Electronic showrooms witness spike in demand this Diwali
   Date :11-Nov-2019

THE fast moving consumer goods witnessed pick-up in demand during the festive season this year. Some of the leading electronic showroom owners in the city said that this festive season was challenging as negative sentiments were strong regarding consumer spending due to the slowdown in the economy. Beating expectations these showrooms managed to registered growth in demand as compared to the previous year.
 
“Overall it was a good festive season. We managed to register a growth in demand of 10 per cent to 15 per cent as compared to the previous year. Heavy discounts and lucrative cash back offers by big brands and finance companies were some of the main reasons that attracted consumers and pushed demand above our expectations,” said Nihar Taori of Taori Marketing while speaking to The Hitavada.
 
He said that during the five days of Diwali there were above average footfalls. People were buying large size LED TV panels and high end side by side refrigerators which saw heavy demand. Big size LED TVs from 43” to 77” with prices ranging from Rs 28,000 to Rs 12 lakh were bought by the consumers.
 
Although there was fierce competition from online stores during the festive season, it did not impact demand for large electronic products like LED TV panels, refrigerators, washing machines, dishwashers and household appliances, he said. Also, big brands offered heavy discounts to woo the customers with prices matching or lower than online market places. To help boost demand the finance companies played an important part as they rolled out heavy cash back offers and vouchers which boosted demand of electronic products. “The finance companies are considered the backbone of retail trade as they played an important role in pushing demand,” Taori said.
 
There are various benefits of shopping at brick and mortar stores compared to online stores. Consumers get to experience the ambiance of large showrooms, feel and touch the products and take immediate possession at the time of making purchases. Also, the customers get first hand information and minute details by experienced staff, wide choice, compare products, take actual demonstration of products, warranty, after sales services and best finance options. This is only possible at brick and mortar stores where special care is taken to satisfy customers in every respect according to their requirements, he said. With the marriage season, Christmas and New Year arriving the demand for electronic products will continue.
 
Gaurav Pahwa of Lotus Electronics said that the demand for electronic products was good with a growth of 10 per cent to 15 per cent at his showrooms as compared to the previous year during the same period. Attractive offers from leading electronic brands, finance companies and credit cards helped push demand.
 
Ved Prakash Jaiswal of Vedoms, Dharampeth said the buying mood of the customers was intact this Diwali season. The demand for electronic products like LED TV panels, mobiles, washing machines, chimneys and small appliances was average as compared to last year.
 
Jivan Shivnani of Fairdeal said this year the demand for electronic products picked up gradually from Dhanteras and increased its momentum near Diwali. The five days of Dwiali witnessed good footfalls. Fairdeal showrooms witnessed overwhelming demand this Diwali season and registered a growth in demand of 15 per cent to 20 per cent as compared to previous year, he said. D M Kodwani of Deepika Enterprises, Pratap Nagar said that his shop witnessed above normal footfalls. There was an up tick in demand for TVs and refrigerators.