Syska in 2019
We continue to chase and achieve a growth rate of at least 25 to 30 per cent YoY through the introduction of technologically advanced products across different segments at prices which create a strong value proposition for our target customers. This year, we have seen impressive growth during the festive season with Syska’s sales on e-commerce platforms touching 125 per cent across all our product categories. Some of the most successful categories have been personal care and LED lighting. The introduction of smart lighting solutions in 2017 has been a game changer with our sales growth touching a high of 300 per cent this year. Also, thanks to the growing consumption from millennials and Gen Z customers, there is a healthy upsurge in the demand of personal grooming products and mobile accessories.
The FMEG (Fast Moving Electrical Goods) products category is witnessing a surge of IoT technology that brings more convenience and comfort to customers. This will help in gradually shifting the functional value proposition from mere energy saving to the aspirational and functional proposition of connectivity (app and voice assistants). We are expecting steady growth as consumers are becoming more aware about environmental sustainability. Additionally, we expect the electrical industry to perform even better in FY’20 owing to increasing demand, with the FMEG industry growing at a healthy pace of more than 13 per cent CAGR.
We at Syska believe in sustainability and promotion of a sustainable environment by offering eco-friendly and energy-efficient lighting solutions. We offer a range of ecofriendly LED lights which consume up to 70 per cent less power. They provide excellent intensity, uniform light distribution, high efficiency, and strong ROI. Syska LED lights are completely free of toxic components like mercury, lead and glass and are also unbreakable. Additionally, we provide a 2-year warranty as compared to other companies and offer these products at a competitive price.
Also, Syska supports the initiatives taken by the Government of India, whether it is Digital India, Make in India or its smart cities mission. We believe in the same philosophy and through our smart home product range we aim to help convert simple homes into smarter ones. As an endeavour towards providing the best customer experience through innovative product solutions, Syska has also proactively introduced Wi-Fi enabled home appliances which can be voice controlled.
As a thought leader brand, Syska is known to address the fundamental need of educating customers about the very benefit of LED adoption. Our brand uses a strategic mix of TV, OOH, digital etc. to create the desired equity and convey the proposition for both offline and online customers. It is only because of these sustained marketing efforts that Syska has successfully brought about a retail revolution in the otherwise institutional category. Also, at Syska, it is not only about sales and growth in numbers, but more importantly about making an impact and a difference to the lives of our customers.