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Levi’s marketing gimmick has worked well to be continued. Its programme in association with HDFC Bank and Axis Bank Ltd has been popular with users of their credit cards. “As many as half of them have availed of the facility. The average bill size has increased by 60 percent,” said Shyam Sukhramani, marketing director, Levis, as per media reports.

Recently, Provogue Ltd (India) also announced its association with HDFC Bank Ltd for an interest-free EMI scheme. Under this scheme, customers who purchase merchandise of at least Rs1, 500 from any Provogue Studio outlet using an HDFC Bank credit card will be able to pay the bill in three EMIs.

In fact, Marks and Spencer Reliance Pvt. Ltd, Spykar Lifestyles Pvt. Ltd – single brand retailers, and Shopper’s Stop Ltd – multi-brand and category retailers, are considering similar offers. On this, as per media reports, Nandini Sethuraman, marketing head, Marks and Spencer said, “In a value-conscious market, the facility will make brands more accessible to consumers.”

“This is a good time to launch an EMI facility as liquidity is tight, interest rates are high and market sentiment is low. EMI facilities at the low end for organized apparel retail will work in India,” said sector experts.
Also, Anand Raghuraman, partner and director, Boston Consulting Group (BCG) said, “I have not seen EMIs being offered at the mass end and this can surely uplift apparel retail in India,” as reported by media.

However, everyone is not convinced about EMI schemes, Rajiv Jain, chief executive officer (CEO), Bajaj Auto Finance Ltd said, “The ticket size is too small. It’s a tough business to crack.” Bajaj Auto Finance Ltd is one of the India’s largest consumer finance firm.