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Tag: analysis

  • Future of Electric Two-Wheeler Industry in India – Will It Sustain?

    As we all know, two-wheelers constitute a considerable part of the Indian motor vehicle ecosystem and are an integral mode of transportation in some regions. Though two-wheelers have been around since the early 20th century, it is only a decade old that they have started to make their way into the daily lives of millions of Indians.

    The number and types of two-wheelers available in India have expanded to include scooters, motorcycles, mopeds, and motorcycles that are mostly fuel-driven. On the other hand, there is a relatively small but fast-growing segment of electric two-wheelers, also known as e-two-wheelers.

    These are gaining popularity and have been making headlines due to the apparent benefits they bring with them. But how long will these e-two-wheeler companies sustain? Well, this must be a question that every potential buyer has in his mind when he or she decides to buy one.

    In the recent past, though, India has made it clear that they want nothing less than 7 million EVs on their roads by 2030. This seems like a tall order, and India will have to exert a lot of effort towards making it possible. Let’s check out what Indian Electric Two-Wheeler Industry looks like and is it able to survive;

    Pioneer of Electric Two-Wheeler in India
    Support by the Government
    Growth of Electric Two-Wheeler Companies in India
    What Is Propelling the Growth of Electric Two-Wheelers?
    What Is Restricting the Growth of the Electric Two-Wheelers?
    The Hype Surrounding the Two-Wheeler Industry
    Future Trends of the Two-Wheeler Industry
    Steps That Should Be Taken to Sustain the Growth of the Two-Wheeler Industry

    Pioneer of Electric Two Wheeler in India

    The electric two-wheeler industry has been growing steadily over the last few years, but it still remains a niche market. The first electric scooter was introduced in 2013 by a startup called Ather Energy, and since then, there has been no looking back.

    The company sold 1,000 units of its Thunderbird in 2016 and manufactured over 3,000 units of this model in 2017. The company also plans to launch an electric motorcycle in the next couple of years and plans to sell around 100,000 units of this model. This is just one of many brands that have begun manufacturing electric two-wheelers in India.

    The electric two-wheeler industry is at its nascent stage in India. The Government has recently announced a plan to make all vehicles driven by electricity by 2030.

    Support by the Government

    The electric two-wheeler industry has been the center of attention for quite some time. The main reason for this is the rising pollution and the need to reduce it. The move toward electric vehicles is a step in the right direction. However, many factors need to be taken into account before making a decision on which vehicle to buy.

    It has been announced that the Indian Government will invest $60 billion in electric vehicle production by 2025 as part of their “Make in India” campaign. This is expected to boost sales by 50% over the next five years.

    The number of electric two-wheelers sold per month has steadily increased since 2013, when they first hit the market, with only 1,000 units being sold that year. Still, this figure has now climbed to over 20,000 units per month, according to recent reports published by SIAM (Society of Indian Automobile Manufacturers).

    The Indian Government aggressively pushes the electric vehicle (EV) agenda to reduce pollution and boost green energy. It plans to achieve the target of 100% electric mobility by 2030. The Government has also announced several incentives, such as reduced GST and better infrastructure for EVs, among others.

    The industry is still at its nascent stage in India, and the demand for electric two-wheelers is mainly driven by e-commerce companies like Flipkart, Amazon, etc. However, growth in demand for electric vehicles has been slow due to poor infrastructure, lack of awareness, high cost, and customer preference toward conventional bikes over electric bikes.

    Growth of Electric Two-Wheeler Companies in India

    Electric two-wheelers are gaining momentum in the Indian market. Several companies have entered the electric two-wheeler segment in the last two years. These include Hero Electric, Ather Energy, Zoomcar, Ola Electric and TVS Motor Company.

    Some of these companies have already launched their products, and some others are about to launch them soon. This has led to increased competition in the industry which will benefit customers in terms of better products at lower prices. However, there are still some challenges that these companies need to overcome before they become profitable entities.

    What Is Propelling the Growth of Electric Two-Wheelers?

    Electric two-wheelers are a relatively new concept in India. The idea is not new, though, with countries like China have been using electric scooters and bikes for a few years now. Indian cities have been witnessing a surge in the number of people opting for public transport due to traffic congestion and pollution levels, which has led to the increased usage of electric vehicles.

    The need for an alternative method of transportation has gained more importance than ever before. The number of people opting for electric two-wheelers as their primary mode of commute has grown manifold over the past few months, especially after the Delhi government announced its plan to buy 10,000 battery-operated bikes from BSF to be used by its security personnel.

    The major factors driving this growth are:

    • Increase in disposable income
    • Government support and subsidies
    • Increasing awareness about pollution and climate change.
    Sales of Electric Two-Wheeler in India by Brands
    Sales of Electric Two-Wheelers in India by Brands

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    What Is Restricting the Growth of the Electric Two-Wheelers?

    Electric two-wheelers are gaining popularity in India. The electric two-wheeler industry is anticipated to grow at a healthy pace in India and is expected to become a USD 3 billion market by 2025. However, some factors are restricting the growth of the industry in India:

    High Manufacturing Cost

    The manufacturing cost of an electric two-wheeler is high compared to conventional bikes due to the use of expensive lithium-ion batteries and other electronic components. The cost of manufacturing an electric scooter or bike is around USD 1,600 while manufacturing a conventional motorbike is around USD 500-600.

    Experts believe that if the cost of raw materials used in making electric bikes comes down, then it can help reduce the overall manufacturing cost significantly.

    Limited Availability of Charging Infrastructure

    There is limited availability of charging stations for electric two-wheelers in India which will restrict their growth in the next few years unless considerable investments are made by manufacturers and government bodies to build charging infrastructure across cities and towns across India.

    There were only about 1,000 charging points across India as of December 2018, which means that there is only one charging point per every 100 km, making it difficult for users to charge their batteries while commuting between cities or towns.

    Low Battery Life

    Another challenge facing this industry is that its batteries do not last long enough before they need charging again; often, they only last 10 kilometres or less before needing recharging again.

    The Hype Surrounding the Two-Wheeler Industry

    The hype surrounding the industry is more than just a marketing gimmick. The Government has been actively promoting the use of electric vehicles in India. The Government believes that if many commuters adopt these vehicles, it will help reduce pollution. It also hopes that this will lead to economic benefits by reducing fuel imports and improving job creation.

    The Government has set up several incentives for such purchases to encourage people to make this switch. For example, buyers get an additional income tax deduction under Section 80EE of the Income Tax Act.

    This gives them a deduction of Rs 1 lakh on an electric car and Rs 50,000 on an electric scooter or motorcycle. Thus, if you bought a new two-wheeler that costs over Rs 2 lakhs after March 31st, 2022, you can claim as much as Rs 50,000 as a deduction from your taxable income for each vehicle purchased during the financial year 2021-2022; this is double what you could claim in FY2020-2021.

    Future Trends of the Two-Wheeler Industry

    The electric two-wheeler industry is growing at a fast pace. Many companies are trying to come up with new products and services. The future trend of the electric two-wheeler industry is that it will continue to grow and become more popular in the future.

    The following are some of the promising trends that can be expected in the next few years:

    Increase in the Number of Electric Bikes

    The number of electric bikes and scooters will increase in the coming years as more people are interested in them because they want to save money on fuel, reduce pollution, and many other reasons.

    More People Will Use Electric Scooters or Bikes for Commuting Purposes

    Commuting is one of the major drivers of why people are using electric scooters instead of cars or public transportation. They do not have to worry about intense traffic jams or finding parking spaces when they commute using an electric bike.

    Increasing R&D Investments

    The major players across the globe are investing millions of dollars in R&D activities to develop new technologies and improve existing ones. For instance, Shimano Inc., a Japan-based company, has focused on developing new products such as electronic shifting systems, road bikes, and mountain bikes since 1984. It also acquired Cannondale Bicycle Corporation in 1988, which provided it with an opportunity to strengthen its position as a leading player within the biking industry.

    Steps That Should Be Taken to Sustain the Growth of the Two-Wheeler Industry

    The Indian two-wheeler industry has been expanding at a healthy rate of around 20% year over year. This growth has been supported by increasing urbanization and increasing disposable income. A rising preference for automobile ownership is also driving the demand for two-wheelers. However, this growth may not be sustained in the long run if we do not take certain steps immediately.

    The first step would be to improve the infrastructure of roads, highways, and other modes of transportation in India. As a result, this will significantly improve the movement of goods and people across cities and states, thereby creating job opportunities for millions of people.

    The second step would be to create an environment conducive to innovation and research & development. This will ensure that new technologies are developed to help reduce pollution levels in our cities and towns.

    Thirdly, we need to encourage the use of electric vehicles (EVs) as they can play an important role in reducing pollution levels in our cities and towns, as well as bring down costs associated with transportation systems due to reduced maintenance costs on EVs compared with conventional internal combustion engine vehicles (ICEVs).

