Our sales this festive season were a huge disappointment. We believe that only online sellers enjoyed good sales. In 2020, our sales were better. Last year, my turnover was Rs 10 crore, but this year my turnover will decrease by 30 percent.
Demand for Mi, Realme, and Oneplus products was strong. Consumers are looking for larger-screen TVs.
We had difficulty getting enough inventory. Online retailers faced no such challenge.
Promotional schemes played a huge part this season. Bajaj Finance and Sony gave one free EMI. 10 to 15 percent instant cash back offers from Samsung, HDFC, Kotak Mahindra, and Bank of Baroda pushed sales.
Very few customers pay cash up front. Financing is proving very popular.
Since 2019, leading up to the festive season, online sellers have been advertising aggressively. They’ve been offering compelling schemes. Even when we have lower prices, we cannot advertise as vastly as online sellers. Because of this, consumers are flocking to buy online.
We offer a 3-year warranty while online sellers offer only 1-year warranty. Online sellers are also selling older models and consumers are not aware of this. People are blindly buying online.
I can’t sell online. If I sell a product that costs Rs 20,000 online and the customer buys it for 19,000 then the manufacturer will raise objection.
Brands retailed: Sony, Samsung, LG, TCL, Mi, Realme, OnePlus, Intec, and Hyundai