Sales just about met our expectations this festive season. Our sales increased over last year and equaled 2019’s. Last year, our annual turnover was Rs 23 crore. We expect to reach or slightly surpass this number in 2021.
The product categories most in demand were televisions and refrigerators. Among TV brands, demand was strongest for Xiaomi and LG.
We were impacted by global supply chain disruptions. Among LG’s products, running models arrived late. Furthermore, except Xiaomi, major running models of all brands were in short supply.
The brands we carry had very attractive schemes. Besides brands, Bajaj Finance’s cashback scheme was over and above others. This scheme was a big driver of sales. Many customers who intended to pay in cash were captivated by Bajaj Finance’s scheme and chose to finance their purchase instead. This helped us sell more big-ticket-size products.
Online retailers didn’t impact our sales very much. Brands like Samsung and Sony sell products much cheaper online than offline. However, most other successful brands sell at the same price online and offline. For instance, Xiaomi is gaining market share because its online and offline prices are the same. This means we earn well by selling Xiaomi’s products.
On the other hand, by selling Sony’s and Samsung’s products, we may lose money. This trend has caught the eye of retailers. They’re now selling brands that give them a level playing field. Simultaneously, many brands are doing away with selling at different prices online and offline. Because we sell brands that give us a level playing field, online retailers didn’t impact our sales.
Brands retailed: LG, Panasonic, Samsung, Hitachi, Daikin, Voltas, Xiaomi, LG, Daewoo, Sony, HP, and Lenovo