Smartphone Sales: Notably, large-format retailers too are capitalising on after-market servicing, with up to 30-35% of their total gross profit coming from this segment, according to staffing firm Teamlease.
"Established industry players are increasingly embracing apprenticeship initiatives aimed at cultivating a skilled workforce. These programmes offer courses such as service engineer IT hardware, repair technician, wireman control panel electronics, and electronics mechanic, targeting students who have completed 8th or 10th grade for entry into the field," he added.
The Extended Warranties and Service Contracts market is expanding due to increased consumer demand for product protection and maintenance services beyond standard warranties. Key drivers include technological advancements, rising product complexity, and a focus on customer retention. Market players offer diverse coverage options across various industries, including electronics, automotive, and appliances.
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Conventional wisdom and so-called 'never buy' lists will tell you that there are certain things that are rarely worth spending your money on. Such items typically run the gamut from cheap, low-quality.