Retail News CRM

Author: Mei Ling Tan

  • Mulberry Launches on Alibaba Group’s Tmall Luxury Pavilion

    Mulberry Launches on Alibaba Group’s Tmall Luxury Pavilion

    British luxury brand Mulberry is excited to announce the launch of its brand f lagship on Tmall’s Luxury Pavilion – Alibaba Group’s dedicated platform for premium brands. This launch is an important step in Mulberry’s strategy to develop the brand presence in China, providing access to a substantial local customer base through the world’s second largest online retailer.

    Following the creation of new owned subsidiaries in China, Hong Kong, Taiwan, Japan and Korea during the last two years, Mulberry is now focusing on developing its omni-channel and digital distribution in the region.

    Launched in 2017, the Tmall Luxury Pavilion creates a new type of e-commerce which looks to replicate the same feeling of brand exclusivity and personalised shopping experience that luxury consumers have become accustomed to having when shopping in physical stores.

    The Mulberry Tmall f lagship store features a wide selection of the brand’s iconic leather goods, luggage, soft accessories, footwear and jewellery.

    The official launch week coincided with Lunar New Year and saw Mulberry offer an exclusive Year of the Pig capsule collection through the Tmall Luxury Pavilion. The range featured some of the brand’s most popular bag silhouettes rendered in Scarlet Croc Print leather and accessorised with a bespoke bag scarf designed by Chinese artist Li Rui.

    “Launching the Mulberry flagship on Tmall’s Luxury Pavilion is an important step in growing our Chinese customer base and further developing the brand in key international markets.”- Thierry Andretta, Mulberry CEO.

    We are really excited to have an iconic British brand like Mulberry joining the Luxury Pavilion stable,” said Jessica Liu, president of Tmall Fashion and Luxury. “Since its launch in 2017, Luxury Pavilion has been committed to provide consumers in China with the finest and curated selection of premium products from the best luxury brands in the world, designing at the same time a unique

    and immersive shopping experience for them. Our partnership with Mulberry represents an important enrichment of our offering and we look forward to working with them while they expand in China”.

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  • Grand Opening of Centara West Bay Residences & Suites Doha

    Grand Opening of Centara West Bay Residences & Suites Doha

    Centara Hotels & Resorts, Thailand’s leading hotel operator, has celebrated the grand opening of its dramatic new waterfront hotel in Doha, introducing the company’s elegant Thai hospitality to the State of Qatar for the first time.

    The 265-key Centara West Bay Residences & Suites Doha is a striking new hotel located in the city’s West Bay district, which is home to many of downtown Doha’s most stunning skyscrapers. Overlooking the Arabian Gulf, the hotel is just moments away from the lively Doha Corniche and 25-minutes’ drive from Qatar’s Hamad International Airport.

    The launch of this new landmark marks a major milestone for Centara, as the company continues to expand its international footprint. One of the Middle East’s most eagerly-anticipated new hotels, Centara West Bay Residences & Suites Doha harmoniously blends luxurious interiors and facilities with the timeless charm of Thai hospitality, while also showcasing authentic Qatari culture.

    The grand opening event featured traditional Thai and Qatari performances, including a falconry show, plus executive speeches, a ribbon-cutting ceremony and VIP dinner created by Michelin starred chef, Alfred Prasad.

    “Doha is one of the most dynamic destinations in the world today, and we are delighted to enter this important market with such a spectacular new hotel. Centara West Bay Residences & Suites Doha is an iconic addition to the city’s skyline. With spacious accommodation, luxurious facilities and gracious Thai service, this hotel will cater for all types of guest, from leisure visitors and large family groups to long-stay business travellers. We look forward to welcoming all guests to Doha in the future, as the city embarks on an exciting new era of international prominence and prosperity,” commented Thirayuth Chirathivat, Chief Executive Office, Centara Hotels and Resorts.