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    Conclusion

    India needs to focus its attention on developing a strong manufacturing base for electric two-wheelers. If we develop that, then the market will indeed thrive…

    The electric two-wheeler industry has a realistic chance for growth in India. The Government needs to foster the market through reduced taxes and incentives for manufacturers and suppliers of electric two-wheelers. This will allow more competition among manufacturers and easier access to parts by consumers. The Government should also focus on minimizing the cost of creating infrastructure that can support electric two-wheeled vehicles (i.e., charging stations, electricity reinforcement, etc.), as it will significantly impact the demand for such vehicles.

    The market will quickly pick up, with the launch of new manufacturing facilities accelerating the transition from fossil fuels. One day, soon, we will see the day when switching to an e-bike or a car powered by electricity will be an easy choice for people in India and around the world.

    FAQs

    How many electric two-wheelers are there in India?

    In 2021 there were nearly 1.4 lakh two-wheeler units were sold in India.

    Which is the best electric two-wheeler in India?

    Ola S1, Bajaj Chetak, TVS iQube, and Okinawa iPraise are some of the leading electric two-wheeler brands in India.

    Which is the largest selling electric scooter in India?

    Hero Electric is the largest selling scooter brand in India.

  • How to Do a Competitor Analysis in 5 Simple Steps?

    Being involved in a business means being a competitor among several others. Value and appeal are always at the top of people’s minds. Whether you’re the biggest fish in the ocean or not, you must know how your competitors work. Want to know their secrets? Marketing analysis is where you study and identify information about a business or product while assessing its individual qualities and drawbacks.

    Analysis and studying your competitors can reveal a lot of information that you may have overlooked. This information can help your business grow tremendously and bring in new customers. Getting to know your competitors not only helps you be prepared but also helps you learn from their mistakes. That being said, let’s look into how to analyze your competitor.

    Prerequisites to Analyse Your Competitors
    How to Analyse Your Competitor?
    1. Identify and Evaluate
    2. Tracking and Spying
    3. Find Out What Makes Them Unique
    4. Analyze Customer Ratings
    5. Evaluate Strengths and Weaknesses

    Prerequisites to Analyse Your Competitors

    Before you head on to analyze your competitors and take in information, there are a few questions you have to ask yourself. These may be according to your preferences depending on the business. These questions when answered should help you gain an advantage over your competitors. You will be more focused and organized once you have an overview. Some of these questions can be:

    • What about my competitor’s business do I want to know the most?
    • How long has my competitor been in the industry?
    • What is their strongest selling point?
    • What technologies are they using?
    • How big of a threat are they?

    These questions will help enhance the speed of your analysis process. Having a vision is crucial as it can be overwhelming to process all the information together. Once that’s done you can begin analyzing your competitor.

    How to Analyse Your Competitor?

    You might be surprised how a simple and easy-to-do analysis can reveal a lot about your competitors. This information can help you gain an advantage over them and improve your own business. Here we’ll look at 5 simple steps to analyze your competitor. The tools and methodology will also be explained for each of the steps below:

    1. Identify and Evaluate

    The first step is to identify your competitor. This means that you need to collect more statistical information rather than the company name and description. Finding out exactly where they rank up and how dominating they are will help you to evaluate their threat to your business. There are several free tools available to help you assess your rival.

    SimilarWeb is a web traffic and analysis tool used by several businesses. It allows you to get the SEO rank of a website and details such as engagements, traffic by countries, the sources of traffic, etc. It even shows you a list of similar websites and competitors. This data can reveal their source of customers and a general idea of how good their website is. You must evaluate your results and understand your competitor before moving on to the next step.

    SimilarWeb results (Identifying your competitor)

    2. Tracking and Spying

    Observation is key when performing an analysis. To know exactly what your competitor does to maintain their position you must observe and track their actions. This is rather an easy thing to do in this digital era where nothing goes unnoticed. Observe them for a specific period. This could be anything from a week to an entire month depending on the kind of results you get. Try to visit their website often. What changes are they making concerning the industry? This could be the information that your business is lacking or something you could improve at.

    Tracking Your Competitors

    Some tools make this process much easier. Google Alerts and Brandwatch can track your competitor and give you alerts when certain events are triggered. These events can be when their traffic goes up a certain number, a certain page gets more visits or a social media post on trending. Tools like BuiltWith help you track the technologies used. Once you get these alerts, you can personally read the posts and know exactly what they did to get the extra attention. Progressive tracking can give you valuable insight into an organization.

    Spying on Your Competitors

    While on the other hand, one of the tricks that can be used in getting hold of trending advertisements of your competitors and their their ad strategies is Ad Spying. Ad spying tools like AdSpyder help in spying on the competitors’ ads on all the major social media platforms like Facebook, Google, Youtube, and Instagram, and also on search engines like Yahoo and Bing.

    3. Find Out What Makes Them Unique

    Every business has something about them that makes them different. When it comes to marketing it’s not just the product that makes a difference. Look into their socials, try to find out exactly how they advertise besides their website. How are the targeted customers drawn to them? Why would someone pick them over your business? Find out these factors and use them to boost your business. Although this doesn’t mean you should steal ideas from your rivals. It means that you can gain insight and use it as inspiration when you do your marketing.

    4. Analyze Customer Ratings

    Look at the business from a customer’s point of view. What seems appealing to the customers may be what drives their business. Check the rating and reviews of the product or business using platforms like Trustpilot and Sitejabber. Knowing what the customers think about a service can help you get a direct overview of the company. You can also use surveys and analytical tools for this purpose. Customers fuel the business. Knowing the customer mindset can help you understand the business marketing efficiently. This also helps you test the positive and negative aspects of the business.

    Sitejabber reviews (analyzing customer ratings of a competitor)

    5. Evaluate Strengths and Weaknesses

    No business is perfect at what they do. Yet they are successful because they’re good at certain things. These are defined as the strengths of any business. While analyzing your competitor it’s important that you know and accepts their strengths. Learning from your competitor and getting better is a huge benefit for any business. There are also weaknesses. These could be anything from a flawed marketing strategy to bad customer service. Knowing the weaknesses of your competitor allows you to exploit them by doing the deed better yourself. You not only have a chance of converting customers to your side but also improve in the long run.

    FAQs

    What is Marketing analysis?

    Marketing analysis is where you study and identify information about a business or product while assessing its individual qualities and drawbacks.

    What are the 5 steps to analyse your competitor?

    Identify and evaluate, Tracking and spying, What makes them unique, Analyse customer ratings, and Evaluate strengths and weaknesses.

    Why must one track the actions of competitors?

    To know exactly what your competitor does to maintain their position you must observe and track their actions.

  • Indian Wearables Market – A Comprehensive Study of the Growth of Wireless Industry

    As we develop multi-folds in the direction of technological advancements, we leave enormous amounts of things behind this trail. Yes, of course, leaving unnecessary things behind is a good way for going ahead in life. As technology gets more and more compact, we are witnessing the devices also get more compact. Data transfers are fast and now happen at unbelievable speeds. All these advancements are taking us to the new future, the future that is wireless.

    Wires are a thing of the past now. Who knows them? What are they? this might not be a valid question today but for real, who knows the future? we might be talking about them in stories only. Like we talk about floppies, telegraph, and analogue television. We live in a wireless world now.

    With the onset of the covid 19 pandemic and the spread of social distancing norms, we all are witnessing more wireless stuff than ever. Wireless is not even the near future, it is already here. Not only this it has transformed into multiple forms, like those of wearables.

    What do you Mean by Wearables?
    How Does This Wearables Technology Work?
    India and the Wearables Industry
    Leading Brands/Players in Indian Wearable markets
    Advantages of Wearable Devices
    Key Challenges in the Wearables Industry
    FAQ

    What do you Mean by Wearables?

    Technology was in your hands in the form of smartphones, but now it is getting smarter and has even managed to enter your humble wardrobe. As devices are getting diverse in features they provide, they are also turning into something that can be worn. That is what we mean by wearables.

    They are wireless gadgets with an inbuilt battery to support themselves. It can be a smartwatch, a fitness band, a wireless earphone, a smart pair of sunglasses and many more. These gadgets have already flooded the tech market in all forms, shapes and sizes, heavily democratising the market.

    They are the new trend. I use the word ‘trend’ here because they are used more in a fashion sense rather than being used as a convenient device. The fight between the idea of “need to have” or “nice to have” always goes on. You will find people saying a lot of things about both the arguments everywhere. There cannot be a single accepted conclusion.

    In Fact, the way they have entered the market is a unique way and it tells a story when we trace it. Smartphones were not considered something that was needed when they were just starting out. Feature phones were the ubiquitous devices that everyone used to call each other.

    Soon when people saw these little palm handed devices, they were in awe. Curiosity drove them to these and smartphones made the magic spell work. The result was that humans fell in love, so much so that it is now a necessity for everyone to have a smartphone. This is the point in time when wearables are at their initial beginning, and they’re already flooding the market.

