We believe, we can sell 3Million dollar worth of kids smartwatch in Nepal and here's HOW?
When it comes to electronic gadgets, Nepali consumers are a step ahead of most of the world. They know what gadgets they need to buy to keep up to date in this technological world, from smartphones, and gaming accessories, to audio accessories to name a few. From our experience in e-commerce and online shopping in Nepal since 2016AD, here is what we have found.
Now, when it comes to kids' smartwatches, parents in Nepal are still unaware of the importance and necessity of this electronic gadget for their family's safety as compared to the western world. Particularly in the context of Nepal where the child gets kidnapped and abducted quite often. This is one of the best gift that Nepalese parents can give to their kids when compared to other cheap toys which don't last forever and have no benefits to kids.
The question is, how fast and how effectively Brothermart can reach each household/family all across the country with 1, 2, 3 or more children where they can track and monitor their child's location, make a communication with them through voice, text or even video call whenever they want and wherever they are. Other benefits like brain development games, health monitoring, one-touch SOS and geo-fencing features make this kid watch a must-have gadget in every family with one or more children aged 3-15 years.
When we see the demographic historical data. As per Statista, the children population of Nepal in the year 2022 is about 27.4% of children in Nepal are under 14 years of age. When calculated comes to around 8,235,420 or 8.24 million. We don't have data on children between 0- 3years. We are assuming among those 8.24 million children, 25% of children are aged 0-3 years (No data found). This brings us to the number of 2,058,855 or 2.05millin of children aged 0-3. We can come to the approximate conclusion that around (8.24-2.05=6.19 million) are children aged 3-14 years in Nepal. Please note this data is just for assumption and not final (considering 25% population is aged 0-3 years).
Now, when we come more to the math and calculation part to sell 3M worth of products all over Nepal to 6.19 million of potentially needy children. We just need to sell this kid's watch a total of 75,000 considering the average price of the product is $40. So, out of 6.19 million potential consumers that will benefit from this kid's watch, we need to make 75000 units of sales to make a revenue of 3M dollars which is not astronomical, which is around 1.2% of the total potential consumer.
To conclude, what approach Brothermart will take to fulfil this demand and how direct-to-consumer or B2B strategy will be implemented to reach this figure, only time can tell.
If you want to buy kids' watch from Brother-mart Online Shopping then please follow the link.
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