    Guests have a choice of stylish and spacious accommodation, comprising studios, suites, one- to three-bedroom apartments and four-bedroom penthouses, all featuring floor-to-ceiling windows with breath-taking views of the Gulf. Residences range in size from a generous 45 square metres to an opulent 365 square metres and come fully equipped with comfortable bedrooms, separate living and dining areas, kitchens, and cutting-edge technology, including Smart TVs.

    Centara West Bay Residences & Suites Doha features a collection of contemporary F&B outlets, including Caprice, a café-inspired restaurant showcasing exquisite Thai cuisine and international fare; Dalchini, which promises progressive Indian from creative Chef Alfred Prasad cuisine; plus a chic Lobby Lounge and a refreshing Pool Bar. In-room dining is also available and residences have their own cooking and dining facilities.

    There are many opportunities for relaxation, including an indoor pool with panoramic views of the Gulf, a spacious fitness centre and aerobics studio. There is also a kids’ club and children’s pool for younger guests, plus a gift shop, prayer room and two flexible meeting rooms.

    A key cultural and economic hub for the entire Middle East region, Doha is home to a wealth of cultural attractions including the historic Souq Waqif market, Museum of Islamic Art and State Grand Mosque, plus major shopping malls and soft sandy beaches. It is also rapidly emerging as a global sporting destination, hosting the annual season-opening Qatar Open tennis tournament, the 2019 IAAF World Athletics Championships and of course, the 2022 FIFA World Cup.

    The Middle East is a key strategic part of Centara’s five-year development plan, which aims to double the company’s global portfolio of hotels and resorts by 2022. Centara Muscat Hotel opened in 2017, and following this week’s grand opening of Centara West Bay Residences & Suites Doha, the group further plans to launch Centara Grand Hotel Doha in the first half of 2020.

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  • AEON gives hefty prizes for the lucky winners of the “AEON Happy Pay” campaign

    AEON gives hefty prizes for the lucky winners of the “AEON Happy Pay” campaign

    Recently, Ms. Saranya Pipoppinyo (5th from left), Vice President Marketing of AEON Thana Sinsap (Thailand) Public Company Limited awarded prizes to the lucky winners of the “AEON Happy Pay” campaign. The grand giveaway comprises of three prizes of gold bars, worth 100,000 baht each, the second is 20 prizes of 50 satang gold necklaces and the third is 100 vouchers with a combined value of 586,500 baht.  Eligible participants include AEON Your Cash customers that make an installment payment at participating department stores and shops from 30 August – 30 November, 2018.

     

  • Abercrombie & Fitch sales continue to climb

    Abercrombie & Fitch sales continue to climb

    Abercrombie & Fitch sales rose for the second consecutive year as its restructure and new store format begins to pay off. Comparable sales rose by 3 per cent in the year to February 2, to US$3.6 billion and operating income, after excluding extraordinary items, was $138.6 million compared to $100.8 million last year. However fourth-quarter sales fell by 3 per cent.

    CEO Fran Horowitz said the fashion retailer achieved an improvement in gross profit and reduced operating expenses, resulting in a 77-per-cent improvement in net income.

    “We continue to keep the customer at the centre of everything we do and are excited about the future of our brands. Our transformation initiatives are gaining traction and keeping us on track to deliver our previously disclosed fiscal 2020 targets.”

    Neil Saunders, MD of GlobalData Retail, said while the sales decline during the fourth quarter looks poor on the surface, the dip is a function of a calendar shift and a shorter trading period compared to last year.

    “The comparable Abercrombie & Fitch sales figure, which strips out these negative influences, provides a more balanced assessment of performance and here we believe A&F continues to deliver good growth. The comparable growth rate of 3 per cent is particularly impressive when set against last year’s stellar 9 per cent uplift.”

    He said there was now a clearly evident divergence between the performance of the Abercrombie and Hollister brands. The former posted a 2 per cent decline in comparables with the latter recording an impressive 6 per cent uplift.

