Flipkart is seeing a big jump in the number of purchases made by customers using credit facilities
Flipkart | (Photo: Shutterstock)
E-commerce company Flipkart on Saturday said it saw a multi-fold increase in customer purchases using credit facilities during the first two days of its annual festive seasonal sale ‘The Big Billion Days’.
The Walmart group company recorded a 27x increase in usage of third-party Easy Monthly Installments (EMI) during The Big Billion Days compared to typical business days.
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“With 5 percent cashback on every purchase made with the Flipkart Axis Bank credit card, the co-branded card witnessed a 20x spike in total spend and eightfold transactions compared to the non-sale days. Flipkart Pay Later EMI was witnessed an 8.5x spike in the number of daily transactions compared to the pre-TBBD period,” the company said.
Flipkart said it has recorded over 330 million user visits, representing repeat visits by individuals multiple times on the platform, during the first two days of The Big Billion Days (TBBD), which started on September 26 for select users and will continue on day for everyone.
The company has counted both September 26 and 27 as Day 1 of the festive sale. It did not share the number of unique visitors to its platform.
In the initial trends, Flipkart observed growing demand in the mobile, food and nutrition and care categories, as well as an increase in demand from tier 2 and beyond.
Flipkart Group’s hospitality platform Cleartrip recorded a 2.5x increase in total users compared to the pre-festive season. The company claimed that flight and hotel bookings increased three times and four times respectively, with popular destinations including Goa, Amritsar, Nainital, Varanasi and Mussoorie.
“Shopsy, Flipkart’s hypervalue platform, saw a 70 percent increase in customer visits and a 2.8x increase in transactions compared to the pre-festive season,” the company said.
The e-commerce company claimed that Flipkart Wholesale witnessed two-fold growth during the early entry into Big Billion Days, led by three-fold growth in the FMCG categories.
Along with the increase in demand from top metro cities such as New Delhi, Kolkata, Hyderabad and Bengaluru, Flipkart claims to have seen demand from customers from Medinipur, Hisar, Berhampore, Bankura and Agartala, among others.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First publication: September 28, 2024 | 10:51 PM IST