This year, January-June 2017 were not typical months. There was a major spurt in sales, as the brands in anticipation of GST, around June 15, announced price slashes of 20 to 40 percent in a bid to clear their old inventories. The discounts varied, depending on the life of the old stock and the cost price. The street prices, which are generally 10 percent to 15 percent lower than maximum retail price, went down by threefold. Additionally, some brands came up with promotional offers, gifts, extended warranties, and EMI schemes on select products.
Online companies too hosted Pre-GST Sales, offering massive discounts, exchange schemes, cash-back offers, and no-cost EMI options.
It is estimated that the TV sales in the period January-May 2017 were a mere 10 percent higher than January-May 2016. However, in June 2017, the sales was higher by 50 percent as compared to the same month last year, and all the sales happened in the last two weeks of the month.
Industry experts have commented on impact of GST on TV sales, an imminent price
war in the making, viewing trends, online versus offline sales trends, and outlook
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