    How Does This Wearables Technology Work?

    We can say that wearable devices were present for a long time. Their instances have to be said from the very past of eyeglass discovery. When eyeglasses were popularised, people saw a new perspective of gadgets that can be worn.

    Many years after that, when we have evolved technology so far and tiny, this tech is returning with big hope. Now, we can incorporate nano-transmitters coupled with an internet connection to a handheld device. These microprocessors are no less than a computer and can perform almost all the smart functions of a computer bigger in size.

    Also, the growth in the domain of smartphones also helped the development of smart wearables. The betterment of mobile networks helmed the development of the wearable industry. That being said, fitness trackers were the first kind of wearables that were popularised around the world. The moment they became famous and made their own market, more features and forms got into the market. The humble wristwatch evolved to incorporate a screen into itself.

    Wired headsets went on to rethink their purpose and Bluetooth headsets took their throne. A simple sunglass also was taken hostage by more smart and web-enabled glasses that could do more than just being sunglasses. The gaming industry was also stormed with virtual reality headsets and augmented reality screens and wearables.

    India and the Wearables Industry

    Smartphones in India and elsewhere started as an item of luxury and wasn’t really something that everyone could own. This situation saw a drastic change as technology penetrated deeper and deeper roots in India and everywhere else. This change can be observed quite easily. There is however a very good chance that smartphones could become a thing of the past in our future.

    “Smart wearables are not just something that you can wear on your wrist and it will perform basic already told functions but it will be much more than that. In maybe three to five years this will replace smartphones and phones will be obsolete by then”, says GOQII’s chief executive officer, Vishal Gondal

    The above sentence is proven right with these numbers. India’s wearable market grew about 93.8 per cent year on year in the July to September quarter, this year. India shipped 23.8 million units. Moreover, all these skying numbers are despite tough logistics challenges, increased freight charges, aggressive vendors at the other end.

    India Wearables Industry
    India Wearables Industry

    A famous wearable, smartwatch remained a heated up category all the way. It saw 4.3 million shipments in India in the third quarter. Wristbands or the infamous fitness bands saw a decline, IDC reports said.

    This is what people are feeling about smart wearables. This really is looking like something that will most probably shape the future of technology in India.

    Let us talk about some numbers in this rising trend. Before we go into the shipments and surge in demand for these tech wearables in India, we need to know about the information provider.

    May 2021  

    The wearable market in India grew about 170.3 per cent on a year over year basis in the first quarter of 2021 (January to March). India saw a shipment of 11.4 million units according to the International data corporation, IDC.

    The first quarter of 2021 also saw a surge in the domain of the watch and earwear category. Watches saw a growth in demand up to a wonderful 463.8 per cent year on year basis in the very first quarter. Comparing both the demand for earwear and the watches segment watches had a higher share of magnitude in numbers.

    Even with that partition, earwear has managed a handsome three-digit growth in the first quarter. All these wearable surges show how people are reacting to the health situation in India. We are all more vocal about our health than ever.

    August 2021

    Following the previous growth trend, wearable grew even more by now. It saw a massive growth of about 118 per cent on a YoY basis (Year on year) in the second quarter of 2021 (April to June). It also saw a shipment of 11.2 million units of wearables, according to the recent IDC data. Watches continued to be the fastest-growing segment in the world of wearables and covered up to 81 per cent share in the write wear domain.

    The category of wristwear grew at 35 per cent from that of a year ago. Another important trend that was seen was due to the COVID 19-second wave. The second wave impacted the overall wearable shipments by about 1.3 per cent in the second quarter of the year. This slump however did not impact vendors because they know that the demand will rise again once the situation is normal. So they tried to stockpile for next quarter.

    Over the quarters, the smartwatch form factor seems to be appealing to the consumers, and Indian brands have been quicker to leverage this trend and align their device portfolio.

    November 2021,

    IDC’s report mentioned that India’s wearable market grew by 93.5 % year over year (YoY) in the third quarter (July to September). India saw shipping of 23.8 million units to its borders. In the third quarter, the growth can be seen even with the fact that logistics was hard and freight costs were increased after the decline in covid 19 cases.

    In the month of September, the shipments saw a surge that surpassed 10 million. This was a record growth in wearable devices in the face of the month-long festival season in India. India’s favourite wearable in terms of shipments was again the category of smartwatches. Watches continued to be the fastest-growing pace at 4.3 million shipments in the third quarter.

    While wristbands or fitness bands saw a decline consecutively for the seventh quarter. Other than that TWS (Truly wireless) came into the big picture, by reaching a 39.5 per cent share of earwear in the third quarter. However, the ear market is seen to be dominated by over-ear and tethered gadgets.

    “The proliferation of new entrants in the mass market segment has increased competition, putting a lot of pressure on brands to differentiate in a market that is getting inundated with lookalike products,” said Jaipal Singh, Research Manager, Client Devices, IDC India.

    “Celebrity endorsements are a key tactic for brand recall. However, to maintain the growth momentum they must invest more in newer designs and aesthetics, as well as newer collaborations with existing franchises, Singh further added.

    All these trends point to a booming future in the land of this diverse country, India. There are many reasons why this type of technology is a hit in India, they are convenient and easy to use in any field domestically.

    In a developing country like India where tech is still getting bigger, this technology seems to be driving the growth. Let us see how this field is becoming the trendsetter in India, and thus the advantages it provides to the general tech-savvy public.

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    Leading Brands/Players in Indian Wearable markets

    Even if you are not a fan of the wireless movement, you will notice some brands that shine all over the place. Yes, we can call this time “The wireless movement” where everything is going wireless. Now we will talk about some brands that are the top players in this market segment.

    Even when you think you are away from these names, you will hear them from your friend or a friend of a friend. These brands have made their presence heard, quite literally. The brands that are leading the wearables market in India are listed as follows.

    A Gurgaon based company leads the sales and revenue for the sixth straight quarter of the smart segment wristwatch market. That company is “Noise”. Noise is able to create a sound in its wristwatch segment this year. It had about 26 percent of the market share in the quarter that ended on September 30.

    After Noise, the next brand is an Indian brand that primarily manufactures audio devices, but also got into the smartwatch segment. “Boat” is that brand after the 26 percent share of Noise, it has more than about 23 percent share of the whole watch industry. After these top two brands, there are several others who are cashing on the growing demand.

    The third, fourth and fifth name according to the market share is Fire-Boltt, Realme and Zepp (Amazefit). All these brands are combined covers the hundred percent of shipments that came to Indian borders this year.

    After we talked about the watch market, now is the time to jump on another trend. That trend is most recent to get hyped among millennials. That wearable is the Wrist band, or commonly known as the fitness band.

    After the pandemic refused to go back, people became super conscious of their health. They choose health over anything else and of course life over death. Among the new year resolutions, this segment also saw a jump in sales. Let us see who are the masters in this product segment,

    Top Wristband Companies
    Top Wristband Companies

    Xiaomi undoubtedly rules the Indian wristband industry. The reason is the affordability aspect of their products. Xiaomi bands are easy on the pocket and do most of the work that a fitness tracker does. It has scored decent marks in all the spheres where people want it to perform. This is the biggest reason why Xiaomi alone covers almost 50 percent of all the market share of this product segment.

    Followed by the Chinese Xiaomi, Titan ruled the market with a share of about 16.5 percent which is a subsidiary of Tata. Titan has made its place in people who like a little luxury, they have provided value over the past years consistently to increase customer loyalty. That is the reason why they now cover 16 percent but it has declined from the Q2.

    Then comes the OnePlus, the brand that is originally a startup but has managed to own brand equity and great goodwill. OnePlus is seen as the premium segment of smartphones and wearables. It is the reason why it has seen a jump in market share from quarter 2 to quarter 3.

    The wearables market is not complete if we do not talk about the earwear product segment. Ear Wear products include all ranges of sound devices. It includes headphones, earphones, and everything that has to do with sound. This product segment has also seen immense growth in the recent past. Let us see which brands rule this product segment,

    Top Earwear Companies
    Top Earwear Companies

    Imagine marketing or the famous brand “Boat” is the top player in the earwear industry. The marketing is so smooth and viral that it covers almost about half the total Earwear market (shipment of units). Not only this, Boat has managed to increase the market share from about 45.5 percent in quarter 2 to 48 percent in quarter 3. This proves how people love products from Boat and how it delivers on the value that it stands for.

    Next in the line is Realme, it is also a famous brand but it lags much behind Boat in terms of market share this year. Realme has to work hard to gain more market share next year. Then there is the premium smartphone producer OnePlus that has its Oneplus buds in the market and is quite famous among brand enthusiasts.

    Samsung saw a decline and went from 7.9 percent of market share in quarter 2 to 5.3 percent market share in quarter 3. Ptron became a little famous but the growth seems to be declining for the brand.

