Tuesday, January 23, 2007

Wait and watch

India has always been a fascinating country for marketers. With more than 1.2 billion population, marketing in India has a different charm all together. Now look at the watch market for instance. India is the most promising markets for the watch trade across the globe with penetration level of 25 watches per 1000 people, as compared to global average of 250 watches per 1000 people.

Out of the total present demand of more than 30 million units, the ‘organised’ sector supplies only 14 million units valued at $203 million while the ‘unorganised’ sector (read illegal) is worth $232 million. Over the past couple of years the watch industry have shown a decline in growth rate until last year when the market grew by 14.73 per cent in 2006. All kudos goes to Titan for its brilliant marketing initiative. At present there are more than 20000 watch retailers in India. The watch industry is estimated to be Rs. 2750 crore in 2006 and expected to become Rs. 4750 crore by 2009.

Seems like Titan is the only Indian watch maker doing all the marketing juggernauts? Wonder whether HMT is lost forever? Or will India become the new battle ground of Cartier, Omega, Rolex, Tissot, Swatch, Citizen and the numerous other luxury watches opening exclusive boutiques in India? Or can we see a complete brand revival of HMT? I guess we’ll have to wait and watch.

Do anyone of you remember any HMT print ad or a TV commercial?

1 comment:

SloganMurugan said...

There was an HMT dealer somewhere in Interior India who once famously displayed an HMT Water proof watch inside a glass filled with water.

It was runaway hit with farmers who used to get their hands wet and the "Water-resistant" new age brands could not help.