Rising tech costs drive EMI sales; Shadowfax Q2 profit soars
Happy Friday! Shoppers are turning to EMIs as electronics prices rise. This and more in today’s ETtech Morning Dispatch.
In the recent ETtech Morning Dispatch, shoppers are increasingly resorting to EMIs (equated monthly instalments) and buy-now-pay-later (BNPL) options due to a surge in electronics prices. This trend is particularly noticeable during the festive season, as retailers strive to maintain demand amidst rising costs. In Karnataka, Andhra Pradesh, and Telangana, Pai International Electronics witnessed an increase in EMI-based smartphone sales from 40-50% last year to 70-80% this festive season.
Similarly, Vijay Sales, with 181 stores nationwide, reported EMIs accounting for 70-75% of their festive-season sales, up from around 40-50% in the previous year. The price hike is attributed to a surge in memory chip prices, depreciation of the rupee, and higher freight costs, impacting laptop prices by nearly 35-40% and mobile phone prices by 25-40%.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