    “In our view, Hollister is a brand that is strongly connected to its core customer base, both through impressive marketing and an assortment that is attuned to their needs and tastes. Our own tracking shows that the brand has strong traction and is attracting and converting a core group of shoppers on a regular basis at the same time as adding some new shoppers into the mix. Provided Hollister remains on trend with its range – and we see no reason why this should not be the case – we believe it should continue to perform well as the company moves into its new fiscal year.”

    Saunders said that while Abercrombie’s performance was a little soft this time around, the brand was up against tougher prior year figures.

    “Nevertheless there has clearly been a loss of momentum. Our data show that affinity to the brand, although much improved, is a more tenuous than Hollister. This means that Abercrombie was more exposed to the loss of consumer momentum in the general economy after Thanksgiving and Black Friday.”

    But he said the brand continues to show good potential and there were a number of fashion wins over the period, including good traction in outerwear.

    “Despite the slowdown we remain confident that Abercrombie is on the right track and can improve its numbers as it fine-tunes both marketing and merchandising.”

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  • China’s baby-care market sees boost

    China’s baby-care market sees boost

    China’s baby-care market achieved total sales of RMB9.617 billion (US$1.4 billion) last year, reflecting rapid growth, according to new research from Mintel. Between 2013 and last year, the market recorded a CAGR of 19 per cent thanks to the relaxation of the one-child policy and a consumer trend towards premiumisation in the country.

    Baby skincare is the largest segment of China’s baby-care market, accounting for 60 per cent. The baby-bath and soap segment comes in second, at 31 per cent, followed by the baby-hair products segment which accounts for roughly 10 per cent.

    “China’s baby-care market grew at a considerable rate in recent years and will see sustained growth in the next five years,” said Vicky Zhou, research analyst at Mintel China.

    “Although the current slower birth rate will affect the market, increased spending on each child and higher usage frequency should make up for the market’s growth.”

    Usage

    Insect repellents for babies was the fastest-growing sector last year, with as many as 47 per cent of Chinese consumers aged 20-39 with children aged up to three years old saying they have used baby insect repellents more often during the last year.

    Meanwhile, nearly half of Chinese consumers say that they have been using baby shower gels and baby body lotions or creams more often in the past year, rounding up the top three products with the highest change in usage frequency among Chinese consumers.

    Baby suncare also has recorded the least increase in usage frequency with only 15 per cent of Chinese consumers having used this more often in the past year, and more than 65 per cent have not used baby sun-care products.

    Skin is always a priority among Chinese parents. ‘Solve skin problems’ (71 per cent) and ‘contain ingredients that can benefit skin’ (68 per cent) are the top two attributes that parents are willing to pay a premium for when purchasing baby-care products.

    Problems

    Just over a third (34 per cent) of Chinese consumers say their biggest concern when choosing products is not knowing if it is suitable for their babies, while 32 per cent say they are afraid to try products they have not used before.

    Furthermore, 29 per cent say they do not know the ingredients used in the products, and lack understanding of the advantages of one brand versus another.

    “Parents are interested in and willing to pay a premium for baby-care products with premium claims, specifically products that can solve skin problems or contain ingredients that can bring benefits to their babies’ skin,” Zhou concluded.

    China’s baby-care market is expected to see sustained growth during the next five years, with total sales set to grow at a CAGR of 14.5 per cent, reaching RMB18.888 billion in 2023.

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  • Nokia to open Cognitive Collaboration Hubs

    Nokia to open Cognitive Collaboration Hubs

    Nokia has announced plans to open a network of Cognitive Collaboration Hubs to drive collaboration between operators and enterprises on the development of AI-powered use cases. By hosting development on the Nokia AVA cognitive services platform, the hubs will reduce operators’ time to market and increase their return on investments in data analytics.

    The Cognitive Collaboration Hubs build on the success of Nokia Cloud Collaboration Hubs established in 2018, which have attracted substantial interest from operators to help them build new cloud-based capabilities.

