Kozhikode: Traders lure buyers with Onam offers

Kozhikode: Offers and prizes are raining in the market this Onam season due to the fall in demand with India's consumption story in the doldrums. Traders, one after another, have come up with dazzling offers to attract buyers back to the market, from chicken stalls to luxury cars. LED TVs are the most sought after this season after a cut in the GST from 28 to 18 per cent.

"Initially, customers were not confident enough to buy LED TVs due to poor feedback," said Vaseem Ahammad, director of Kannankandy Electronics and Home Appliances store.

"But this time almost all the companies are providing a full warranty for up to four years."

As usual, the prize coupons are another attraction. All major marketing groups are offering scooters, bikes, cars and many more as prizes of lucky draw competition.

Small kitchen appliances like pressure cooker carry up to 60 per cent discount on MRP. Almost all the products, including air-conditioners, have extended offers up to Sept 30.

"We have combo offers running now, a kitchen hood with the stove or a Panasonic rice cooker comes for free with a few of the products," said Shinod Kumar, store manager of Faber Kitchen Appliances, YMCA, Kozhikode."Earlier offers were up to 30 per cent only. Now, for the same products we provide 40 to 50 per cent as Onam mega offers," he said.

But many senior market players see the increasing number of offers as a symptom of a slowdown.

"There is a steep decrease in the Onam sales compared to last year,'' said CE Chakkunni, chairman of Malabar Development Council.

"Earlier there was only Rs 50, 000 discounts for an international car brand which had increased it to Rs 1.5 lakh as there were no sales. Even though offers are plenty, flood and economic instability have shunned the trade."