Retailers, FMCG cos gear up to cash in on I-Day

Retailers and consumer product companies are trying to cash in on the loosening of purse strings by Indians while celebrating the 64th Independence Day by offering discounts and gifts.

From sugar to car servicing firms, many companies, including Big Bazaar, Croma, Mahindra First Choice and Kaya Skin Clinic are offering discounts in a bid to ride on the festive fervour.

V Mart on the other hand is offering up to 64 per cent discounts on any purchasing to mark the Day.

Besides these firms, Cantabil Retail is offering a flat 80 per cent discount on Cantabil brand and 90 per cent discount on La Fanso Brand, while consumer electronics maker Videocon and LG are wooing customers with exchange offers, freebies and exiting finance schemes.

LG for instance is offering a Rs 63 downpayment scheme along with interest free installments on the purchase of its products.

"This is a national festival and a time when people want to come out and shop. Retailers are trying to capitalise on that by providing discounts and offers," Infiniti Retail Ltd, managing director and CEO Ajit Joshi told PTI.

Infiniti Retail expects to register 20-30 per cent more sales during the month long Independence sale titled as 'Non- Violence Sale', he added.

"For company like ours dealing in technology products, it is a good time to offer discounts to get the old stock out as most of the new launches will happen from September," he added.

Similarly, Kishore Biyani-promoted Future Group is running its 'Mahabachat' offer at all the Big Bazaar and Food Bazaar stores across all product categories, including food, apparel, kitchenware, electronics and gold jewellery from August 11 to 15.

Big bazaar general manager (Sales & Merchandise, North Zone) Vineet Jain said the retailer is offering products at a much lower price, as product cost increase in its stores are 5.8 per cent less than the hike seen in other general trade.

Skincare provider Kaya Clinic is also offering special Independence Day packages for customers with up to 50 per cent discount on fresh treatments for the August month, which are otherwise priced around Rs 2,000.

"We have come up with exciting offers for the first time at our clinics as this is the onset of the festival season and we expect good business," Kaya Skin Clinic, marketing head Suvodeep Das said without sharing details.