Monday, October 30, 2006

Retailers use EMI schemes to attract new customers

The Economic Times reports that taking advantage of younger customer’s willingness to spend, retailers in Chandigarh and Punjab are using EMI and kitty schemes to increase customer spending. The first store to use this method was Genesis Colors, which has brand such as Satya Paul and Samsara. Only a select number of invitees were allowed who can put in a maximum of Rs. 2,000. The success of the concept has led the company to launch the scheme in Pune, Amritsar, Ludhiana and possibly Delhi. Genesis Colors CEO Nalini Gupta, explained the reason for its success,
“We have seen how women, instead of saving for household things, are now keen to spend of designer wear. Also, the desire of youngsters is driving parents to come here and purchase.”

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