Manu
Contributor
- Joined
- 2 Aug 2015
- Messages
- 2,365
- Reaction score
- 2,425
MUMBAI: Best Deal TV, the home shopping television channel owned by Bollywood actor Akshay Kumar and celebrity couple Shilpa Shetty and Raj Kundra, has become a casualty of demonetisation. The company has decided to suspend operations of the standalone channel for two months or so as it has seen a drastic fall in business that works on the cash-on delivery (CoD) model.
Scrapping of Rs 500 and Rs 1,000 notes has squeezed the home shopping business, said Hari Trivedi, chief operating officer, Best Deal TV . "The CoD business is negligible due to very high currency crunch in the market, thereby impacting the call flow," he said.
The company, which sold products worth Rs 4.5 crore in October, saw business shrink to less than Rs 1 crore in November. "Our overall business is not even 20 per cent of what we achieved during October 2016," Trivedi said.
He added that investment sentiment is negative for the home shopping industry ."As per the various reports and economic surveys, we feel that the situation is not likely to improve for the next two to three months at least. Owing to this scenario, companies in the home shopping channel category , including us, are not able to meet internal fixed expenses to the extent of even 30 per cent."
Best Deal TV has decided to put operations on hold for the next 45 to 60 days, suspending operations "temporarily" in terms of media activity, call centers, etc.
Trivedi said the company will take a call on the future after this period.
Demonetisation forces celebrities-owned channel to go off air - The Economic Times
Scrapping of Rs 500 and Rs 1,000 notes has squeezed the home shopping business, said Hari Trivedi, chief operating officer, Best Deal TV . "The CoD business is negligible due to very high currency crunch in the market, thereby impacting the call flow," he said.
The company, which sold products worth Rs 4.5 crore in October, saw business shrink to less than Rs 1 crore in November. "Our overall business is not even 20 per cent of what we achieved during October 2016," Trivedi said.
He added that investment sentiment is negative for the home shopping industry ."As per the various reports and economic surveys, we feel that the situation is not likely to improve for the next two to three months at least. Owing to this scenario, companies in the home shopping channel category , including us, are not able to meet internal fixed expenses to the extent of even 30 per cent."
Best Deal TV has decided to put operations on hold for the next 45 to 60 days, suspending operations "temporarily" in terms of media activity, call centers, etc.
Trivedi said the company will take a call on the future after this period.
Demonetisation forces celebrities-owned channel to go off air - The Economic Times
Atleast they'll get something
Hoping Naaptol Green to replace it 
