Paints,
Birla white, Gem paints, Suraj coats, Apollo paints Pvt Ltd, Advance paints Pvt
ltd and Nippon Paints.
Report: India Paint Market Outlook, 2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2022-23
Pages: 130 Figures: 47 Tables: 57
CONTACT
US
Bonafide Research & Marketing Pvt. Ltd.
Steven Thomas – Sales & Marketing Manager
Telephone:
+91-265-6551309/ +91-7878231309
Website: http://bonafideresearch.com/
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