INDIA : Godrej Security Solutions, a division of Godrej & Boyce, the flagship company of the Godrej Group, has revealed that it has added approximately 1,000 counters in FY23, for their Home Locker (HL) category. In addition to this, the business announced that it will continue to focus on increasing its current market share of 70% in the home lockers category by adding an extensive range of IoT enabled lockers and safes to its existing portfolio. With a market penetration of over 7000 counters spread across the country, the brand aims to grow this category at 20% over the next one year.
The home-safes-and-lockers market in India is estimated to be around ₹300 crores and has been growing at over 15 per cent annually. To address this growing demand, the security solutions business has been amplifying its omnichannel presence by boosting its presence across distributors, 360 dealers, retailers, MTO outlets (national & local), COCO stores, and various online platforms.
Commenting on the announcement Mr Pushkar Gokhale, Business Head, Godrej Security Solutions, said – “At Godrej Security Solutions, our endeavour is to provide home customers with the security solutions that not only help secure their valuables and loved ones, but also make their daily lives more convenient and less stressful. With this ambitious plan to spread our reach to over 8500 counters, we strive to promote significance of safety through innovative offerings. We are confident that this development will maintain our leading position as a security provider and empower customers to lead a secure and safe life.”
Complimenting the brand’s strong channel partner network, the business continues to work on rationalisation and upgradation. A slew of innovations are in the pipeline that aims to offer differentiated customer experience through integration of smart features, enhancing durability and offering cutting edge design.
The new retail dealerships will contribute significantly to enhance the operations and customer reach of the company in the home lockers segment. For Godrej Security Solutions, Amazon is the bestselling platforms to drive revenue for home security products, followed by their own brand website ‘shop.godrejsecure.com’ that generates over 33% of their total online sales. The home security orders received on the shop site are passed to the relevant channel partner basis the location where the order has been placed, making the process much efficient.
The expansion of market and home safe portfolio, Godrej Security Solutions aims to maximize further on the increasing demand for safes and lockers as a gifting option by individuals and institutions like the hospitality industry. As a market leader, Godrej Security Solutions is a preferred option for such gifting initiatives.
