COVID-19 set the tone for a ‘new normal’ for everyone across the globe. Social interactions took a back seat, mechanisms of interaction started seeing a change and digital became a priority for everyone. The fear of contracting the virus saw a lot of economies going downhill as offline stores stayed shut. But at the same time, a whole bunch of industries saw a boom, including that of laptop manufacturing.
The quarter ranging from April to June had a surge in shipment of Notebooks by a whopping 17.6 per cent, said a report from the International Data Corporation (IDC). This was the case despite overall economic and sales slump due to lockdown and poor purchase sentiment of consumers.
Even Asus laptop prices saw a surge due to the rising demand. As offices moved all their operations online, they needed to facilitate ease of working for their employees, leading to a surge in demand for laptops. Here are a few factors that indicate that this surge may continue even after the lockdown ends.
Requirement spanning across industries
Not only do professionals require laptops, but even students now strongly feel the need to own one as learning and education has moved online. Most colleges and schools have shifted their courses online, via video calls. Students are doing their research and project work online as against the usual hard copy method.
Teachers too have mastered e-learning and are now getting habituated to lesson plans and dissemination via online methods. Teachers and students can now purchase basic models, as laptops under 30000 now come with faster processors, decent RAM size, and sufficient storage space.
Demand for online entertainment
As offline sources of entertainment such as movie theatres, concert halls and sports arenas don’t show indications of opening in full swing anytime soon, people have moved to online entertainment such as playing games, viewing online concerts, listening to podcasts, listening to music or opting for OTT subscriptions.
Need for upgrades
Those who didn’t anticipate a longer work-from-home schedule and had cheaper models at home have slowly realized that the work-from-home culture may last for a longer period of time than they anticipated. They have, therefore, started investing in slightly expensive models which provide them with high quality and sturdy hardware and software, both. The laptop industry is seeing a traction in the Rs. 32,000 to Rs. 52,000 price bracket which covers the mainstream laptop segment. This segment has laptops with large displays, good speed and providing full solutions.
Probable continuation of work-from-home
A lot of companies have realized the benefits of the work-from-home culture such as low operating costs, faster turnaround times, reduced stress of work commute and increased productivity. Considering the plethora of benefits, a number of companies are opting for perennial work-from-home culture, which means providing their employees with infrastructure for the same, the important one amongst them being a laptop.
Therefore, the laptop industry is seeing bulk purchases from these companies, with some of them placing orders of anywhere from 8,000 to even 10,000 machines. Some of them are ordering even monitors and routers.
Demand for essential services
Essential service providers such as grocery stores, hospitals, doctors and media professionals are opting for business laptops and Chromebooks for ease of working. In fact, business laptops and Chromebooks started flying off the shelves since day 20 of the lockdown, as these service providers had to amp up their game and ensure continuity of service. These services may continue digital operations post-lockdown to provide additional, quick service to people.
While some believe that there may be a slump in sales of laptops once the economic impact of COVID-19 fully hits the country, there is no doubt that these machines are the best, and most efficient way of operating for almost all businesses. A lot of companies are focusing on online channels to market and sell their products and services. Therefore, it will be a while till the laptop sector sees a slump in sales.
Furthermore, customers can now purchase a new laptop without any down payment. The Bajaj Finserv EMI Network Card allows you to purchase a new laptop, without making any down payment. You can divide the cost of your new device into monthly installments, which you can pay over a flexible tenor between 3 and 24 months.