HK Electronics, Ambala
Brands Retailed: LG, Samsung, Godrej, Whirlpool, Panasonic, Haier, Videocon, and Kelvinator
Annual Turnover (2016-17): Rupee; 12 crore
Projected Turnover (2016-17): Rupee; 20 percent
The market was not profitable for us in 2017. Demonetization had affected business, H2 was expected to be good, but we are witnessing decline in sales. After GST was rolled out, the market scenario further hurt the business; robust growth is anticipated in 2018 due to reduction in GST tax rates for electronics. Television sales are expected to increase next year in our region. Market for larger than 32-inch screens is expected to grow owing to the increase in number of channels and consumer’s demand for better quality picture.
Aroma Airconditioning, Ahmedabad
Parikh Unmesh Arunkumar
Brands Retailed: LG and Voltas
Annual turnover (2016-17): Rupee; 45 crore
Projected Growth (2017-18): Rupee; 25 percent
Rising temperature is driving the demand for both ACs and refrigerators for us. Though we are facing tough competition from online retailers, reduction in GST tax rate is keeping our hopes high for the next financial year. Huge investments in the electronics industry and various schemes by the Government should propel growth. Our strategy for the coming year would be to focus on discount offers and easy finance options for consumers.
Saniya Distributors, Aurangabad
Brands Retailed: Videocon Group Brands
Annual turnover (2016–2017): Rs. 3.7 crore
Projected Growth (2017-18): Rupee; 15 percent
2017 has been a roller coaster ride for the Indian economy, thus impacting the electronics industry significantly. GST and demonetization were the key factors which slowed down sales. Even the festive season was not helpful in matching the revenue of last year. Coping with demonetization and current price hike on products due to GST and increase in the price of raw materials are still a challenge for us. Consumers opting for online retail is only compounding our challenges. 2018 might bring some required changes but we doubt it will be lucrative at all. We are expecting flat growth in 2018 as well.