As the festive season begins in China, automotive, FMCG and consumer durables companies are leaving no stone unturned to boost sales by offering discounts, OTT subscriptions, freebies and cashbacks.
Companies are leveraging social media to offer holiday deals to different age groups, while car dealers are offering gift certificates with every vehicle purchase.
“Thomson will provide exclusive offers or early sales opportunities to its customers or members of the VIP program. This will include additional discounts and priority customer service. With the World Cup approaching, we have great offers through the OTT platform.” Thomson Avneet Singh Marwah, CEO of SPPL, the exclusive brand licensee in India, said Business line.
ICICI Securities said as competition intensifies this festive season, companies are offering bigger consumer offers, higher deal plans and discounts.
“Haier is making it more affordable by offering EMIs starting as low as Rs 994, 20% instant cashback, zero down payment on selected products, long-term EMIs up to 24 months with payment flexibility, on selected appliances of the extended warranty,” said a statement from Haier.
According to a survey by Axis My India, 23% of people will shop more during the festive season this year compared to last year, while 34% plan to shop through e-commerce platforms.
“E-commerce continues to play a key role with growing interest in festive online sales. This growing trend indicates promising market dynamics. As consumer preferences shape the retail landscape, we expect a festive shopping spree in the future , which reflects positive and forward-looking trends,” said Pradeep Gupta, Chairman and Managing Director, Axis My India.
car bumper deals
Car dealers are offering customers higher freebies than before to clear inventory.
“Unlike last year, the demand for vehicles during the festive season this year is good and stable. Dealers will offer gift sets, car accessories and gift certificates this season till the end of November,” said Sanjay Jain, a car dealer.
High entry-level car inventory also leads to higher discounts from original equipment manufacturers (OEMs) and dealers.
“Vehicle discounts are hitting new highs and this festival will bring very high demand for discounts,” said Manish Raj Singhania, president of Federation of Automobile Dealers Associations.