    The hubs aim to provide a catalyst for operator strategy development and help them solve key challenges by applying analytics and AI techniques. Agile development processes are used to jointly create use cases, test and put them into operation within weeks.

    Typical application areas focus on network operations, network performance, customer experience and data monetization. 5G is another key focus, and Nokia is currently working with several US operators on the use of machine learning to improve 5G network planning – for example to help identify the best site locations or Massive MIMO beamforming configurations.

    “Network operators are eager to deploy AI to improve network operations and strengthen customer relationships,” GlobalData service director for telecom technology and software John Byrne said.

    “Nokia’s Cognitive Collaboration Hubs can help accelerate those plans by providing a space for operators, partners and enterprises to co-create new AI solutions utilizing a mix of data science and telco domain expertise.”

    Nokia is already engaged in a number of AI-based trials with operators worldwide. For example, in Turkey, Nokia and Türk Telekom are testing machine learning based artificial intelligence technologies on new generation mobile and fixed networks by using Nokia’s artificial intelligence assistant MIKA and AVA cognitive services platform.

    Nokia is also announcing a new innovation to improve road safety and passenger experience. Driver Behavior Analytics provides real-time analysis of data from commodity sensors delivering useful data insights for government authorities, the automotive industry and commercial enterprises.

    Advanced insights derived using a proprietary smartphone application to deliver information on aggressive driving, inadequate road conditions or dangerous junctions.

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  • Sogo department stores see strong sales growth

    Sogo department stores see strong sales growth

    Sogo department stores parent Lifestyle International has reported a 50 per cent drop in net profit for last year, despite increased sales.

    While turnover rose 16 per cent to HK$4.36 billion (US$555 million), net profit fell to $1.69 billion ($215 million).

    However, the company explained the fall was largely due to comparison with 2017 when the company received a one-off gain from the sale of a majority stake in its subsidiary, netting $420.8 million. On a trading basis, the department stores it operates posted solid results.

    Sales at its Sogo Causeway Bay flagship store rose by 10.5 per cent last year, and mainland tourists underpinned a 30.3 per cent increase in sales at the Sogo Tsim Sha Tsui store.

    CFO Terry Poon Fuk-chuen said the improved turnover was due to the company enhancing the shopping experience at its stores.

    Lifestyle International executive director Kam Shim Lau predicts this year will be challenging for retail as declining wage growth and weakening asset values may dent consumer sentiment.

    “Looking ahead, the group predicts a single digit growth in the first half of 2019 and adopts a cautious approach for 2019,” he said.

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  • DesignSingapore to take local brands global

    DesignSingapore to take local brands global

    DesignSingapore Council (DSG)’s new Business of Design (BOD) program has launched to help local furniture and lifestyle brands expand globally.

    As a part of Singapore Design Week 2019, which runs until March 17, the program will select up to six brands the council believes have the potential to expand internationally, to receive mentorship from industry experts.

    During the first two years, the BOD program will focus on the furniture and lifestyle product sector, and it will be expanded to include designers from other industries later.

    “With increasing industry demand for design, the role of designers will expand,” said Chee Hong Tat, senior minister of state for trade and Industry. “Hence, our design education and talent development programme must adapt to help our designers tackle more complex challenges in the future.

    A themed collective showcase will be held in 2020 at an international location before travelling to other events including Milan Design Week. Displays will also be created at retail pop ups in cities including Shanghai.

    Established in 2003, DSG aims to help local companies expand beyond Singapore.

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  • Most Japanese firms want to expand Vietnam operations

    Most Japanese firms want to expand Vietnam operations

    Higher revenues have motivated almost 70 percent of Japanese firms in Vietnam to consider expanding their business here. Higher revenue was cited as the reason for expansion plans by 65 percent of Japanese businesses. Another 43 percent saw greater potential and high growth as encouraging factors. The majority of respondents also said that Vietnam has advantages in market scale and high growth, political-social stability and low labor costs.

