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retail | IST

Clocked over 20% growth during festive season, says Croma

Retail chain of consumer electronics, Croma, has witnessed a more than 20 percent growth during the festive season, Mayank Sangani, head of operations of the stores, told CNBC-TV18. Sangani clarified that healthy growth did not come at the cost of margins.
“This festive season we have grown in excess of 20 percent and 8 percent is the same store growth that we keep benchmarking,” said Sangani.
“What is working for us is that we constantly do online price bench-marking and we have taken some new initiatives like three-hour delivery, life-time service, assurance for the customer and some special privilege programme for our existing base,” he added.
He said financing this festive season has been very easy, topped-up with cashbacks from HDFC Bank, Bajaj Finance and IDFC First. “In fact, 45 percent of our business happened from EMI instalments."
Talking about regional growth, he said North did well followed by South and West.
“This month has largely been around appliances and smartphones followed by panels. Because of weather conditions, the air conditioner demand was sluggish and postponed but see pent-up demand coming in November,” Sangani said.