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Sharaf DG slashes prices to boost sales

by Stuart Wilson, Monday 30 March 2009

UAE retail powerhouse Sharaf DG has embarked on a bout of heavy discounting to kick start sales at its Times Square Centre store in Dubai. Sharaf has worked closely with vendors to launch its first ever sale on kit including laptops, mobile phones, cameras, televisions, IT products, home appliances and other electronics. The sale saw the ticket price on some items slashed by up to 70%.

The Sharaf DG sale provides further evidence of the slowdown in consumer activity that is forcing vendors and retailers to work harder and employ innovative tactics to drive sell-out to end-users. The Sharaf DG sale led to a sharp spike in turnover at the retailer’s Times Square Centre outlet, with revenues up fivefold on the daily average.

Nilesh Khalkho, CEO at Sharaf DG, commented: “In the current economic climate, consumers are reluctant to spend, but if given an excellent ‘value for money’ bargain, they are willing to reach into their pockets. Competitions and other sales gimmicks are no longer of interest. Traditionally due to very small retail margins, electronic retailers have been unable to offer large discounts.”

“However as a first time initiative in this region, Sharaf DG negotiated with its vendors and is providing unprecedented offers and discounts on a select range of products. In the recessive market conditions, we are giving customers something to smile about,” he added.

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November, 2019

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