Buy luxury products at a bargain
Exclusive brands are going online, and many are offering discounts
For Gurugram-based high net-worth individual (HNI) Nayan Ahuja, the lockdown has been a blessing in disguise. He landed up booking his favourite BMW X3 at a discount of ~9.4 lakh, on a car otherwise valued at ~65 lakh. He says he was also tempted to buy a Harley Davidson bike after he received an email from the dealer offering him an entrylevel model at ~1 lakh less than the original value. Instead, he purchased his favourite Tag Heuer watch from the digital platform of a famous Delhi-based watch retailer at a 10 per cent discount. His golf buddy, too, went online and booked a Chronoswiss being offered at a 40 per cent discount, for ~2.2 lakh.
Expect the unexpected
The brands you chased earlier are now chasing you. Brands that were reluctant to go online are now going omnichannel, from the conventional brick-and-mortar to an e-commerce presence. They are also offering home delivery and concierge services to boot. So, you have “The Merc from Home” campaign by Mercedes-benz India under which customers can avail of special offers and opt for a doorstep test-drive of the model of their choice. Says Saloni Nangia, president, Technopak: “While luxury did not go online as much as the others, they are now working at making their digital presence stronger, while also creating unique experiences online.”
During the past forty days, everyone, from Mercedes to BMW to Jaguar, has put up an online sales platform. Says Gurmeet Singh Anand, managing director, AMP Motors: “We have gone digital and are all geared up to take orders.”
BMW'S 3 Series 330i Msport valued at ~56 lakh (on-road) now has a new, cheaper variant — 330i Isport for ~48 lakh.
The Covid-19 crisis is unparalleled, and so is the commercial response to it. Take the case of Seetu Kohli Home, which houses global luxury brands such as Ralph Lauren, Bentley Homes, Fendi Casa, and Roberto Cavalli Home Interiors. Says architect Seetu Kohli: “Our strategy has always been that of pull and not push. So far, we were reluctant to go online and guarded our exclusivity. Also, there was the fear of imitation and we sold mostly by appointment.” They are now ready to go digital and will start auctions of exclusive products such as the President Writing Desk from Bentley Home, Manhattan Sofa from Roberto Cavalli Home Interiors, etc. Some of the older collections at Seetu Kohli Home store will be offered at discounts of up to 30-40 per cent.
Lucrative deals
With shoppers curtailing their discretionary spending, retailers are trying to tide over this problem by bundling offers around special days, such as Mother’s Day and Akshay Tritiya. Orra is giving price protection under its ‘Swarna Kavach’ campaign. A customer can book gold on the Orra website at the current rate, and collect the jewellery later when the store reopens, without any price inflation. If the price tanks, the buyer gets more jewellery.
This may be a good time to buy upscale furniture and kitchen products. “Our sale is up to 30 per cent,” says Nitin Bahl, managing director, Brandstack India, which represents Natuzzi, Scavolini and Santalucia Mobili for India and the subcontinent. Brands like IAAH (It’s All About Home) have been engaging customers through contests and an ‘online in-home design’ service.
Retailers put SOPS in place
Stores are reworking their layout, providing contactless payment options, sanitising the store and trial rooms, and putting clothes and shipment under quarantine. Says Amit Pande, brand head-the Collective & International Brands at Aditya Birla Fashion & Retail Limited: “Even after the store opens, we will ensure that our extensive set of SOPS (Standard Operating Procedures) are in place.”
Many apparel and fashion brands have started home delivery. Says Narinder Singh Dhingra, chairman, Numero Uno: “The coming months will see a drastic shift towards tech-driven shopping and we want to be prepared for that.”
Experts feel that retail sales will pick up around Diwali. With international travel set to reduce due to the Covid pandemic, the money that would have been spent abroad will be spent here. Says Technopak’s Nangia, “By the time we get to Diwali, we would have either found a vaccine or learnt to live with the situation. Those six months from October to March are what matter as that is where the largest share of business is.”