Flipkart sees multifold increase in purchases by credit customers

Flipkart | (Photo: Shutterstock)

2 minutes of reading Last update: September 28, 2024 | 22:51 IST

E-commerce company Flipkart on Saturday said it has seen a multi-fold increase in purchases by customers using lines of credit in the first two days of its annual festive sale ‘The Big Billion Days’.

The Walmart group company saw a 27-fold increase in third-party Easy Monthly Installment (EMI) payment usage during ‘Big Billion Days’ compared to regular business days.

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“With 5 percent cashback on every purchase made using the Flipkart Axis Bank credit card, the co-branded card saw a 20-fold increase in overall spend and an eight-fold increase in transactions compared to the days when there were no sales. “Flipkart Pay Later EMI witnessed an 8.5x increase in daily transaction rate compared to the pre-TBBD period,” the company said.

Flipkart said it recorded over 330 million user visits, which means multiple visits by individuals to the platform during the first two days of Big Billion Days (TBBD), which started on September 26 for select users and the next day for all select users.

The company has designated September 26 and 27 as the first day of its holiday sales. It did not share the number of unique users on its platform.

In early trends, Flipkart has seen rising demand for mobile, food, and nutrition and care categories, as well as an increase in demand in tier-2 cities and beyond.

Flipkart Group’s hotel platform Cleartrip has seen a 2.5-fold increase in its overall user base compared to the pre-Christmas season. The company claimed that flight and hotel bookings increased 3x and 4x respectively, with popular destinations being Goa, Amritsar, Nainital, Varanasi and Mussoorie.

“Shopsy, Flipkart’s hypervalue platform, saw a 70 per cent increase in customer visits and a 2.8 times increase in transactions compared to the pre-holiday season,” the company said.

The e-commerce company claimed that Flipkart’s wholesale sales saw a 2x growth during the early access to Big Billion Days, led by a 3x growth in FMCG categories.

With increasing demand from key metro cities such as New Delhi, Kolkata, Hyderabad, Bengaluru, Flipkart claims to have seen demand from customers from regions such as Medinipur, Hisar, Berhampore, Bankura and Agartala, among others.

(Only the headline and image of this report may have been reworked by the Business Standard team; the rest of content is automatically generated from a syndicated feed.)

First publication: September 28, 2024 | 22:51 IST