With the start of the festive season in the country, auto, FMCG and consumer durable companies are leaving no stone unturned in offering discounts, OTT subscriptions, freebies, and cashback to ramp up their sales.
Companies are using social media to target audiences across age-groups with festive offers, while automobile dealers are offering gift coupons with every vehicle purchase.
“Thomson will provide exclusive offers or early access to sales for their customers or members of their VIP programmes. This will include extra discounts and priority customer service. As the World Cup is coming, we have great offers with OTT platforms,” Avneet Singh Marwah, CEO of SPPL Exclusive brand licensee of Thomson in India, told businessline.
According to ICICI Securities, companies are offering bigger consumer offers, higher trade schemes and discounts with increased competition this festive season.
“Haier is offering EMIs starting as low as ₹994 making it more affordable, 20 per cent instant cashback, zero per cent down payment on selected products, long-tenure EMI up to 24 months with flexibility in payments and extended warranty on selected appliances,” mentions a statement from Haier.
As per an Axis My India survey, 23 per cent of people will shop more during the festive period this year as compared with last year, while 34 per cent of people plan to shop through e-commerce platforms.
“E-commerce continues to play a pivotal role, with an increasing interest in festive online sales. This evolving trend suggests a promising market dynamic. As consumer preferences shape the retail arena, we anticipate a festive shopping spree ahead, reflecting a positive and forward-looking trend,” said Pradeep Gupta, Chairman and MD, Axis My India.
Auto bumper offers
Automobile dealers are offering freebies higher than before to customers to clear inventories.
“The demand for vehicles this festive season is good and is consistent, unlike last year. The dealers are offering gift sets, automobile accessories, and gift coupons this season until November-end,” said Sanjay Jain, an automobile dealer.
High entry-level car inventories are also leading to higher discounts by Original Equipment Manufacturers (OEMs) and dealers.
“The vehicle discounts are crossing new highs, and this festive season will command very high demand discounts,” said Manish Raj Singhania, President of the Federation of Automobile Dealers Association.