Ajay Seth , Head – Sales and Services , Panasonic India
As the effect of GST is now getting settled, the festive season can see more numbers of dealers as companies are expecting to increase their stocks. Manufacturers and dealers both are aiming for the profit and looking for better revenue.
With the arrival of the festive season, the consumer durable companies have geared up to boost sales and revenues using various marketing strategies. The festive period is traditionally considered to be the busiest buying period contributing to high sales in the industry.
The festive season has always been a profitable period for all companies and this year the market is expected to grow by 15 percent. By strategically implementing marketing plans, companies provide consumers with various attractions and offers. Promotional offers, exciting discounts, and freebies, help the home appliance industry to leverage number of consumers.
Offers and product planning by the consumer durable companies cater to the customer demand and expectations. Most of the consumer durable companies started their festive offers with Onam and received a tremendous response. We at Panasonic also achieved a decent growth of about 30 percent. In addition, before implementation of the GST, we launched offers for our consumers for our smartphones, home appliances, and TVs category, which helped us achieve 40 percent growth in the month of August.
To add cheer to the festivities, Panasonic unveiled India Ka Tyohaar. Panasonic Ka Uphaar and Maha Phone Utsav for its home appliances and smartphone category, respectively. Both offers give consumers the opportunity to celebrate the ongoing festive season by availing exciting offers and incentives on Panasonic’s wide range of products. With 99 years of legacy and celebration of Japanese technology, the highlight of the offer is the 99 on 99 finance offer, and the consumer will be able to buy products with only `99 down payment and the balance in 15 equal installments. Valid till October 22, 2017, we are also offering assured gifts, extended warranties, and discounts along with the finest TVs and home appliances for customers. We are also popping out great discounts on washing machines and televisions segments as well. To support sales, we have launched new TVC of Smartphone, washing machine, and television. The campaign is conceptualized for engaging more consumers and highlights the features and Japanese technology of our products. Getting advertised amongst all media platforms, whether in TV, print, etc., gives positive response from consumers during this period. Moreover, we are also offering assured gifts, extended warranties and discounts on our products. During this festive season, we have also expanded our smartphone range by launching Eluga Ray 700 and Ray 500. Both the phones have remarkable camera features and help users to capture perfect festive memories.
When it comes to the performance of the product, we believe that TVs and washing machines will take the front seat. However, we are also expecting high growth in kitchen appliances, beauty care, and wellness products such as air purifiers and water purifiers. With the festive season at its peak and a good monsoon, we can see demand rising from both urban and rural areas.
As the effect of GST is now getting settled, the festive season can see more numbers of dealers as companies are expecting to increase their stocks. Manufacturers and dealers both are aiming for the profit and looking for better revenue. There was slower engagement with dealers post GST implementation, as the prices of most of the stocks were affected. Manufacturers are not only looking
at metro cities, but are expanding their reach to
Tier-II cities as there has been an increase in demand of customers from these areas.
We received an overwhelming response last year from across India during the festival season. We expect the same to happen this year. With new launches and festive offers, we aim to grow by 30–40 percent this festive season. As we move closer toward completing 100 years of Panasonic, we want to ensure that our customers rejoice with every purchase and get the maximum of our Japanese technology and products. The offers will allow us to establish a strong customer connect and be part of the festive celebrations.