As the sales volume will always be more during EOSS, technology plays a major role in managing more customers in less time says Bhaskar Venkatraman, Founder and CEO of JusTransact.com.
End of Season Sale (EOSS) has been a hit sales strategy among retailers. How do you analyze the evolution in terms of consumer purchase trend?
EOSS is generally perceived as a stock clearance sale by retailers who have new stocks piled up for the upcoming season. The sales strategy is still a dominant force among retailers to attract customers. However, not all customers wait for such sale opportunities to make purchases. As the purchasing power of the common Indian has gone up considerably, quality rules over other sale attractions like festival or off-season discounts strategies. Though we still see considerable rush when such sales happen, consumers weigh upon the quality of products on offer before opening their purses.
Online retailers offer whopping discounts with sales going on throughout the year. How different is the EOSS sale at a physical retail store as compared to the online EOSS?
By offering convenience to shop and other customer-friendly features like COD, free-home delivery and easy return options, online stores clearly have an edge over its mom-and-pop counterparts. Online stores offer anytime and anywhere purchase option compared to brick and mortar type where one has to be physically present while making purchases. Even though online stores run discount sale, one can effortlessly make comparison with similar sites to decide the best offer. This is, however, not an easy proposition with mom-and-pop stores. Physical retail stores give the consumers option to pick and choose the best available products, whereas online shoppers have to choose from the displayed products without getting the look and feel of it.
How are the promotional initiatives planned for this EOSS?
Compared to other retail businesses, our peak season sales vary between September to January. As lot of festivals happen during this period, we plan our sales strategy in advance and introduce discount, exchange offers and other sops to our customers. We reach out to them with offers via direct marketing, through emails or social media initiatives.
How have you promoted your EOSS through social media? What strategies have you used for the same?
We promote our products through social media websites by way of attractive banners on product offers, contests, new product updates and videos.
What has been your discounting strategy for this EOSS?
We understand that customers are our brand ambassadors and are well informed about products and prices. We fix the discount price of products and ensure that they remain the lowest in the market.
For your brand, how this season of EOSS has fared till now?
We market the leading POS brands to Indian retailers through our portal. We have been successful in our previous discount and offer initiatives on various occasions with the latest ones being the exchange offer on color label printers and discount offer on world's leading POS machines. We have our plan ready for the upcoming EOSS.
What new strategy have you adopted this season which was not present last season? What benefits did you received out of it?
As the peak season is going to start for us, we are geared up to meet the demand for POS machines and solutions
from retailer community. The strategy to be adopted this time will be aimed at making small and medium retailers automate their POS counters. We have planned to reach out to millions of unorganized retailers directly through various available options.
What's the future of such sales strategy?
EOSS is good for those who are waiting to purchase items at discounted prices. It will be a win-win situation for both the seller as well as the buyer.
What changes have you roped in with reference to technology in retail? Are there some changes in usage of technology during EOSS as compared to normal times?
As the sales volume will always be more during EOSS, technology plays a major role in managing more customers in less time. Retailers offering EOSS generally get the support of technology such as POS machines which include hand-held devices
, mobile POS
, tablet POS
, cloud POS
etc., to reach out to customers. Customers too are happy as they don't need to spend time in long queues to buy things.