Hey there, FinOak fam! How's it going? We're excited to bring you another edition packed with interesting updates. Get ready to scroll down and take a sneak peak on Apple’s store in Delhi and read about the fantastic viewership of IPL 2023 all set to break records. Lastly, read about why it is important to have a life insurance in your 20s. Let's dive in!

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Weekly Wrap Up

‘Thinking different’, in India The story behind Apple’s store launches

Covering all newspaper, headlines, Apple has finally opened their first ever store in India!

Everyone was in awe with the First ever Apple store–which was opened on 18th of April 2023 at Bandra Kurla Complex (BKC), Mumbai–followed by the second store–which opened on 20th April at Saket, Delhi.

It was indeed a good strategy to locate these stores at the largest and the most “technology loving” cities in India, with an evergrowing number of young, urban and upper middle class population, i.e., the top target audience for Apple.

What’s so different about Apple stores?

Apple, despite many attempts in the past, could not open its store (in India) due to regulatory hurdles; which resorted Apple to heavily rely on setting up partly-owned stores with retail partners like ‘Imagine’ and ‘Future World’ to help spread the word about Apple’s latest products and to sell its products in India. Now, with the golden-shower of ‘Apple Stores’, the entire range of Apple products are available in India.

Not to mention Apple’s ‘globally-known’ reputation for giving equal focus to both; product sales and customer satisfaction, the incorporation felt the need to open a store in India.

The company has the iconic Apple ‘Genius Bar’--a counter with Apple-certified technicians (called ‘Geniuses’) who provide personalised, face-to-face concierge-style tech support to customers. The opening up of stores in India promotes organising, ‘Today with Apple’ sessions; which are conducted with tech-experts at Apple with an intention to motivate customers to explore and try out different facets of Apple products.

History of Apple stores

The first ever store of Apple was opened at Tyson’s Counter in McLean, Virginia as well as Glendale Galleria in California in 2001. It however encountered a lot of pushback; with Steve Jobs being criticised for bringing the company to the retail front. The idea behind doing so was that Steve Jobs wanted customers to experience and love the products they used. Keeping a so-called “different” perspective in mind, Jobs–despite all the negative feedbacks–pushed forward with the decision of opening the store.

Well thank god for Steve Jobs; now Apple is a world famous elite brand, with its stores located in more than 500 locations, globally. In today’s context, some of these stores are even considered architectural landmarks, like the one at the Grand Central Terminal in New York.

Apple in India

Apple, as of 2023; has been in India for more than 25 years, but has majorly catered to a small, premium segment.

Initially, the company started off with manufacturing its products in India as a part of its ‘China Plus One strategy’.

Apple managed to manufacture iPhones worth $7 billion in India, in the last fiscal year alone. Now, premium smartphones segment is at 35% of the total market revenue in india.

Effect on the Indian economy

Currently ambitious with its first-ever launch, Apple is aiming to create more than 20 million jobs, along with a plan to boost up iPhones being manufactured in India by 25%.

They are also planning on hiring skilled technicians across more than 18 states, as Apple wants a team of multilingual and diverse individuals (the team at Apple BKC speaks more than 15 Indian languages and are now helping customers across various ethnicities!)

Get ready to immerse yourself in the #Appleverse

Indian Viewership League 2023!

Highlights

• 36.9 Crore viewers watched the first 19 matches eclipsing the previous record of 36.7 Cr in 2019

• Growth of ~25% in TVR compared to the last edition

• 13 of 19 matches deliver Peak Concurrency of more than 3 Crore viewers

The Indian Premier League (IPL) 2023 is already in full swing and is breaking viewership records every day. Disney Star, the official television broadcaster of the Tata IPL 2023, has set a new record for most viewership ever, according to official updates. According to information provided by the Broadcast Audience Research Council (BARC), a record-breaking 36.9 crore viewers tuned in to witness the first 19 matches of the IPL 2023.

Star Sports is overjoyed with the encouraging audience numbers during the tournament's first day and first week, and the company is still dedicated to giving fans access to a variety of interesting content that will bring them closer to the major event. Compared to last season, the broadcaster's first game had a huge 31% increase in TV ratings and a 20% increase in reach.

Additionally, 14 crore viewers watched the Tata IPL on Star Sports on the first day, with a peak concurrency of 5.6 crores and a duration of engagement of 76 minutes. Star Sports is confident that its initiatives will keep viewers riveted to their TV screens and produce a unique viewing experience that honours the spirit of the TATA IPL 2023.

The broadcaster has done everything possible to evoke strong emotions in the hearts of its viewers and supporters, including on-the-ground experiences like the IPL Trophy Tour, the Fan Bus, #MySocietyStadium, and The Incredible School Quiz (India's largest-ever school quiz). Disney Star's connection to some of the largest national celebrities has also increased its appeal to a wider spectrum of people. By partnering with celebrities like Ranveer Singh, Salman Khan, Priyanka Chopra, Pooja Hegde, and Nandamuri Balakrishna, the broadcaster has pushed the boundaries in an effort to draw in a wider range of viewers.

And last but not the least, with 6 out of the 10 teams winning 4 matches with a marginal difference in Net Run Rates, the final 30 days are going to be really exciting!

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Personal Finance

What are the benefits of getting life insurance in your 20s?

As an Indian in your 20s, you may not think that life insurance is necessary yet. After all, you're young, healthy, and have your whole life ahead of you. In this article, we will explore the reasons why getting life insurance in your 20s is a wise choice, and how it can provide you with peace of mind and financial security. So, if you're young and are wondering whether you should get life insurance or not; keep reading to find out why it pays to start early!

1. Lower Premiums: One of the main advantages of getting life insurance in your 20s is that you can lock in lower premiums. Insurance companies consider age and health when determining premiums, so the younger and healthier you are, the less you'll pay.
   

2. Protecting Your Dependents: If you have dependents, such as parents or siblings, who rely on your income, life insurance can provide financial security for them in case something were to happen to you. Even if you don't have dependents now, it's always wise to plan for the future.
   

3. Covering Debt: Many young adults have student loans or other debts. If something were to happen to you, your debts would not disappear, and your family could be left to deal with them. Life insurance can help cover these debts and prevent your loved ones from inheriting your financial burdens.
   

4. Building Cash Value: Certain types of life insurance policies, such as whole life insurance, can build cash value over time. This means that in addition to providing a death benefit, your policy can also act as an investment vehicle.
   

5. Mental Peace: Life is unpredictable. Referencing back to what ‘wise men’ say–”Change is the only constant”--none of us know, what the future has in store for us. Hence, having a life insurance in place can give you some mental peace. There is indeed a comfort in knowing that you've taken sufficient steps to protecting your loved ones in case the worst were to happen.

In conclusion, getting life insurance in your 20s may not seem like a priority, but it's a wise financial decision. By locking in lower premiums, protecting your dependents, covering your debts, building cash value, and giving you and your loved ones financial support for a comfortable and secured living, you can be assured that you're well prepared in advance for anything and everything that life has to offer.

So why wait? Talk to an insurance professional today and start securing your financial future!

You can also contact the ‘Saul Goodman’ of all Insurance professionals here 😂- https://www.instagram.com/reel/Cqzq5EKMt8h/?igshid=MDJmNzVkMjY=

Check out this article by Policybachat (in Go Deeper) to learn more about life insurance and the benefits of starting young!

This will be all for this week, see you next week :)

Team FinOak