Nilesh Gupta, managing partner of Vijay Sales, on Tuesday said that the electronics retail store chain has witnessed a growth of 8 percent in its sales during Diwali.
“Primarily the growth has come because, during the festive season, people do buy consumer durables, electronics, mobiles and appliances and along with that, the discounts are always there with the festive season from brands and retailers,” said Gupta in an interview with CNBC-TV18.
“This year one major difference which took place and got us high sales is the banks, credit card companies and NBFCs did a lot of promotions themselves and did good value cashbacks. I think that’s what tilted sale in this season,” Gupta added.
According to Gupta, 5-6 percent growth would continue in the coming months.
Gupta said that maximum growth during Diwali came from television "for a simple that worldwide the panel prices have come down and due to which the TV prices came down". "The other reason is, a lot of people upgraded to higher screen size because of the content available on over the top (OTT) platform.”