Consumer electronics and smartphone makers will give retailers huge margins during the Diwali-Navratri season to boost sales, according to a report in The Economic Times.
Top brands such as Samsung, LG, Sony, Panasonic and Xiaomi have increased the festive season trade margin this year, executives told the publication.
Moneycontrol could not independently verify the story.
Brands have passed on 4-6 percentage points of extra margin to retailers starting from Ganesh Chaturthi, the chief at a major retailer told the paper. The extra margin offered is usually 2-3 percent.
The margins are likely to translate into discounts, which will help push sales amid the backdrop of weak consumer sentiment.
Consumer confidence has been low lately due to fears of an economic slowdown. Consumer confidence slipped to 95.7 in July from 97.3 in May and 104.6 in March, according to a Reserve Bank of India survey.―Money Control