    It is to be noted here that even though most of the market is covered by these key players, there is still about 27 percent of the market that is free. That 27 percent of the market is owned by other brands that are not mainstream. This creates enough space for the above-mentioned brands to work harder and poach more market share for themselves.

    Seeing the current trend we can predict that these brands are already fighting for more market share for the bright future in India.

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    Advantages of Wearable Devices

    While they are compact and pocket friendly, they may raise concerns over the effectiveness and efficiency of these gizmos. That is quite a legit question which we will be covering in this paragraph. For example, Smartwatches can help people with Parkinson’s disease track symptoms and then transmit the data to authorities, so that more personalised treatment plans can be developed.

    We will see here how these devices are changing how we track, move and live our everyday life. Read on to remind yourself how useful these apps are.

    Fitness tracking

    Smartwatch
    Smartwatch

    As watches and bands have conquered the market, the most famous purpose for wearables is to track fitness norms. It is however to be noted that we are talking mainly about smartwatches and fitness bands. They help in tracking calories, steps walked, heart rate, blood spo2(Oxygen level) in some pro gizmos and many more. It helps all the fitness freaks stay on track and be honest about their calorie intake. This also helps as a motivator for workout sessions.

    Location and direction

    Smartwatches in these times also have a feature of maps. They can help provide accurate direction and location services, that too without looking at your phone screen again and again. This helps for people who are mostly on road or travelling often.

    Portability (Hands-free)

    The most useful aspect of all the best features is the portability of these devices. Portability is the ability to be portable, that can be taken anywhere without much of a hassle. Whether you are using a truly wireless headphone or a smartwatch, this feature is the prime one that comes in handy. It lets you move freely and you can now do more activity than before.

    Wireless Headphone
    Wireless Headphone

    Here the winners are the headphone segment as wireless is winning every now and then. If you are in a gym, running or doing any physically taxing work then being hands-free or portable feels really helpful. That is why people are forgetting wired earphones or headphones and buying earwear that is wireless.

    Key Challenges in the Wearables Industry

    There are many challenges in this field of technology. We have made it possible for devices to be that small that can be worn but still there is some time left to truly reach a point in time of efficiency.

    There have been notable failures too like that of Google Glasses. With these failures, it raises questions of feasibility in this segment of products. While the future of smart glasses is in an uncertain circle and that too we will have to see by ourselves. There are however more universal problems for smart wearables that have to be constantly tackled to provide value uninterrupted.

    Battery Life

    Due to the compact size of these devices, it is relatively harder to put batteries in there. Thus, they have to rely on smaller batteries that are easily discharged if not taken enough care of. Moreover, as these wearables get smarter and smarter, they get more features than before, which is also a load on the battery. It is not a new issue but an age-old issue with consistency. However, brands are trying their best to tackle this problem.

    Inaccuracy

    This is a highly debated issue but the news and further testing and testing tell us that there can be inaccurate information on your wearable screen. That little compact device may not be able to fully function as the big machine for a purpose. For example blood oxygen data or heartbeats information can be a little inaccurate.

    Sync Issues

    Larger brands with deep pockets don’t have these issues. But however, the market being open and everyone trying to tap the potential in this sector has enabled issues in the working of wearables. A brand like Apple cannot afford to have even a little problem with their devices like its watch series or Airpods.

    Apple Watch
    Apple Watch

    Trying to be like big brands, have led companies to just release stuff without proper user testing. Sometimes, there are syncing issues or irregular syncing with wearables like wireless earphones and smartwatches.

    Data security and privacy issues

    With the internet being the place where now most people live, privacy concerns are at an all-time high. With compact devices all over the place, this has further widened. Moreover, with the presence of China as a key player in the fitness band range, a red alert on privacy can be seen. We are not really sure about how companies use our data, what purpose that data fills and how it can be used in future. Our data ownership is being shared with big corporate technological giants and we have to be cautious of this act.

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    Conclusion

    Technology was in your hands in the form of smartphones, but now it is getting smarter and smaller and has even managed to enter your wardrobe. As devices are getting diverse on the basis of features they provide, they are also turning into something that can be worn. The demand is massive in this sector. These smart wearables can be multi-purpose. The hands-free nature of these devices acts as the prime differentiating factor from other heavy/bulky gadgets.

    They are changing and getting smarter, Microchip implants are now being used to replace keys and passwords. They are placed on your fingertip and the chips use near-field communication (NFC) or radio-frequency identification (RFID). IDC reports forecast good demand generation in the future for their smart compacts. There exists also Indian players like that of ‘GOQII’ in line who are trying to tap this huge potential. Whatever the future holds, one thing is for sure that it is interesting.

    FAQ

    What are the leading brands in the Indian wearables market?

    Noise, BoAt, and Realme are some of the leading brands in the wearables market in India.

    What is the market size of the Indian wearables market?

    India’s wearable market grew 93.8 per cent year-on-year (YoY) in the July-September 2021 quarter.

  • Cannibalization- Why Do Brands Cannibalize Their Existing Products (With Examples)

    Every Business has faced this situation, where there’s depletion in the company’s sales turnover as a new product has been introduced, repercussions affecting the sale of old products in the similar product line.

    In other simple words, generally, Cannibalization refers to eating one species, where the devourer belongs to the same species. Just like that, in the business field, the instigation of modern products is coupling the demand and supply of former products.

    Obviously, people purchase the new launch and totally overlook the old product considering it a banal version of a similar product line, moreover this is prevalent in business.

    For instance, Apple constantly releases a series of iOS to its customers, when the company introduced iPhone 12 Pro, people were enthralled to acquire it and ultimately shut one’s eyes to its previous version-iPhone 12. Thus; Cannibalization engenders no vicissitudes in the company’s sales turnover regarding existing products but gradually accelerates sales growth for the new product.

    What is Cannibalization?
    Effects of Cannibalization
    Why is there a need for Cannibalization in Brands? How they overcome Cannibalization?
    Five examples to state that Cannibalization works for existing products:
    FAQ

    What is Cannibalization?

    Numerous corporations practice Cannibalism in Brands, by discounting existing products to compete with their recent products in the market. As a result, this will bring an augment profit on both existing and new products of the company. Besides, Cannibalization is nothing but a competition between exciting and fresh products of the same brand within the company.

    Effects of Cannibalization

    Just like Newton’s third law: for every action, there is always an equal and opposite reaction. So, when the incorporation did anything, then it would definitely influence the incorporation in terms of sales or production.

    If the company inaugurates a fresh product, say McDonald’s comes up with BTS meals, no wonder the BTS armies are everywhere and BTS meal is hyping up in recent times, albeit the existing food products like Big Mac or McMuffin are receiving derivative fond as customers prefer BTS meal to any other foods in McDonald.

    Therefore; no one holds any reprehensible for the loss of the company’s market share, but itself the company by inaugurating new products as one of the newest versions of its old products.

    Why is there a need for Cannibalization in Brands? How they overcome Cannibalization?

    Cannibalization plays a crucial part in brands; where existing products are overlooked because of the newest product introduction. This will accelerate the demand for new products and decrease the sales of former products of its similar product line.

    Businesses cannibalise their existing or outdated products by employing two ways to meet the same demand of their new product:

    Discount

    Company plans to touts existing products due to cannibalization, by providing discounts on such products in order to compete with the same demand for fresh products.

    For instance; Samsung has launched its new version Samsung Galaxy F22 in July 2021, which overruled its preceding product Samsung Galaxy F12 which came to the market in April 2021.

    What is the company planning to do, provided the former Samsung Galaxy F12 sales slump due to the demand for Samsung Galaxy F22 inflates?.

    Factually, it is apparently evident that people would buy stuff when it is provided at a discount rate. So, the company vents former products at a discount price, where people fall for Samsung Galaxy F12 rather than paying a higher price for its newer version.

    E-commerce

    This pandemic became a beneficiary to e-commerce, where everything is supplied through Amazon, Flipkart or Myntra etc. E-commerce is the best way to captivate customers by generating many offers such as festival offers, Today’s Deals or deal of the day etc. For instance, Amazon recently applied for 26th-27th July Amazon prime Day India by selling products at low prices.

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    Five examples to state that Cannibalization works for existing products

    Cannibalization for existing products can be seen in every company when a new product is launched ranging from low-cost products like school supplies to high-end products like vehicles. The cannibalization of existing products can be proved through these examples.

    iPhones

    Apple introduced iPhones which cannibalized iPods
    Apple introduced iPhones which cannibalized iPods

    Steve Jobs, the founder of Apple in his biography has quoted saying that ”If you don’t cannibalize yourself, someone else will”. And likewise, Apple itself cannibalizes its products.

    The iPhone first model was launched in June 2007. During this period Apple was coveted for its iPods and sales were at a high rate but Apple came out with iPhones that practically had the music feature along with phone services with internet connectivity and media support.

    This led to consumers straying towards iPhones as they were a better substitute for iPods. This product like in the case of iPhones is an example of Self Cannibalization.

