Wednesday, February 21, 2024

Say farewell to festival discounts

If you’ve been coveting that 32-inch LCD television for long, waiting for the festival discount to buy it, chances are you will be disappointed.
Many manufacturers, hemmed in by input cost pressures, have decided not to offer discounts or free gifts this shopping season. In fact, some of them even intend to hike prices soon. Samsung, LG and Philips are among the durables makers who have decided to not give any freebies.
V Ramachandran, director, marketing, LG India Electronics Pvt Ltd, said, “LG as a company has moved away from discounts. Innovation and good customer services will be our focus. Besides, the input costs have gone up significantly and we have not been able to pass it on to consumers completely. Plus, the dollar-rupee dynamics have badly impacted our import costs.”
Philips India, which has been big on gifts, discounts and combo deals all this while has decided to strictly rely on its brand to bring in the sales.
“Although it has become customary in our country to offer gifts during Diwali, our strategy has changed and is not about deep discounting,” said Vivek Sharma, chief marketing officer, Philips Electronics India Ltd.
Samsung India has followed a similar drastic change in its strategy. “Giving a jug or iron cannot change the product profile, customers are looking for decent prices rather than discounts,” said R Zutshi, deputy managing director, Samsung India.

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