V2 Retail's GST Gain: Sub-₹1K Focus Fuels Diwali Footfall Surge | Akash Agarwal | Business News - video Dailymotion

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00:00and to discuss the same we have akash agarwal whole-time director and ceo v2 retail and this

00:08is something which is beneficiary because sub 2,500 apparels will definitely get impacted

00:16mr agarwal welcome to et now my first question to you what is your assessment with 90 to 93

00:23percent of your portfolio priced below 1000 mrp what have you shared with us during the last

00:31interaction how much of the impact do you think today's gst rate rationalization will have

00:37specifically on your company yeah hi good afternoon thank you for having me so we don't have a direct

00:44impact like you said because most of our products are already in the lowest tax bracket but it should

00:50act as a demand catalyst because at the end of the day it's about providing value to the consumer

00:55so if they have more money left to spend so that means they will do more purchases so hopefully

01:01more disposable income and the savings that they make in all the other categories like automobiles

01:08home appliances uh you know translates into better sales and better say uh footfall numbers for us

01:15hi akash this is ankita also joining in uh akash do you expect the gst hike on the apparel above

01:22uh you know 2 500 rupees to indirectly benefit v2 given your stronghold in the sub thousand rupees

01:29uh value fashion segment i don't think there will be a lot of benefit there because customers who are

01:36buying for apparel for more than 2500 they wouldn't move to buying apparel which is you know sub 1000

01:43but again uh because the of the gst reduction from the thousand rupees till the 2500

01:49rupee mark then the customer has more money to spend and it is all the savings that they're making

01:55in that segment that should translate into more purchases and that should benefit v2

02:00right our prime minister naren modi has termed today's event as the budget mahusav and with keeping

02:09in that in mind and you have 90 percent of your stores in tier 2 tier 3 cities uh do you think

02:16there will be a rub-off effect which you'll benefit i think it was much needed like last two years there

02:23was a lot of demand pressure both rural and urban so this is a diwali bonanza for the customers and

02:29the companies as well and uh we are very positive about it and hopefully it translates into numbers

02:35because next three months are going to be the biggest months for us in terms of sales

02:39and uh store openings so we are very very positive and we hopefully we can deliver good results

02:46also as you're scaling nationally now uh with affordability as your anchor do you plan to

02:53broaden the assortment or shift the mix towards the mid-range products

02:56we want to completely focus on our strengths so our average selling price is around 300 rupees

03:03and that is the sweet spot with the customers as it's a very price sensitive group and we want to

03:09add uh designs and assortments in terms of the same categories so we want to increase the width of each

03:16and every category and provide the best product to the consumers but uh we don't want to change

03:21the price segment or we don't want to premiumize too much because uh i think we've hit

03:26a sweet spot with our business model all right uh mr agarwal thank you so much for joining with your

03:32views at this hour with this uh it's time to shift focus

V2 Retail's GST Gain: Sub-₹1K Focus Fuels Diwali Footfall Surge | Akash Agarwal | Business News

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