    Coke-Zero

    Coke Zero Cannibalized Coke
    Coke Zero Cannibalized Coke

    Coca-Cola, famous for its product Coke and Diet Coke, chipped away at its sales by introducing Coke-Zero targeting the male population that worried about their sugar intake in 2006 in the UK while compensating their total revenue.

    Coca-Cola has also cannibalized itself by introducing Minute Maid, Fanta, etc. and removing coke and its variants as the essential face of the company.

    P&G’s Tide Detergent

    Tide Detergent was introduced to cannibalize P&G's Ivory Soap
    Tide Detergent was introduced to cannibalize P&G’s Ivory Soap

    Procter & Gamble was mainly known as a manufacturer of soap and was known for its Ivory Soap which had drawbacks of its own like dirt wasn’t removed when used with hard water.

    So even with risking cannibalization of their Ivory Soap, the company went ahead and introduced Tide Detergent in 1946 which was the first synthetic detergent that could deep-clean clothing as P&G didn’t want to be cannibalized out of the soap producer industry.

    Maruti Suzuki Alto

    Maruti launched Alto which cannibalized Maruti 800
    Maruti launched Alto which cannibalized Maruti 800

    Maruti Suzuki Alto manufactured by Maruti Suzuki was introduced in 2000. It was the Indian built version of the fifth-generation Suzuki Alto. In 2006, it was India’s largest selling car and by 2008 it had crossed 1 million in terms of production. But this increase in sales was only achieved by eating away the sales of the famous Maruti Suzuki 800. This was done with the help of price cuts and an ad campaign that lured many.

    WeChat

    WeChat was introduced to cannibalize QQ
    WeChat was introduced to cannibalize QQ

    China’s Tencent famously known as the world’s largest gaming company and the most-used internet portal used QQ an online instant message service during the period when desktop computers were the hype.

    QQ failed to meet the standards with the development of smartphones and electronic devices. Therefore Tencent ordered a group of engineers to develop a messaging platform that would cannibalize QQ. Thus, WeChat was developed and released in January 2011.

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    Conclusion

    When human beings, in general, see something better, they essentially want it and feel inadequate with the thing they already possess and an urge to be updated with the upgraded version begins to fester. This is exactly what leads to the cannibalization of products.

    The overlooking of existing products for a new one. If this phenomenon doesn’t work, there wouldn’t be customers for a newly launched product be it smartphones or vehicles.

    Also known as corporate cannibalization of market cannibalization, this phenomenon is also the doom for a company as this nips away the sale of the previously introduced product. Thus proving this phenomenon to be double-edged.

    FAQ

    What is the example of brand cannibalization?

    Coke Zero was introduced by Coca-Cola which chipped away the sales of Coke is one of the famous example of brand cannibalization.

    What is Cannibalization?

    Cannibalization is nothing but a competition between exciting and fresh products of the same brand within the company.

    Why do brands cannibalize their existing products?

    Brands usually cannibalize their existing products to accelerate the demand for new products and decrease the sales of former products of its similar product line.

  • How to become a Business Analyst in 2021 (Complete Guide)

    Any form of business requires a multidimensional approach. It requires coordination between them as well. With the ever increasing globalisation and mechanisation, it is highly important to avoid gaps and discrepancies as far as businesses are concerned.

    This also means that there should be a connection between the IT related nuances and the business related realities. No aspects will work as independent entities any more.

    A Business Analyst is a person who bridges this gap. They are capable of effectively planning and predicting the behaviour of a business model through well informed technical tools that fit the firm.

    Data analytics is considered one of the most important arms of industry 4.0 and its scope in the future is predictable. If you are a science person who loves to be in the corporate world, then business analysis which comes under data analytics is the right choice for you. This emerging high potential job has a few prerequisites and a few steps before becoming one yourself. This article guides you through the details on how to become a Business Analyst in 2021.

    Who is a Business Analyst?
    Skills needed for a Business Analyst
    How to Become a Business Analyst
    Online Certification Courses for Business Analyst
    FAQ

    Who is a Business Analyst?

    Business Analysts are those who engage with large contents of data to derive patterns of occurrences. Their scrutiny will help improve the quality and efficiency of the business firm. They will help in understanding places where there is a performance gap and will suggest a better option to mitigate them.

    They focus on functions and processes of an organisation. As mentioned earlier, they serve as the mediators between technology and commerce. Through data analysis, business analysts become capable of simplifying complicated tasks into simpler ones by giving data driven recommendations.

    They strategically plan things for the company to reduce the chances of failure as much as possible. It requires a deep understanding about both market scenarios and information technology. The four main types of planning that business analysts do are :

    • Strategic planning – Depending on the needs of the company
    • Process design – Planning the flow of procedures
    • Business model analysis – To propose different market approaches and business strategies
    • Systems analysis – Based on the technical requirements

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    Skills needed for a Business Analyst

    Scientific temperament

    You are going to deal with big data and technology which are highly scientific. It demands you to be curious about new things, especially scientific ones. Only if you are able to understand the science of functioning can you identify the problems and recommend a feasible solution.

    Critical Thinking

    It can also be read as analytical thinking. As a business analyst, you serve as a link between information / data and business. In order to derive connections and solutions, one should be able to critically analyse the data available.

    It is because no observations will be implicit and the data analyst in fact has to decipher the problems and solutions from the data. Hence, a business analysts should be capable of critical thinking

    Organisational Skills

    It is important to properly classify the data available to get the best out of it. Although this is mechanically done, it is important to keep track of the data organisation.

    Carelessly organised data can give distorted results which will further affect the analysis. So be sure to develop a habit of organising things right from your own bedroom. Let that be a part of your lifestyle.

    Communication Skills

    Business Analysis is not a job done by a single person. It is not humanly possible also. Hence, many business analysts in a firm come together to discuss and collate their observations to reach a fruitful conclusion.

    To facilitate this, it is very important to have good communication skills. It is not only to put across your observations and inferences but also to absorb the most valuable information from others as well.

    Documentation Skills

    Keeping track of things is one of the most important parts of a Business Analyst’s job. They are to document the variations in the functions and processes of the firm so as to provide appropriate recommendations. Apart from that, such documentation is required for deriving a particular information from a different point of time.

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    How to Become a Business Analyst

    Considering the amount of technicalities behind the work that a business analyst needs to do, it is always better to train yourself professionally. However, the option to self learn is always open. Today you have a lot of courses on the same.

    Undergraduation

    If you are going for an undergraduate degree, go for a Bachelor in Business Administration in fields that you like. Some colleges offer courses in business analytics. But be mindful that it is different from business analysis. However, the fields are related and will definitely help you in your studies.

    During this time, learn more about computer programming as much as you can. Analysing case studies of different kinds will also help you in being a better candidate.

    Higher Education

    You can either go for an MBA which specialises in Business Analytics or allied subjects. Such a programme will really help you in further dwelling into the intricacies of the wide subject and will make you a pro. A postgraduate certificate will definitely aid you in getting good positions.

    Another thing you can do is that many international firms offer specialisation certificates that are widely approved. You can try undergoing their courses and earn your certificates. Some of these certificates are

    • IIBA Entry Certificate in Business Analysis (ECBA)
    • IQBBA Certified Foundation Level Business Analyst (CFLBA)
    • IIBA Certification of Competency in Business Analysis (CCBA)
    • PMI Professional in Business Analysis (PBA)
    • IIBA Agile Analysis Certification (AAC)
    • IIBA Certified Business Analyst Professional (CBAP)
    • IREB Certified Professional for Requirements Engineering (CPRE)

    These courses will help you in getting a senior Business Analyst position.

    Online Certification Courses for Business Analyst

    • The Complete Business Analysis Fundamentals Course + CERT by Udemy
    • Business Analysis and Project Management by Coursera
    • Introduction to Business Analysis Using Spreadsheets by Coursera
    • Excel to MySQL: Analytic Techniques for Business Specialisation by Coursera
    • Business Analysis and Fundamentals by Udemy
    • Business Analyst : Project Management Techniques and Tools by Udemy
    • Business Analysis Modelling Skills and Techniques by Udemy
    • Business and Data Analytic Skills by Edx
    • Business Analysis: Developing Requirements by Udemy

    FAQ

    What is the main role of a business analyst?

    Business Analyst bridge the gap between IT and business using data analytics to data-driven deliver reports to executives.

    What qualifications do I need to be a business analyst?

    You require an Undergraduate degree in computer science, business information systems, computing and systems development, and business management.

    How much does a a Business Analyst in India make?

    The average salary for Business Analyst in India is ₹7,00,000 per year.

  • Burger King – Branding & Marketing strategy [Case Study]

    Burger King is a very familiar name to Indians and even the whole world. This chain of hamburger fast food restaurants that operates in many countries have their headquarters in Florida. Burger King was launched in 1953 as Insta – Burger King. It was a Jacksonville, Florida-based restaurant chain. After the business ran into financial problems two of their Miami-based franchisees James McLamore and David Edgerton bought the company in 1954 and renamed it as “Burger King”.