    65.3 percent of Japanese companies in Vietnam reported profit last year, up 0.2 percentage points from 2017. The ratio of businesses reporting loss went down 2.8 percentage points to 12.7 percent last year. Japanese businesses in Vietnam seem to be most confident in their prospects this year among the Asia countries JETRO surveyed. 58.7 percent of businesses in Vietnam expect their profit to increase this year, while this figure is only 47 percent in Thailand, 44.7 percent in Malaysia and 39.5 percent in China.

    However, the ratio of businesses reporting profit last year is lower than other countries in Asia, including Indonesia at 65.5 percent, Thailand 67.2 percent, and Malaysia 68.9 percent. Japanese businesses also said that the top risks in the country were increasing labor costs, an incomplete legal system, lack of transparency in law enforcement and complicated tax and administrative procedures.

    They said that Vietnam has a high rate of employee turnover, with 36.2 percent of respondents mentioning this as a problem, higher than in Thailand at 33.2 percent and India at 32.5 percent.

    Labor costs account for 20 percent of total costs in Vietnam, higher than the Philippines at 16.8 percent and Indonesia at 16.5 percent.

    The localization rate in Vietnam remains low, the Japanese respondents said. Only 14.4 percent of Japanese businesses said they bought material and parts from local businesses last year, lower than in Indonesia at 19.5 percent, Malaysia 20.4 percent, and China 41.6 percent.

    This is the 32nd year that JETRO has surveyed business conditions of Japanese firms in Asia and Oceania.

    The survey polled 787 Japanese businesses operating in Vietnam in October and November last year.

    Japan was the largest foreign direct investor in Vietnam last year, with a total registered investment of $8.59 billion, accounting for 24.2 percent of the total, according to the Ministry of Planning and Investment.

  • New stores boost sales for Sheng Siong Group

    New stores boost sales for Sheng Siong Group

    Singapore supermarket chain Sheng Siong Group has reported a 1.4 per cent year-on-year rise in net profit to S$70.5 million for 2018. Revenue, gross profit and gross margin all improved in both the final quarter and full year, but they were offset by a reduction in other income and higher operating expenses. Government statistics show sales in supermarkets across the city state shrank during the year, but Sheng Siong Group said it was able to mitigate that with new stores, its revenue rising 7.4 per cent for the year.

    The company’s gross margin increased to 26.8 per cent, from 26.2 per cent, mainly because of better buying prices, higher rebates from suppliers for special promotions and volume discounts, improvement in efficiency in the central distribution centre and higher mix of fresh versus non-fresh offerings.

    In a statement, Sheng Siong Group said it expects competition in Singapore’s supermarket industry to remain keen, “exacerbated by the proliferation of new supermarkets in HDB residential areas, as well as the push by new and existing e-commerce players for market share”.

    The group will continue to look for new retail spaces in new and existing HDB housing estates, particularly in estates where there is no presence. It has delayed a planned expansion of its central warehouse, which is now likely to be completed about mid year.

    The company’s store in Kunming, China, which opened in November 2017, recorded a loss of $700,000 last year.  It has has leased a site for a second supermarket in the city and hopes this will commence trading in the third quarter

    “Our store expansion plans have been well on track where we have opened 10 new stores during the year, bringing our total store count to 54 and expanding our total retail area to 496,200sqft,” said CEO Lim Hock Chee.

    “Going ahead, we remain on the lookout for new retail opportunities, especially in areas where we do not have a presence. Besides nurturing the growth of our new stores in Singapore and China, we will continue with our efforts in enhancing the gross margin via more efficiency gains in the supply chain and higher sales mix of fresh produce. We will remain vigilant on costs.”

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  • Diesel files for bankruptcy

    Diesel files for bankruptcy

    Famed denim streetwear brand Diesel USA has collapsed, filing for bankruptcy protection in Delaware.

