The two retail companies picked are Walmart and Costco whose 2017 Financial statement links are provided below: WALMART https://www.nasdaq.com/symbol/ wmt/financials?query=income- statement COSTCO https://www.nasdaq.com/symbol/ cost/financials?query=income- statement Both organizations are well known brands and position themselves well with their customer base. Walmart’s value proposition is “We save people money so they can live better”. On the other hand, Costco’s value proposition is “All-in-one convenience and everyday affordability”. Both retailers focus on cost saving for their customers. Looking at their financial statements and by analyzing them a few key areas are evident when comparing the two organization. Looking at the current ratio and quick ratio we can determine the short-term solvency of each organization. The current ratio can be determined by dividing the assets by the liabilities. Walmart’s current ratio sits at 0.86 while Costco’s sits at 0.99. The quick ratio is c...
While making up your mind to buy any consumer durables, better not to go for the product that has come to market lately. Even it is backed by renowned brand name or company of repute. In India, time and again it is observed many companies try off line products (the products which they do not manufacture), and subsequently abandon it, leaving their customers to meet their fate. So happened, when Philips started selling fridge decades ago. It was not a successful venture for them, so they stopped. Imagine the plight of those who bought their fridges being wooed by Philips brand name! With Indian consumer protection laws being elusive, the gullible consumers are treated like guinea pigs practically.
My recent experience with kitchen chimney manufactured by Bajaj Electrical Products is equally bitter. From their web site it appears that they too have abandon their chimney venture. It was in the month of March I bought their kitchen chimney from one of the Kolkata’s most reliable show room Great Eastern, on B.T.Road, Kolkata. On the counter I was told that, the company would take care of fixing it against extra payment. The trauma started when I contacted the company for fixing it in my kitchen. What transpired from their brief conversation, I have to call in carpenter, mason, welders to fix it and their men would come to join the exhaust pipes! I contacted the shop where from I bought it, they denied having made such promises! I requested them to take it back deducting their delivery and pick up charges. A penalty for my naivety is justified. They did not agree. Finally I managed to fix it somehow with the help of a local contractor; Bajaj’s man came and joined the pipes only. They sold the pipes at a premium.
Six month only have past, the pipes loosened from the chimney, neither the chimney works properly. I contacted their local service centre, they promised to send their man. A week past, he is still awaited.
My recent experience with kitchen chimney manufactured by Bajaj Electrical Products is equally bitter. From their web site it appears that they too have abandon their chimney venture. It was in the month of March I bought their kitchen chimney from one of the Kolkata’s most reliable show room Great Eastern, on B.T.Road, Kolkata. On the counter I was told that, the company would take care of fixing it against extra payment. The trauma started when I contacted the company for fixing it in my kitchen. What transpired from their brief conversation, I have to call in carpenter, mason, welders to fix it and their men would come to join the exhaust pipes! I contacted the shop where from I bought it, they denied having made such promises! I requested them to take it back deducting their delivery and pick up charges. A penalty for my naivety is justified. They did not agree. Finally I managed to fix it somehow with the help of a local contractor; Bajaj’s man came and joined the pipes only. They sold the pipes at a premium.
Six month only have past, the pipes loosened from the chimney, neither the chimney works properly. I contacted their local service centre, they promised to send their man. A week past, he is still awaited.
Comments
I can fully understand your predicaments,As I am one of the victim of leading brand of Computer makers dumping their unsold products Ex China as Unique & new launches but very shoddy product & after sales services within warranty with huge & systematic network of racketers to fleece our money & then they treat you like thieves, Hence Consumer of Customer is neither King nor God in this country anymore.
This is clearly happening also because, As a developed or developing country, there is no Law / rule of [guaranteed minimum 5 or 10 years ] after- sales-Services with spares, after they cease or foreclose / closure of manufacturing & distribution of any such articles in this country.
Hence cool y, after some time , I believe at this rate, INDIA can become a safe dumping ground for all such shoddy products with initial seed marketing of left over stock lots & on failure to take off, abandon it with customers, making them trustee to hold their products for years to come.
This is one of the Deceptive -Trade Practice & believe, the concerned agencies are aware of it & may take action.
I am sure this blog of ours will become an alarm bell for our other brothers & sisters world over to read & seek justice accordingly.
AVI