    From then on Burger King has had four different owners till the next 50 years. During this bumpy ride it has had its own highs and lows where in the 1970s were known as the golden age as far as the Burger King was concerned.

    The growth of Burger King is something that all of us should closely study. From offering a basic menu of burgers, sodas, milkshakes and French fries, today it has an extremely elaborate menu with the Whopper being the first major addition in 1957.

    Since then they have continued to incorporate more and more dishes into the menu, some of them being successful and others not. Today they have 11 million guests every day across the world. It has become the world’s second-largest fast-food hamburger chain. They have an estimated 13,000 outlets in more than 79 countries across the globe. Out of these 66% of the outlets are situated in the US with nearly 99% of them being owned and operated privately.

    Their commitment to providing the best recipes, premium ingredients and cordial dining experience is what they claim to be the secret of their success in the last 50 years. This article will look at their branding and marketing strategy which is keeping them at the top throughout thick and thin.

    Rebranding of Burger King
    Burger King Campaigns that Changed the Game
    Burger King’s Advertisement Strategy
    Burger King’s Concern for Humanity
    FAQ

    Rebranding of Burger King

    Burger King as mentioned earlier was and still is one of the most famous fast-food chains in the world. It was rebranded after 20 years in 2020 with the revamped logo, unique uniforms and innovative packaging which were designed by Johns Knowles Ritchie – a creative agency. The one thing that they have done differently here is that they were constantly going back to their roots.

    With regard to the change in the logo as well they were in fact paying homage to the heritage of the brand. And they hope that this redefined design will be indicative of the confident, funny and simple firm that they are.

    Burger King Old vs New Logo
    Burger King Old vs New Logo

    Their simple rebranding techniques like the new logo, packaging that has the item names written onto it, the font of their text are well thought and researched decisions.

    Burger King new Packaging
    Burger King new Packaging

    They are aware that nobody is in fact looking forward to anybody’s campaigns and what they have to do is to pitch in their product amidst the things that people are doing. For this creativity is a very important factor and Burger King emphasises this like nobody else.

    Burger King Campaigns that Changed the Game

    If you have noticed all of their campaigns the one thing that they try to project is the credibility of the firm. They try to put it across to people that Burger King cares about its customers. For example, their award-winning advertisement in 2020 which was the “Moldy Whopper” campaign garnered a lot of attention across the globe.

    The idea was to prove to its customers that their food does not contain any preservatives. In this case, they took advantage of the very popular secret which accuses McDonald’s of their eternal burgers.

    Burger King really knows how to make use of the competition in the industry for their advantage. For example, there was another campaign titled ‘Whopper Detour’ that gave its customers their signature “Whopper” for one cent when they reach within 600 feet of any McDonald’s location.

    The campaign was such a hit that there were over 4 million downloads within October and December 2019. Exactly what they wanted. They not only took advantage of their competition but were also very quick to adapt to any kind of challenges, even the pandemic.

    When Covid 19 struck all industries, Burger King did not wait even a minute to launch their touchless technology in its restaurants.

    Burger King Touchless Technology Restaurants
    Burger King Touchless Technology Restaurants

    Another was a very daring step where they released an open request to McDonald’s asking for a collaboration of both of their dishes. As expected McDonald’s turned down their offer. But Burger King had nothing to lose and everything went as planned. As the news spread the sale of the company increased manifold times during that time.

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    Burger King’s Advertisement Strategy

    Burger King is not just concerned about the kind of advertisements and campaigns that they launch, they are also very careful about where these advertisements go. They concentrate immensely on local advertising such as roadside ads, hoardings, billboards etc.

    Burger King Billboard
    Burger King Billboard

    They make sure that each and every initiative that they plan for the customers are out there in public right in front of them. This is a brilliant way to encourage local customers to visit Burger King without even them realising that.

    They also ensure that the menu and all other possible details are appropriated to fit into the local desires and likings of the people. They have a highly differentiated targeting strategy to address the locally specific needs of the company.

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    Burger King’s Concern for Humanity

    Burger King has also contributed towards improving the plight of people who are not privileged. They have launched various campaigns in this regard which have also led to their popularity.

    “Have it your way foundation “ is one such campaign that mainly focuses on preventing diseases and eradicating hunger from every household. Their utmost care for people around them was widely appreciated.

    Along with it came the “McLamore Foundation” which gives scholarships to students who are interested and are also deserving. These campaigns have definitely added to the human side of the company which has also immensely helped in maintaining and even escalating its brand image.

    Conclusion

    There is no doubt about the increasing competition in the fast-food market at national and international levels. Despite that Burger King has successfully placed itself at the top of the market by being the second largest. Careful product placement, efficient advertisement, excellent customer relations and explicit humanitarian concerns are the main reasons why Burger King has been able to maintain its position in the last 50 years.

    If there is one thing that we can learn from Burger King’s marketing and branding strategy, it would be creativity and consistency.

    FAQ

    Who is the CMO of Burger King?

    Ellie Doty is the Chief Marketing Officer of Burger King.

    What is Burger King’s new slogan?

    The new slogan unveiled by Burger King is “Be Your Way”.

    Who is the founder of Burger King?

    Burger King was founded by James McLamore, David Edgerton in 1954.

  • Is Ethereum a good investment? – Everything you should know about Ethereum

    A cryptocurrency is a digital or virtual currency protected by encryption, making counterfeiting and double-spending practically impossible. Many cryptocurrencies are built on blockchain technology, which is a distributed ledger enforced by a network of computers.

    Ethereum is the second most demanded cryptocurrency after Bitcoin. Ethereum is a blockchain-based open-source platform for developing and sharing corporate, financial, and entertainment applications. To utilize dapps, Ethereum users must pay a charge. Its cryptocurrency is now only second to Bitcoin in terms of market capitalization.

    Well, we’ll have to delve a little further to learn more about Ethereum as a cryptocurrency and its algorithms. Let’s hop into this.

    What is Ethereum?
    Ethereum’s Brief History
    What Is the Function of Ethereum?
    What is Ethereum’s purpose?
    What are the benefits of Ethereum smart contracts?
    Is it the right time now to invest in Ethereum?
    Benefits and Drawbacks of Ethereum
    FAQ

    What is Ethereum?

    Ethereum is a decentralized, open source, and distributed computing platform that allows smart contracts and decentralized applications, or dapps, to be created.

    Vitalik Buterin, a programmer, proposed Ethereum in 2013. The network went live with an initial quantity of 72 million coins on July 30, 2015, after development was crowdfunded in 2014. Developers can utilize the platform to create and run decentralized applications that users can engage with.

    Decentralized finance (DeFi) applications allow cryptocurrency users to borrow against their holdings or lend them out for interest without the need for traditional financial intermediaries like brokerages, exchanges, and banks.

    Ethereum’s Brief History

    A review of Ethereum’s historical upgrades and hard splits, with an eye toward the future.

    From the vantage point of a bird’s eye view, blockchain technology is relatively new. Though the fundamental principles (cryptography, decentralization, peer-to-peer networking, and transaction) had been studied for decades, it wasn’t until the release of Bitcoin in 2008 that all of those components could be reliably seen as having come together to create a practical product.

    Only since 2015 has Ethereum been available in a useful, public format. Despite the fact that the dates and specifications of its planned evolution have changed, Ethereum has remained committed to upgrading the protocol on a regular basis to ensure increased usability, security, functionality, and decentralization.

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    What Is the Function of Ethereum?

    Ethereum is based on a blockchain network, just like all other cryptocurrencies. All transactions are verified and recorded on a blockchain, which is a decentralized, distributed public ledger.

    It’s decentralized in the sense that the network isn’t run or maintained by a single entity, but rather by all of the distributed ledger owners.

    To make the network safe and validate transactions, blockchain transactions require encryption. People use computers to “mine” or solve difficult mathematical equations, which confirm each transaction on the network and add new blocks to the blockchain, which is at its core. Cryptocurrency tokens are given to participants as a prize. These coins are known as Ether in the Ethereum system (ETH).

    Ether is a digital currency that can be used to purchase and trade goods and services. It has also seen dramatic price increases in recent years, thereby making it a speculative investment. However, Ethereum is unique, in that it allows users to create apps that “run” on the blockchain in the same way that software “runs” on a computer. Personal data can be stored and transferred, and sophisticated financial transactions can be handled with these programs.

    What is Ethereum’s purpose?

    Ethereum, the world’s second-largest cryptocurrency by market capitalization, was founded in 2013 with the express purpose of facilitating the creation of smart contracts. It is currently the most widely used platform for doing so.

    Outside of Ethereum, smart contracts aren’t commonly used, and some are doubtful that they’ll ever become ubiquitous as a mechanism to manage transactions. Proponents of Ethereum, on the other hand, hope that it will eventually become the standard for executing and safeguarding online connections.

