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Flipkart's Big Billion Days sees 55% rise in digital payments, over 150% increase in EMI options

As Flipkart concluded its Big Billion Days sale, it saw number of transacting sellers rise 1.5 times compared to last year; over half of the visits for the sale coming from Tier III cities

Rukmini Rao | October 22, 2020 | Updated 00:31 IST
Flipkart's Big Billion Days sees 55% rise in digital payments, over 150% increase in EMI options

The annual festive season sale by Flipkart, The Big Billion Days (TBBD), which concluded on October 21 saw 1.5 times growth in the number of transacting sellers, amongst whom more than 35 per cent saw over thrice the sales compared to last year, said the company in a statement. Even as it added nearly 35 per cent new sellers on its platform, nearly 60 per cent of them were from Tier II and Tier III towns. The sale days according to company witnessed over 666 million visits out of which over a half were from Tier III cities and beyond indicating greater participation of Bharat this year compared to the last.

"The revival in demand and resurgence of consumption is expected to remain even after TBBD, as we continue to uplift the entire ecosystem," said Nandita Sinha, Vice President - Customer Growth and Engagement.

Interestingly, the company's statistics also say that digital transactions witnessed a 55 per cent increase this year with a sharp increase in the new-to-digital customer base. Customers also availed various bank and digital wallet-led offers, which saw 150 per cent growth compared to last TBBD. Also EMI and Pay Later options were popular, indicating rise of 'buy now, pay later' sentiment induced by the macro economic conditions. People using Pay Later option spent 7 times more compared to other customers, while those opting for EMI facility increased by 170 per cent this year compared to 2019.

"The remarkable enthusiasm from consumers has ushered in green shoots of recovery for everyone across the value chain," added Nandita.

While lead categories like mobiles though saw increased customer visit, people seem to have opted more for upgrades. Smartphone buyers opting for product exchange during TBBD this year grew nearly 30 per cent, whereas people opting for bank offers compared to last year rose 46 per cent. Premium smartphones segment grew 3.2 times, predominantly driven by Apple, Google and Samsung phones. In the large appliances segment, growth was primarily driven by Bharat (Tier III) customers with nearly 50 per cent of the demand coming from this region.

ALSO READ: Sale of home utility products outpaces fashion this festive season

ALSO READ: E-commerce festive push for small businesses as Amazon, Flipkart focus on Bharat

ALSO READ: Big Billion Days: Over 70 sellers become crorepatis in first 3 days of sale

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