Factors such as EMI schemes without interest, ease of ordering are some of the factors that have created a surge in demand on quick commerce platforms during the festive season
Diwali 2024: Quick commerce platforms are all ramping up to cater to the customer demands on Dhanteras (the first day of Diwali). Quick commerce platforms such as Instamart, Blinkit, and BigBasket are selling gold and silver coins and increasing gold and silver coins on their platforms.
Instamart, for instance, has a separate section called ‘Dhanteras Specials’ where gold coins, sliver coins and silver jewelry are being sold. Blinkit also has a section called ‘Dhanteras’ where coins, idols, jewelry, and home decor are being sold.
Along with this, the platforms are also trying to woo customers with rewards. Instamart, said in a promotional message, “Get all Dhanteras essentials like coins, utensils, jewelry, idols, and more in 10 minutes! And that’s not all... ALSO get assured rewards worth ₹51,000* from Jar. So, dazzle up your Dhanteras (and Diwali too)!”
Festive season has been the all-time favorite for quick commerce platforms, as they see an increase in spending during this time. For instance, Blinkit and Swiggy achieved record raki sales. The sale surged to 693 rakhis per minute per Blinkit. The company’s CEO, Albinder Dhindsa, wrote on X, “We’ll cross all-time high orders in a day on Blinkit in a couple of minutes. We also hit the highest ever OPM (orders per minute), GMV, chocolate sales, and most other metrics today!”
Additionally, the festive season has increased the demand for direct-to-customer (D2C) brands by up to 250 per cent, as per the Financial Express. The platforms are also seeing a surge in Diwali gift orders, as per Datum Intelligence, an e-commerce consultancy firm.
“Festive season online sales are projected to reach Rs 100,000 crore, with quick commerce contributing 8 percent of online sales," adds the firm,
To add to it, the firm’s report also indicates that 50 per cent of online grocery sales during the festive period will come from quick commerce platforms. Same-day delivery and huge discounts are some of the factors that are increasing customers on these quick commerce platforms. Further, other factors such as EMI schemes without interest, ease of ordering, and payment are some of the reasons that are prompting people to use these platforms. For example, recently Blinkit came up with an EMI option for purchases that are above Rs 2,999. However, this feature will not have orders that contain gold and silver coins.