    Hundreds of smart contract-enabled apps have already been released. Smart contracts are at the heart of popular Ethereum apps MakerDAO and Compound, which allow users to earn interest by lending money.

    A smart contract is exactly what it sounds like: it’s a self-executing, programmed agreement that’s stored on the Ethereum blockchain. It works on the basis of an if-then logic, which states that if x happens, then y happens. The Ethereum Foundation has a helpful definition:

    Smart contracts are apps that execute exactly as they are programmed, with no downtime, censorship, fraud, or third-party interference.

    Let’s take a look about what this means:

    Downtime: There is no downtime because the programs never shut down suddenly and cannot be turned off.

    Censorship: Ethereum nodes (computers that run the protocol) are scattered all over the world, censorship is no longer an issue.

    Fraud: The contract can’t be altered, hacked, or manipulated in any way.

    Third parties: The contract self-executes, there is no need for an intermediary.

    Value of Ethereum
    Value of Ethereum

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    What are the benefits of Ethereum smart contracts?

    Although they(Bitcoin) are incredibly limited in comparison to Ethereum. Bitcoin, the world’s first cryptocurrency, was the first to implement rudimentary smart contracts key Because the network will only authorize transactions if specific requirements are met, such as the user providing a digital signature showing that they own the bitcoin they claim to own, each transaction is a smart contract. A digital signature can only be created by the owner of a Bitcoin private key.

    Ethereum, on the other hand, substitutes Bitcoin’s more restrictive vocabulary with code that allows developers to use the blockchain to execute transactions other than cryptocurrency. The language is “Turing-complete,” which means it can handle a wider range of computations. Programmers are free to create almost any smart contract they can imagine.

    Is it a good time now to invest in Ethereum?

    Bitcoin is the big name in town when it comes to cryptocurrencies. However, Ethereum has had a fantastic year. Ethereum’s price has increased by 435 percent since the beginning of the year. It has climbed by more than 1,700 percent in the last year. By comparison, the price of Bitcoin has climbed by about 100% this year and 518 percent in the last 12 months.

    To begin, it’s critical to understand the distinction between Ethereum and Ether. Ether is a cryptocurrency that works similarly to Bitcoin. Ether is based on Ethereum, a blockchain technology. Either and Bitcoin have a lot in common. Both are digital currencies that may be used to make purchases. You may invest in Ether directly, just like Bitcoin, by purchasing coins. However, Ether is substantially less expensive than Bitcoin.

    It’s also feasible to put money into the Ethereum platform. Some of your choices should be:

    1. Investing directly in Ether,
    2. Purchasing specific stocks,
    3. Investing in a professionally managed fund.

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    Benefits and Drawbacks of Ethereum

    Ethereum is a widely utilised technology with a wide range of uses. However, before you invest, you should be aware of the benefits and drawbacks.

    Talking into the account benefits:

    1. The Ethereum blockchain’s versatility is one of its most appealing features. While it is best recognised for hosting the cryptocurrency Ether.

    2. To put it another way, it has uses outside of the bitcoin industry. Ethereum might be used in a variety of ways even if cryptocurrency as a whole fails in the long term.

    3. Furthermore, one of the most common criticisms about cryptocurrencies, particularly Bitcoin, is how energy-intensive it is. Ethereum, on the other hand, aspires to be more eco-friendly. This might provide Ethereum an edge over Bitcoin, particularly among eco-conscious investors.

    4. Additionally, as the Ethereum network evolves, some Ether coins may be lost in the process. However, a reduced supply of Ether might make it more valuable and drive up its price, which might be beneficial to investors.

    Recognizing the dangers:

    1. Investing in Ethereum and Ether comes with dangers, despite its flexibility and vast range of applications.

    2. For one thing, if you invest directly in Ether, you’ll almost certainly see tremendous volatility. Furthermore, new rules and regulations could jeopardise Ethereum’s future.

    Conclusion

    Consider your risk tolerance before investing in Ethereum. Would you be able to sleep at night if the value of your investment dropped by 20%? What about a 50% discount? Ethereum is a risky investment, so be sure you’re ready to take it on before you invest.

    Finally, if you decide to invest in Ethereum, make sure your strategy is quite good, and only invest money you can afford to lose. You can reduce your risk if Ethereum takes a turn for the worst by investing the majority of your money in safer investments.

    Ethereum may turn out to be a wise investment, but it isn’t for everyone. Consider the benefits and drawbacks, as well as your own risk tolerance. Whether you decide to invest or not, make sure you’re making an informed decision.

    FAQ

    Who founded Ethereum?

    Vitalik Buterin is the creator of Ethereum, the blockchain platform that acts as a world computer for decentralized applications.

    Who is the richest Cryptocurrency owner?

    Brian Armstrong is the richest Cryptocurrency owner who has a net worth of US $ 6.5 billion. He is the founder and CEO of crypto exchange Coinbase.

    What will Ethereum be worth in 2030?

    As per CoinPrice Ethereum will hit a whopping $5,000 (£3,598.75) by the end of 2030.

  • How did Barbeque nation witnessed profit even during the Pandemic

    The Casual dining chain Barbeque Nation had posted a profit in the quarterly earnings. The restaurant chain is well known for its buffet business model which focuses completely on dine-in. Let’s look at how Barbeque Nation managed to increase its profit amidst the pandemic and lockdown in the major cities across India.

    Barbeque Nation – Latest News
    Reason Why Barbeque nation witnessed profit even during the pandemic
    How did Barbeque nation survived during the pandemic
    FAQ

    Barbeque Nation – Latest News

    On 24 May 2021, Barbeque Nation had projected a profit of INR 6.1 crore for the March quarter when compared to a loss of INR 27 crore in the previous year. There was a 19 % increase in the revenue from operations of the company which amounted to INR 190 crore.

    The operating profit or the EBITDA of the company had seen a year on year increase of 128 % with margins of 24.8 % which stood at INR 56 crore. The important point to be noted is that the chain’s delivery revenue had seen an increase of 471 % which amounted to INR 28.5 crore.

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    Reason Why Barbeque nation witnessed profit even during the pandemic

    The Barbeque-Nation Hospitality has developed an integrated digital ecosystem which had proved to be beneficial during the pandemic. The company has been able to widen its reach and capture new customers as they have invested in their delivery with their dine-in business model.

    The company had focused on continuously investing into the digital platforms of their business which provided the firm with an additional revenue source. The company’s own digital asset contributions had provided a revenue of 24.7 % and the delivery business has grown 6 times compared to the previous year.

    Yearly Net sales of BARBEQUE-NATION HOSPITALITY LTD
    Yearly Net sales of BARBEQUE-NATION HOSPITALITY LTD

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    How did Barbeque nation survived during the pandemic

    The managing director of Barbeque Nation Hospitality Kayum Dhanani had conveyed that this year has been challenging for the restaurant chain due to the lockdown in many cities but they have adapted to the lockdown and restrictions by introducing a new product called Barbeque in a box.

    He said that the product was introduced keeping in mind the pandemic and the lockdown. He added that this could become a successful product as they have a strong digital presence in their own app as well as third party websites and operators.

    The CEO of the company had commented that amidst the lockdown and the pandemic restrictions Barbeque Nation has emerged to come out of the difficulties faced. He added that as the restrictions have been reduced and the stores being opened there have been customers coming into the outlets as well as the delivery of products going on hand in hand.

    He added that the restaurant chain would focus on building the delivery business and it is expected to grow double by the end of 2022.

    FAQ

    Who is the CEO of Barbeque Nation?

    Rahul Agrawal is the CEO of Barbeque Nation.

    Who is the owner of Barbeque Nation?

    Kayum Dhanani is the owner of Barbeque Nation.

    Is Barbeque Nation an Indian company?

    Yes, Barbeque Nation is an Indian company.

    Conclusion

    Barbeque Nation is planning to continue its position as a casual dining and delivery business with cost optimization, growth in delivery segment, strong cash flow segment and market penetration strategy. The top priority of the company is to provide maintain employee wellbeing and the safest environment for the guests.

  • Jio to soon Enter Laptop Industry with its Reliance Jio Laptop – Jiobook

    Jio is the largest telecom operator in India and is the third-largest operator in the world. During the year 2020, the company had raised an amount of INR 1,52,056 crores by selling their stake of around 32.97%. This helped the company in coming up with new products and making the services affordable to the consumers.

    The company is said to launch its new product JioBook. After years of speculation, it is believed that the product is in the Engineering Validation test stage.

    What is JioBook
    Specs of JioBook laptop
    Reason for Launch
    FAQ

    What is JioBook

    JioBook is a laptop going to be launched by Reliance Jio. Just like any other product of Jio, this laptop is said to be affordable and would attract a lot of customers. As per the speculations the price of the laptop would start from INR 10,000 onwards.

    In order to make affordable JioBook laptops in India, the company had partnered with Bluebank Communication Technology which is based in China. Bluebank Communication technology is a well-known software company that develops software for third parties and creates mobile devices. Bluebank has also worked in developing the popular OS used on Jio Phones which is known as KaiOS.

