Samsung’s local subsidiary is planning to open 15 premium experience stores in nine markets as a result of increased demand for high-end mobile phones, refrigerators, and washing machines in the nation’s most populous cities.
Through a network of 1,700 brand stores run by its franchise partners, Samsung already sells its products. The entire product line for the brand is typically sold in these stores. This is in addition to selling its electronic products through big multi-brand electronic chains, little shops, and online shopping websites.
After the business reported increased demand for such electronics, it began opening sizable experience stores with its more expensive products in 2018. After COVID, there was an increase in demand for high-end smartphones and home appliances, which prompted the company to grow its network of experience stores.
“Just about pre-covid we started seeing the purchasing power of consumers go up, from a lifestyle perspective and also from the tech perspective, consumer needs are evolving. As a result, we started seeing a radical shift towards premium products,” Sumit Walia, Senior Director, D2C Business, Samsung India.
As consumers upgraded to better appliances, sales of premium goods at the company’s 1,700 brand stores more than doubled between 2019 and 2021. Overall, as people spent more time indoors and used their electronic devices more frequently, consumers moved to purchase expensive smartphones, large-screen televisions, and other devices.
Large capacity refrigerators, washing machines with cutting-edge features, or smartphones costing more than 30,000 are examples of premium goods.
“Pre-covid, we were seeing 32–33% of goods sold via our brand shop that were premium. Cut to 2021-2022, this number doubled; from 32–33% we’ve got nearly 60-65% customers looking for premium products in our brand shops,” he said. “We were actually not expecting such kind of acceleration on the premium side—post covid lifestyles have changed, expectations of having home automation, more connected devices has increased,” he added.
Samsung currently runs two such stores in India, one each in Bengaluru and New Delhi. By the end of this year, new stores run by the company’s franchise partners will open in a number of cities, including Mumbai, Pune, Chennai, Ahmedabad, and Chandigarh.
In Connaught Place, New Delhi, Samsung India opened its largest premium experience store in North India in January.
Through areas like connected living, smartphones, audio, gaming, lifestyle screens, and wearables, among others, the experience store essentially showcases Samsung’s entire product ecosystem, showcasing its multi-device connectivity with SmartThings. Walia claimed that younger customers and those seeking to replace current appliances are drawn to the idea.
For instance, the shop in Connaught Place spans two floors and 3,500 square feet. After Samsung renovated the Samsung Opera House Bengaluru store, which is now home to a Starbucks coffee shop, the Connaught Place store opened.
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