    According to papers filed with the court, the company has up to $100 million in assets and as much as $50 million in debts. The company filed for bankruptcy after unsuccessfully lobbying landlords for rent reductions.

    However under a three-year proposed restructuring program, Diesel says it does not plan to reduce its store network, rather to find more affordable locations.

    Diesel USA has 28 retail stores across the country and about 380 employees. It also wholesales through department stores and specialty retailers

    In the 1990s and early 2000s, Diesel USA, the North American unit of Italian-headquartered Diesel SpA, was at its peak, “dominating pop culture”. As a result it was commanding a high premium for its clothes and could justify seeking high-profile – and thus high-rent – locations in major cities across the US.

    Now those leases are no longer affordable and landlords seem reluctant to reduce rents to maintain a tenant no longer at its peak of popularity. The company has managed to get a reduction on only a single store despite a year of negotiations.

    Bloomberg reports the company had also been affected by several instances of cyber fraud and theft, costing it about $1.2 million.

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  • Indian mall supply industry booming

    Indian mall supply industry booming

    A three-fold jump in Indian mall supply from 3.2 million sqft last year to nearly 10 million sqft this year has been reported in India, following supply rollover from the previous year.

    The figures were outlined in the research report Customer Experience (CX) – The Epicentre of Retailing by property consultant firm Anarock, released at the Retail Leadership Summit 2019 in Mumbai this week. The report finds that customer experience and ‘built environment’ are completely metamorphosing the retail business in the country, and that these trends have already started influencing and impacting both the online and the offline retail segments.

    “With the new e-commerce policy in effect from early this month, online retail giants are realigning their business strategies and focussing to expand their offline presence,” said Anarock chairman Anuj Puri.

    “Brick-and-mortar retailers who were earlier under threat from e-commerce can now look forward to a more level playing field and tap into the rapidly growing Indian consumer market with renewed confidence and business prospects. The new e-commerce policy will bring parity between the online and offline retailers and address the concern of data colonisation as well. Even as online players may lose many of their competitive advantages – such as high price discounts on their private labels – brick-and-mortar stores will focus on offering superior customer experience to enhance customer loyalty.

    “The new e-commerce policy will cause online retail entities to invest seriously in offline stores,” he continued. “They will consider tie-ups with offline retailers or buy stakes in them. However, as competition stiffens, customer experience will be the key differentiator to the success and sustenance of any new retail venture.”

    Kumar Rajagopalan, Retailers Association of India CEO, added: “A combination of essential and value-added services, along with sound marketing strategy, is now the key to customer attraction and therefore successful mall performance. F&B and entertainment are critical ingredients for attracting footfalls into retail developments. Simultaneously, style, variety, and overall quality of malls also play crucial roles in ensuring customer satisfaction.”

    Historically dominated by unorganised mom-and-pop stores, the Indian retail sector’s dynamics are rapidly changing post liberalisation and subsequent e-commerce boom across the country. The rise in internet subscribers and active social media users, changing lifestyles and increasing disposable incomes have transformed the rural and urban consumer bases alike. This dynamic resulted in the increasing prominence of e-commerce across the country, leading to India’s emergence as a key global retail market.

    Nearly $1.42 billion FDI has already been infused in the Indian markets between April 2000 to June 2018 – and global investments into Indian retail are all set to increase further, states the report. The Indian retail sector is expected to reach $1.750 trillion by 2026, due to changing demographics and increasing consumer expenditure, which is expected to rise to $3.6 trillion by 2020.

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  • Abysmal start Zero Pay pilot in South Korean

    Abysmal start Zero Pay pilot in South Korean

    The Seoul city government’s smartphone-based payment-program pilot posted an abysmal track record in its first full month of service, data showed Wednesday.

    In a bid to help relieve small merchants of burdensome credit card fees, the municipality began the trial run of the “Zero Pay” service in late December, enabling users to pay for purchases card-free and receive tax benefits.

