With just a few days left for the roll out of Goods and Services Tax (GST) in India, discount and clearance sales across online platforms and even traditional offline retail stores have gained popularity. Online sites like PayTM have announced Pre-GST Clearance sales on goods such as electronic appliances, smartphones, and apparels.
According to a recent post published on The Indian Express, retailers are probably looking at lower margins on certain products considering the fact that the net tax incidence is expected to be higher starting July 1. Also, the shopping portals seem to be concerned about paperwork involved with existing stock.
Goods such as air-conditioners are available with discounts ranging anywhere between 10 and 40 per cent , while some apparel companies are offering discounts as much as 50 per cent. The portals are also introducing flash sales to clear out slow-moving inventory, explains The Indian Express.
However, the best among all is the Pre-GST Clearance Sale enlisted on PayTM until June 15, which offers discounts as much as 80 per cent over certain products. Also, the shopping portal is offering cashbacks and even a chance to win Apple iPhone 7 on minimum purchase of Rs 1,000. Users can also avail cashbacks of up to Rs 20,000 on purchasing DSLRs, televisions, laptops, and air conditioners.
Adding further, PayTM’s clearance sale has listed out iPhone 7 with 32 GB storage for just Rs 45,366. This means that the Apple iPhone 7 is available at a discount of 24 per cent considering its MRP of Rs 60,000. The shopping portal also gives Rs 5,750 as cashback, which brings down the selling price of iPhone 7 to Rs 39,616.
The same way, iPhone 7 Plus is available for Rs 59,000 after a discount of 20 per cent and a cashback of Rs 7,000. Similarly, MacBook Air comes with a price tag of Rs 67,398 after offering 22 per cent discount and Rs 8,000 cashback.