Recent price surges between 30% and 40% have led shoppers to increasingly depend on equated monthly instalments and buy-now-pay-later options to afford goods like laptops and smartphones. This financing trend has shielded major electronics chains from an anticipated drop in consumer demand during the festive period. Chains with extensive footprints, such as Vijay Sales and Pai International Electronics, are recording steep year-over-year expansions in credit-funded purchases.
Key points
Heightened device costs are driving shoppers toward equated monthly instalments and buy-n…: Heightened device costs are driving shoppers toward equated monthly instalments and buy-now-pay-later services.
Accessible consumer financing solutions have helped retailers shield their revenue from a…: Accessible consumer financing solutions have helped retailers shield their revenue from a broader demand slump.
Regional and national retail chains are now generating the vast majority of festive elect…: Regional and national retail chains are now generating the vast majority of festive electronics sales through credit plans.
Sources checked by our analysis pipeline: 1
Bengaluru: With prices of smartphones, laptops and other electronics rising 30-40% in recent months, consumers are increasingly relying on equated monthly instalments (EMIs) and buy-now-pay-later (BNPL) options to make purchases this festive season, cushioning retailers against a slowdown in demand.At Bengaluru-based Pai International Electronics, which operates across Karnataka, Andhra Pradesh and Telangana, 70-80% of smartphone sales during
Soaring tech costs push festive shoppers towards EMIs
Synopsis
At Bengaluru-based Pai International Electronics, which operates across Karnataka, Andhra Pradesh and Telangana, 70-80% of smartphone sales during the festive season were financed through EMIs, up from 40-50% last year, said director Rahul Pai. At Vijay Sales, which operates 181 stores nationwide, EMIs accounted for about 70-75% of festive-season sales.
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