    About 8600 purchases totalling 199 million won (US$177,000) were settled via the Zero Pay system in January, according to the data provided to Rep. Kim Jong-seok of the main opposition Liberty Korea Party by the Financial Supervisory Service.

    The number of settlements came to a mere 0.0006 per cent of the 1.56 billion purchases made using credit, debit and prepaid cards, with the value reaching only 0.0003 per cent of the total 58.1 trillion won.

    As of the end of January, slightly over 46,600 small shops and businesses were taking part in the pilot payment service.

    Watchers attributed Zero Pay’s poor record to the small number of participating merchants and customers’ unwillingness to change their payment habits.

    Eleven commercial banks, including all major lenders, joined the test service, which the Seoul city government plans to formally launch after this month.

    Nine more banks are slated to take part in the Zero Pay system, and the municipality will recruit convenience stores and other franchise stores to join.

    Under the system, money is transferred from a consumer account to that of a merchant when the consumer scans the merchant’s QR code with a smartphone using the existing apps of commercial banks or online payment platforms.

    Following its formal launch, the central government plans to gradually expand the service to other parts of the country by offering tax breaks and eliminating related regulations.

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  • HKT Payment adds marketplace to mobile wallet

    HKT Payment adds marketplace to mobile wallet

    HKT Payment has launched a new virtual store within its Tap & Go mobile wallet to allow customers to purchase online game virtual gift cards.

    The new Tap & Go Marketplace will offer a wide range of gift cards including Google Pay Gift Codes, PlayStation Network, Xbox and hvmod cards.

    Once payment is complete, a PIN will be instantly installed within the Tap & Go marketplace that can be easily redeemed on the respective online marketplace.

    “We are excited to launch the Tap & Go Marketplace and extend the service to better meet the needs of the game-savvy segment,” HKT Financial Services head Monita Leung said.

    “Not only does online purchase via Tap & Go Marketplace give customers full control over their spending and peace of mind with secure payments, but it also offers gamers greater convenience and a seamless experience.”

    The launch follows the introduction of the Faster Payment System in September that allows customers to instantly top up their mobile wallet.

    Leung said HKT Payment plans to continuously expand the gift card categories available over Marketplace to cover music, videos and software.

    HKT Payment secured Hong Kong’s second ever stored value facilities license in 2016.

  • India’s copper cabling market to reach $862m by 2023

    India’s copper cabling market to reach $862m by 2023

    The India structured cabling market is projected to reach $861.6 million by 2023, according to Research and Markets.

    Increasing demand for copper cables, growing data center market, higher product launch activities by the market players, and rising demand for bandwidth solutions are the major factors driving the growth of the market.

    Based on wire category, the India structured cabling market is divided into Cat5e, Cat6, Cat6A, and Cat7. The most popular category, Cat6 held the largest market share in 2017. Cat6 owed its popularity to the backward compatibility of this cable with Cat3, Cat5, and Cat5e cable system while providing at least 150 MHz of more frequency range than older types of cables that provides a cost-effective solution for the end users.

    In India, demand for Cat6A is surging owing to its low cost/feature characteristics. It is forecast to grow at 11.9% CAGR. Cat6A cable provides a better cost-effective solution than Cat7 cable and double the bandwidth than Cat6 cable.

    On the basis of application, the India structured cabling market has been categorized into data center and LAN. Data center is expected to register faster growth in the market, during the forecast period, owing to growing demand for cloud computing and cloud storage. This demand is fulfilled by increasing number of data centers in the country.

    The market for data centers in India is expected to reach a value of $4.1 billion by 2020. Tier I cities predominantly, Mumbai, New Delhi, Chennai, Bengaluru, and Pune are expected to be the main locations for data centers in the country.

    Copper cabling has been providing a flexible, reliable, and economical communication medium since decades. Initially, commencing with the analog telephone and continuing with present high-speed digital networks, copper cabling has been the preferred choice for much of the communications infrastructure installed in India’s residential, commercial, industrial and institutional buildings.