In a major joy to the customers preferring the offline way of shopping, brick, and mortars retail chains will be offering similar deals like that of online stores. Brands dealing in smartphones, consumer electronics and apparel are offering similar deals to beat tepid sales during the other time of the year. Major durable goods brands such as OnePlus, Xiaomi, Realme, TCL and Kodak are selling their products on the prices similar to what they sold online during last week's sale.
In fact, LG has further dropped its television prices, the Economic Times reported. The discounts offered by these players have increased so much that smartphones and televisions are being sold on 30 percent lower than their usual selling price.
Pulkit Baid, director at Great Eastern Retail said, "This year, discounts on television and smartphone are at their peak with brands taking the price route to woo customers across categories." Moreover, Mumbai based Kohinoor Electronics' director Vishal Mewani argued that brands are offering 6-10% more discounts on products as they want to ride on the festivities to somewhat recover the tepid sales during the early time of 2019.
One of the major Chinese maker Realme India is also offering major discounts on its smartphones. Realme India CEO Madhav Sheth said that the company is giving good attractive discounts both online and offline which may vary from time to time but are maintaining equal benefits for the customers. Notably, due to tepid growth in the economy, lack of new jobs and poor consumer sentiment in urban and rural India over the past three quarters, consumer goods manufacturers and retailers are showing caution this year's festive season.
The effects are visible in smartphone and television sales which have witnessed slumped sales, while apparel business has also registered lower growth for over three quarters. Vasanth Kumar, managing director at Lifestyle International, said, "Brands have realized that there is no point having disruptive pricing for just one channel since it affects their overall sales, especially at standalone stores. While this kind of price parity helped generate demand across channels, discounting is restricted to old merchandise in our stores." Major online players such as Amazon and Flipkart clocked record sales during last week's sales.
