Online discounts to rain heavy from July, ease dry spell of electronics, apparel cos
Online discounts and promotions will peak this month onwards with brands across smartphones, electronics and apparel rushing to clear off unsold inventory ahead of the upcoming festive season and marketplaces such as Amazon and Flipkart lining up multiple sales events.
Industry executives estimate the average online discount in these categories in the forthcoming sales to be the highest since Covid-19 as their sales have been under pressure from January to June.The chief executive of a leading apparel brand said it will clear inventory from 2023 on hefty discounts in the upcoming online sales.
“Apparel demand has been subdued for six quarters now and though the industry has rationalised inventory last fiscal, still there is unsold stock,” he said on condition of anonymity. “Discounts on old stock will be more than last year,” he added.
Avneet Singh Marwah, chief executive of online-focused electronic manufacturer Super Plastronics, said brands are banking heavily on online sales to clear stock as the industry sales growth is badly impacted this year.
Sales Lined up Till Diwali:
“While the quantum of discounts could be the highest since Covid, the net price may be little more than last year due to recent increase in freight and raw material cost which has increased input costs,” he said. High AC sales during this scorching summer has impacted sales of all other categories, Marwah said. Super Plastronics has the licence for brands such as Kodak, Thomson and Blaupunkt in India.
Amazon has lined up Prime Day sales
