Prism+: Bringing Customers Innovative Product Line with Affordability & Utmost Convenience

Continuous R&D spending by market players in the development of new consumer electronic products with increased features will drive consumer electronics industry growth. Due to the advent of new technology, the industry is one of the fastest-growing industries. This is further supported by the Asian region’s rapidly growing middle class as a result of urbanization. This has generated an opportunity for e-Commerce, with Southeast Asia adding 70 million online customers since the outbreak began, with a total of 380 million predicted by 2026. This has also increased demand for the Smart Home market, which is expected to develop at a compound annual growth rate (CAGR) of 7.5 percent in Asia Pacific from 2022 to 2032. Having stated that, every consumer wants the highest quality standards at a reasonable price.

Furthermore, Asia is a melting pot of numerous marketplaces, each with its own distinct characteristics (mature and developing), while the importance of localisation cannot be overstated. Hence, before entering a market, brands must first understand it. Always looking at segments to disrupt, Prism+ has always prioritized on offering superior featured products to the mainstream market at a low cost. “We did this with our gaming monitors and 4K Android TVs, and our direct-to-consumer business strategy. Since we sell directly to consumers, we place an emphasis on localization.

Furthermore, as we eliminate intermediaries such as distributorships, our D2C business model allows us to offer products at most inexpensive prices", signifies Khairul Sufiyan, Head of Partnerships and Community at Prism+. Today, Prism+ is known in the market for providing quality technological products at value-driven prices. For instance, the company initially entered the market in 2017 by supplying low-cost yet high-quality gaming monitors. Understanding the market, Prism+ expanded to offer

productivity monitors and, in late 2021, portable monitors. Furthermore, Prism+ is Singapore’s best-selling brand for Android 4K TVs. The brand debuted its TV lineup in 2019, and demand for its low-cost luxury products increased during the pandemic quarantine in 2020. Prism+ recently upgraded their Android TV lineup to the most recent Google TV. It currently sells 4K Google and Android IPS TVs, 4K QLED Google TVs, and 4K OLED Android TVs, as well as TV stands and mounts. This year, Prism+ introduced a new product category - Soundbars. The company entered the market with this product to complement its televisions and round out the Prism+ home cinematic experience.

A premium soundbar at a great price, capable of creating 3D soundscapes with unique design and pioneering technologies like Dolby Atmos - all at an unbeatable price. Also included in the latest Prism+ Smart Home Appliances are a smart air conditioner system and a smart ceiling fan. So far, it has garnered enormous demand due to the value proposition presented to consumers, which includes unrivaled market warranties. Prism+ has also created a smartphone app that provides home automation functions for the smart air conditioning system and will be crucial to all future plans to launch smart home appliances for a holistic Prism+ experience across the home.

While we do not normally introduce patented technology, our aim is to take the best of existing technologies and explore how we can deliver them to consumers at a low cost

“With the growing demand, we have quadrupled our workforce to accommodate the increased demand during the pandemic. Our omni-channel customer care means that consumers can reach actual individuals at any time of day or night. While we do not normally introduce patented technology, our aim is to take the best of existing technologies and explore how we can deliver them to consumers at a low cost", highlights Khairul.

A Customer First Brand

In addition, the brand’s customer service is a core pillar in its business strategy – a methodological approach towards building a brand that consumers can trust. Simply put, most consumers want to enjoy products that bring them value – such as convenience and entertainment. While great features on a product play a huge part in the decision-making process to purchase a product, Prism+ also focuses on other factors such as price, as well as less-tangible variables such as brand trust. “We intend to expand our footprint in Southeast Asia beyond our current markets of Singapore and Malaysia, as well as in the Oceanic region (currently in Australia). We are working on launching the brand in the Philippines by the end of the year. Increase our product offering in the smart home appliance market area", concludes Khairul.