Mangoes can be bought on EMI; A businessman with a new idea

Now there is an option to buy anything on EMI. ‘Buy Now Pay Later’ is a popular option as you can buy now and pay later. It is a reliable way as all the goods are now available on EMI. Mango is the star of the market in the months of April-May. Now what if you get mango in EMI?
There is a vendor in Pune who sells mangoes on EMI.

Mango, the king of fruits, fetches high prices all the time, especially during the season. Alphonso, a trader in Maharashtra’s Pune district, offers customers an opportunity to buy mangoes in equal monthly installments or EMIs.

If refrigerators and air conditioners can be bought in installments, why not mangoes? Says Gaurav Sanas, owner of Gurukripa Traders and Fruit Products. Alfonso or “Happus” mangoes from Devgad and Ratnagiri in the Konkan region of the state are currently fetching a market price of Rs 800 to Rs 1300 per kg in the retail market.

Sanas claims that his outlet is the first in the country to sell mangoes on EMI. Mango prices are always very high at the beginning of the season. We thought that if refrigerators, ACs and other home appliances can be bought on EMI, why not mangoes? If this is also made into EMI, everyone will be able to buy mangoes, says Sanas.

The procedure for buying from Mango outlet on EMI is similar to buying mobile phones in installments. Customers can make purchases using a credit card. The purchase amount can be converted into EMI installments of three, six or 12 months. But this opportunity is available only after making a minimum purchase of Rs 5,000. So far, four customers have taken advantage of this opportunity, Sanas said.

At the outlet, Sanas has installed point-of-sale (POS) machines from a financial technology company. It allows credit cards and some debit cards to convert the bill amount into EMIs of three to 18 installments.

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According to Sanus, a box of Devgad happus costs around Rs 4,000 (Rs 600 to Rs 1,300 a dozen). A customer who is not shy about paying the amount upfront can opt for an EMI to pay the amount in six installments of Rs 700 inclusive of the conversion charge charged by the bank.

Earlier this month, Hapus or Alphonso mangoes were trading at half the price of last year in the wholesale markets of Maharashtra. Traders say the price of the popular fruit has fallen due to increased arrival of mangoes from the Konkan region.

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