“In spite of lower sales this festive season, we saw an increase of 10 percent over 2020 in our turnover. We expect to close 2021 at Rs 75 crores.
The ongoing supply chain disruption did not really impact our business.
Popular brands from our counter are LG, IFB, and Sony. Premium LED TVs did extremely well. Demand for 43-inch and larger TVs has nearly tripled compared to last year.
Cashback schemes on credit or debit card purchases prove very popular and effective. In some instances, customers get as much as 10 to 15 percent cashback. Also, finance schemes especially 1 EMI off pushed sales. Only 30 percent of our sales are all-cash, the remainder are financed.
The challenge posed by online retailers is different from what it was a few years ago. Our prices are in many cases lower than that of online sellers, and yet, customers prefer to buy online. Their higher geographic reach, convenience, a larger product range and convenient return policies have an edge over us.”
Brands retailed: LG, Sony, Whirlpool, Voltas, IFB, Hitachi, Daikin, O General, Haier, and Lloyd.