Cracker of a start: Flipkart, Amazon’s opening day festive sales surpass estimates

BENGALURU: India’s largest ecommerce companies Flipkart and Amazon said their festive sales have surpassed estimates on the opening day on Sunday, primarily boosted by new product launches, steep discounts, and bank offers of loans and no-cost EMIs.

Data shared by both marketplaces indicate that most of these shoppers used some kind of financial affordability construct like EMI or product exchange offers to make purchases, especially on electronics.

Flipkart said customers opting for affordability options spent 2.5 times more than other customers, while Amazon said the number of customers opting for EMIs doubled and 75% of them were from smaller towns and cities.