At myG, our goal is to transform retail to offer a new generation shopping experience. We rely on the market data and intelligence from the specialists at GfK to maintain our leadership position. From identifying new opportunities and gaps in the market to detailed category and brand-level insights, our collaboration has helped us formulate effective marketing strategies and promotional tactics so we can continue to deliver the excellent product portfolio, pricing, and service that our customers expect.”
Mr A.K. Shaji
Managing Director, myG
One of the fastest-growing retailers of Technical Consumer Goods and Durables in Kerala
myG is one of the dominant retailers of mobile phones, consumer technology and household appliances in Kerala. The brand offers a wide range of local and national brands under one roof. Starting life as 3G Mobile in 2006 specializing in mobile, the company has continually expanded its offering to customers by expanding their portfolio and hence rebranding from 3G to myG reflecting that change. Today it has 114 stores across the south Indian state. 20 of these are larger showrooms, branded myG Future, selling an extended range of lifestyle goods including major and small domestic appliances
To succeed in our highly competitive sector we need to be nimble and that means having the latest sales data and insights into changing consumer behaviour. With GfK as our knowledge partner, we have the information we need to constantly evolve our offer. This is vital to earn and keep the trust and confidence of our customers who shop with us time and again and who recommend us. I believe this relationship is key to our continued strong performance.”
Mr A.K. Shaji
Managing Director, myG
Maximizing a peak sales period that contributes 28% to T&D sales
Festivals and holidays have traditionally enjoyed strong sales across the globe, and the Kerala festival of Onam is no exception. Celebrated by all Keralites, regardless of their religion or cultural background, it’s a happy occasion to come together. At this time, all sorts of products in the state experience a significant sales boost. It also heralds the start of the festival season in India as a whole, and its commercial performance is seen as an indicator of the sales potential of the coming major national events including 4D (Dussehra, Durga Pooja, Dhanteras, Diwali) which enjoys the biggest sales of the year. 28% of the total annual sales Value of Technical & Consumer Goods in Kerala are made during the Onam season – proof of its importance to the sector.
Partnership between myG and GfK coincided with the retailer’s recent rebrand as myG and its diversification into household appliances and consumer durables available in its myG Future showrooms. The company wanted help to ensure these stores were offering the right product and brand assortment to meet customer needs and sales targets. In 2020 myG approached GfK to find ways to maximize the Onam festival to increase market share and acquire new customers during an intensely competitive trading period.
A solid foundation for tactical decision-making
Subscribing to GfK’s weekly point-of-sale data gave myG valuable evidence of the categories that were growing the fastest to help the team spot opportunities for growth. This insight supported the rethink and gradual expansion of the product and brand portfolio that accelerated myG from a purely mobile phone offering to the lifestyle products it sells today. These insights fed into the marketing strategy, inspiring the creation of appealing new offers and promotions to maximize opportunities, especially those presented by the Onam festival.
Onam festival sales exceeded expectations
myG experienced exponential sales during the Onam festival with many new customers introduced to the brand. The retailer outperformed the market average, posting higher growth in all sectors and increasing their market share, thus meeting their objectives. This achievement was especially welcome as coming after the lockdowns of the pandemic, retailer wanted to deliver strong performance across sectors.
A strong working relationship
myG and GfK have worked together as partners. Together, have navigated a time of great change in the retail sector driven by the many challenges created by the pandemic and later, by high inflation.