Titan ‘watches’ out for millennial consumers

At a design confluence held in Bengaluru, Kant said, “Titan is a consumer centric company. When the whole buzz about millennials began, we set up a Millennials Paradox panel, with a set of experts from diverse fields who could come up with insights on millennials. As part of our research, we learned that around 50 per cent of the diamond jewellery sold in India was bought by millennials in 2015.”

The same demographic spent over $2 bn on diamond jewellery in the same period. What the company also saw was that despite such spending tendencies, millennials consider access more important than ownership. And the group is constantly on the lookout for experiences rather than acquisitions. Kant also brings focus to the new buzz word popular among millennials which is that of a shared economy.

Some of the mega trends that the company has been paying attention to include: Connected Consumers, She-conomy and Well-being. And women are the wonder consumers that every brand is trying to tap into.

The company has used these learnings to introduce new products like the Titan We, which is being pitched as the very first Indian smartwatch aimed at women. Kant says, “The age-old strategy of Shrink it and Pink it won’t work anymore. With an eye on the growing women’s market, historically, male oriented sportswear brands are making changes in their strategy. The Titan We comes with features like find your phone and even an emergency messaging option.”