Fastrack’s ad spend for digital & traditional media likely to be 50:50 soon: Ajay Maurya

Fastrack recently launched its first smartwatch 'Reflex Vox' that boasts unique features such as in-built Alexa and SPO2 monitor. The Tata group company, which projects itself as 'Fash-Tech' brand by integrating ‘tech’, and ‘fashion’ into the wearables & hearbales, now seeks to compete with the international players like Apple, Samsung and Xiaomi that continue to dominate the smartwatch segment. e4m caught up with Ajay Maurya, Head of marketing, Fastrack, to understand the challenges of the segment, future of analogue watches and his plans to take the brand ahead. 

Excerpts from the interview: 

After a steady decline during the pandemic, the smartband segment has bounced back and seen 9.9% growth Y-O-Y as per the latest IDC report of Q3. What are your expectations for the Q4 and for FY 23? 

Technology has seen disruptions due to the pandemic. Two years ago, features related to fitness and health were considered very important. When the pandemic struck, the saturation of oxygen (SPO2) monitors became very important. Disruptions happen every now and then, new tech comes up catching the eyes of consumers. I am optimistic that the segment would grow further in the coming fiscal year. 

We also hope that our first smartwatch-'Reflex Vox'-will create space in the market with its unique and pertinent features such as built in “Alexa”, which will interact and communicate its response in the form of text messages on the watch screen of 1.69 inches. It has many other features such as SPO2 monitor, more than 100 watch faces, 10 days of battery life, heart rate monitor among others. It's a complete package taking care of all important health features.

How do you plan to take Fastrack ahead considering the strong dominance of Apple, Samsung and Xiomi & other Chinese players?

The category has taken by storm for sure but there is space for everyone in the market. Apple and Samsung play in the premium segment while boAt is in the economy section with less than Rs 4,000 price band. Our smartwatch is priced at Rs 6,995 which is available at Rs 4,995 in the inaugural offer. Smartwatch is a huge market dissected across various prices. We will capture huge market share in a different segment which is up for grabs.

Do you think the days of analogue watches are over, especially since everyone has got the mobile phone?

Accessorization is still in vogue. The primary reason to wear the watch is not for time. Watches are to flaunt your true sense of style. Watches are occasion driven; for instance one will like to wear an analogue watch for parties and Saturday morning brunch. For the rest of the time, he or she will wear a smartwatch. So, both watches will coexist. 

How well your “hearable” category is doing which you launched about six months ago?

It has flourished. Audio segment Reflex tunes FT4 have been launched now we have planned to launch FT3. Wireless earbud space is the fastest growing segment taking everybody by storm and we hope to capture market share and attention both.

What is the digital media’s share in your total ad spend? 

It has been on an upsurge year-on-year. For the audience we cater to, it is important for us to engage with consumers who are on digital platforms. We have reached a stage where 40 percent of the ad spend is allocated for digital and 60 percent for traditional media. This is likely to become 50:50 soon.

We still remember Fastrack’s advertisements released 8-9 years ago that talked about how people of LGBT community should come out of the closet. Do you think such an ad would have passed the social media scrutiny, had it been released now?

Many brands are taking a disruptive stand today against unconventional things. Battleground has changed today and brand stories are being discussed on social media in a big way. Earlier, only Fastrack was doing such unconventional conversations. Now, many brands are doing the same. Fastrack has always taken a stand over issues that are close to Indian youth.

Maurya concluded saying, "Our campaigns have encouraged Indian youth to express themselves. Earlier, youths used to be stressed over relationships, sexual orientations and how to remain uncommitted. Fastrack tried to alleviate their tensions with humorous takes. Today, such inhibitions don’t exist. Youngsters are open about relationships and sexual orientations. Today’s stress is different. Youth are concerned about their inability to express themselves freely. Our campaigns try to address those fears with witty takes. Fastrack has been truly associated with youth’s tensions since the beginning. We are not doing such campaigns just for the sake of it".