    The news of Jio launching the laptop came out in 2018, when Qualcomm announced that it was in talks with Reliance Jio to launch laptops in India that are affordable with cellular connectivity. After that, there were lot of speculations about the launch of the laptop. After years of wait, Jio finally announced that they will be launching their laptops soon in the market.

    It has also been said that the price range of the JioBook laptop would differ according to their storage options and different models.

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    Specs of JioBook laptop

    According to the reports JioBook laptop is expected to be an android based laptop  by XDA developers. The android operating system UI will be called JioOS. The laptop will run on a Qualcomm Snapdragon 665 chipset with the support of Snapdragon X12.

    JioBook laptop is said to support 4G LTE and would have a display of 720P HD. The laptop is said to have a screen resolution of 1366 x 768. It will run on the JioOS.

    The JioBook laptop would come with a storage facility of 32/64 GB with an eMMC (embedded Multi-Media Card) 5.1 memory. It is an internal storage card used in portable devices. Apart from all these features, the laptop would have features that include Bluetooth, Wi-Fi 2.4 and 5 GHz connectivity, and so on.

    The laptop will come with all Jio-apps installed to ensure that JioBook is affordable to consumers.

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    Why Jio is launching Jiobook

    JioBook laptops would be the most affordable laptop ever introduced in the country. Earlier Jio had introduced JioPhones which disrupted the entire industry. Since the launch of Jio sim in 2016 the company has been trying to come up with affordable products.

    In the beginning stages, Jio sims were given for free with free internet access and unlimited calls and now Jio sim has the greatest number of subscribers in the telecom industry. Reliance Jio has the majority market share in the telecom industry with over 35.7% and 404.12 million users.

    Telecom Subscriber Market Share
    Telecom Subscriber Market Share 

    The low-cost JioPhone which was launched later on helped millions of users to shift to 4G from their 2G enabled phones. Reliance Jio provided JioPhones for INR 1,500 with an inbuilt OS system which helped the users use Facebook, Google and a lot of other apps.

    According to the reports from Reliance Jio, in just a span of 2 years, they had sold around 70 million JioPhones.

    One of the other reasons why consumers choose Jio is its offers provided such as subscriptions to OTT platforms, cashback, etc. Buyers who bought JioPhone early were provided free voice calls and 4G data for a year.

    Jio is trying to use the same strategy used in JioPhones and Jio sims with the plans to launch JioBook. The company will try to capture the laptop industry with the launch of its JioBook laptop.

    FAQ

    What will be the Specs of JioBook laptop?

    JioBook laptop will come with a storage facility of 32/64 GB with an eMMC (embedded Multi-Media Card) 5.1 memory, with support of 4G LTE and a display of 720P HD.

    What is the expected price of JioBook laptop?

    The expected price of JioBook laptop is 10,000.

    When will JioBook laptop be launched?

    JioBook laptop will may be launched at the Reliance Annual General Meeting likely to be held in July 2021.

    Conclusion

    Jio has announced a lot of other products which include Jio Glass for video call with the support of holographic. Jio is also planning for an affordable android phones which will be priced at the range of INR 4,000. The android phone will be manufactured with the partnership with Google.

    The company has received a lot of funding last year from the biggest companies around the world. This has led Jio to overcome the major hurdles in the Industry making it the leading company in India. JioBook laptops are expected to launch soon. However, there have not been any official announcements regarding the launch of the laptops. The announcement is expected to be during the next Annual General Meeting of the company.

  • Sigmetic – Startup that lets you Explore the Trends of your Software Team!

    In the world of modern software development, the expectations of the software products we use are getting increasingly higher, and the demands on the team’s software development process are increasing proportionally.

    In a world where distributed teams and remote work is here to stay, it is also of crucial importance to keep the development cycle open, transparent, and allowing more close collaboration on the team.

    Teams seem to struggle with the same recurring issues: Code reviews that are taking forever, PRs that cannot get merged due to missing dependencies from other branches, an almost grotesque meantime to restore a bug and a missing overview of the lead time it takes to ship a new feature. These issues are exactly what inspired Simon to create Sigmetic.io to gain insight into these processes. Because, essentially, that is the only way we can start improving!

    Sigmetic – Company Highlights

    Startup Name Sigmetic
    Headquarter Copenhagen
    Sector Technology
    Founder Simon Høiberg
    Founded 2020
    Legal Name Silind Software ApS
    Website sigmetic.io
    Contact contact@sigmetic.io

    About Sigmetic and How it Works
    Sigmetic – Target Market Size
    How was Sigmetic Started?
    Sigmetic – Product/Services
    Founders of Sigmetic and team
    Sigmetic – Startup Launch
    Sigmetic – Startup Challenges

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    About Sigmetic and How it Works

    Sigmetic is a toolkit for the data-driven software team. It collects data from your GitHub organization and provides a full picture of the habits and trends in your team by exposing various KPI metrics from the team’s performance. The founder believes that continuous improvement starts with insight.

    Sigmetic
    Sigmetic

    We already have a series of useful tools for monitoring the performance of our servers and infrastructure, but if we really want to secure the quality of the products we ship, we need to start applying the same effort on monitoring the team’s development processes. That’s what Sigmetic is all about!

    Sigmetic – Target Market Size

    Sigmetic is in the industry somewhere between a productivity tool and an analytics tool. We mostly consider this a productivity tool for development teams, and according to BusinessWire, “the business productivity software market is expected to register a CAGR of 12.6% during the forecast period 2019-2024.”

    We believe that analytics tools used for team behavior and performance will have a significant role in the future. With the rise of Machine Learning, we also believe that performance prediction and estimates will be impactful – an area where we see Sigmetic fit in the future.

    How was Sigmetic Started?

    In Simon’s career as a freelance consultant, he noticed how teams seem to struggle with the same recurring issues: Code reviews that are taking forever, PRs that cannot get merged due to missing dependencies from other branches, an almost grotesque meantime to restore a bug and a missing overview of the lead time it takes to ship a new feature.

    Simon initially spoke with the managers that he was working with at the time, and they were thrilled about the idea. They had but one important request – the ability to embed the KPIs on their already existing dashboards. After talking to managers in other companies, there seemed to be a general interest in the idea, and the ability to easily embed the KPIs seemed to be a shared request as well.

    The initial research was overly qualitative and feedback only came from a small set of managers from companies that Simon Høiberg, founder of Sigmetic, had worked with earlier.

    He created 3 prototypes of embeddable KPI Widgets and created a landing page. He also added the ability to sign up for early access, offering a forever-free-account. The landing page went public and Sigmetic got a lot of interest and sign-ups.

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    Sigmetic – Product/Services

    The building blocks that make up Sigmetic, are the various KPI Widgets that you find in the Widget Library. You can use these widgets to compose your own dashboards exactly the way it makes sense to you and your team.

    Sigmetic Dashboard
    Sigmetic Dashboard

    Sigmetic connects to your GitHub account and collects data from the developer behavior. This enables you to visualize metrics such as commit trends, issue burnup, meantime to review, and much more. It provides a full picture of the habits and trends in your team, but it also enables you to narrow in on the potential bottlenecks that may hold your team back.

    “I guess we pivoted very slightly from the initial idea of Sigmetic, which was more oriented about performance – today, Sigmetic focuses more on trends and behavior”, says Simon, owner of Sigmetic.

    Founders of Sigmetic and team

    Simon Høiberg is the founder and CEO of Sigmetic.

    Simon Høiberg with graphic designer/UX consultant that's been a part of Sigmetic
    Simon Høiberg with graphic designer/UX consultant that’s been a part of Sigmetic

    He has two permanent consultants that are involved on a freelance basis. But they are not a core part of the team, per say.

    Sigmetic – Startup Launch

    Sigmetic’s primary channel of communication and marketing has been Twitter. The startup runs ads through its ad-program, but the biggest source of acquisition has been through content marketing.

    I’m deeply passionate about open-source, so we have open-sourced one of the most essential parts of the technology stack, Direflow, which is used to create embeddable micro-frontends, says Simon, founder of Sigmetic.

    Direflow was started just before the development of Sigmetic and has been a part of the very first prototype. Additionally, they’ve published blogs about how they build various parts of the platform, and – in general – been very generous with sharing as much as they can. That part has been the biggest lead-generator, by far.

    Also read: How to Do Competitors Analysis for The Website?

    Sigmetic – Startup Challenges

    Getting proper feedback, in the beginning, was surprisingly difficult! A lot of users were keen on signing up before the initial launch, and a lot of users immediately churned without leaving any kind of comment or feedback. When reaching out on email, users were mostly unresponsive.

    The team implemented a chat directly in the application that would forward the message to a designated Slack channel. That helped a lot. They also benefited from channels such as Reddit’s startup for finding beta-testers. But generally speaking, getting people into a conversation was a huge challenge.