New Delhi: In a twist, in the telecom industry of India private telecom companies like Reliance Jio, Airtel and Vodafone Idea (Vi) have experienced a decrease in their customer numbers due to a sudden increase in prices. As per the report for September released by the Telecom Regulatory Authority of India (TRAI) than 10 million subscribers parted ways, with these private network providers within a mere month.
Reliance Jio was once a player, in the field. Saw a significant setback as it lost a whopping 79 lakhs. Airtel and Vi also experienced losses. These declines point to a rising discontent, among customers who seem to be shifting towards options.
In contrast Bharat Sanchar Nigam Limited (BSNL) the government owned telecom provider differs from the norm as it gained 800000 subscribers in September.BSNLs affordable packages, without any price increases have attracted budget customers who are growing displeased with the offerings, from private providers.
The significant change, in what subscribers prefer shows how pricing strategies influence consumer behavior greatly. Jio,Airtel and Vi decided to raise tariffs while BSNL openly stated it did not intend to do the same.This decision turned out to be advantageous for BSNL.As a result of this move BSNL has attracted a growing number of subscribers.This trend marks a shift, from the past when consumers typically favored brands offering services and competitive prices.
Industry professionals suggest that private telecommunications companies should review their pricing strategies to rebuild trust among consumers. Whether, by offering cost plans or introducing packages that provide more value for money it is crucial to address the issue to prevent the loss of customers. This highlights the need to find a ground, between maximizing profits and ensuring customer contentment in a competitive market.