“Our sales this festive season reached the 2019 levels. I expect to close 2021 at Rs 100 crore.
LG, Samsung, and Sony continue to pull customers. Demand for premium products increased significantly. Even though we sold fewer units than we did in 2019, with higher sales realization, our revenues matched 2019s.
There was a surge in demand for TVs that are 40-inches and bigger. Demand was sluggish for 32-inch and 26-inch TVs.
Among promotional offers, the most popular were cashback offers from finance companies. These are not available online. Customers got as much as Rs 15,000 as cashback.
Brick-and-mortar stores had lower prices than online retailers. Consumers who knew this purchased offline and those who didn’t, bought online. We lost 35 percent of my business to online.
Due to disruption in the global supply chain, manufacturers are running their facilities at a fraction of full capacity. As a result, our product range was limited.”
Brands retailed: LG, Samsung, Godrej, Lloyds, Sony, and Voltas