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Online channels captured a record 58% of smartphone sales<\/a> in the third quarter of the calendar year that includes the festive season, according to an IDC<\/a> India report. While the growth in the online channel remained flat, sales in the offline segment fell 20% on-year on low demand and aggressive pricing on ecommerce platforms, IDC added.
Another report by Strategy Analytics<\/a> saying three top three brands tilted towards ecommerce stores where the majority of their sales happened backed IDC’s findings.
\"Retailers in the offline segment managed to tide over the festive season on the sales of high-end premium smartphones, where the discounts were not that significant in the online channels. A major role in keeping the brick-and-mortar stores alive was the provision to take GST input credit, which was not available in online channels,\" said Navneet Pathak, general secretary, All India Mobile Retailers Association<\/a>.
GST input on a high-value product brings down the cost of acquisition significantly, encouraging customers to buy from offline stores, Pathak said.
However, online channels delivered deep discounts to compete and win over customers, alleged offline players that ET spoke to. For instance, a premium device launched in 2020 and with an MRP of nearly Rs 60,000 was available on an ecommerce platform during the festive season sale for under Rs 39,000. On top that were additional exchange offers along with bank financing.