To boost the sales in the coming annual sale, Flipkart allows buyers to avail Equated Monthly Instalment (EMI) services to Debit card users on purchasing large appliances. As the Festive season is on its ways, many e-commerce websites started many online shopping sales to grab more customers and more revenues.
Flipkart’s Big Billion Days sale is all about the discounts on many products in all categories. It started in 2014 and got famous year by year. Until now, EMI option has been confined to purchases made through Credit Card. But not now, Flipkart is allowing EMI facility for purchases via Debit Card also on large appliances.
Flipkart is working with State Bank of India (SBI) and Axis Bank to test this new service. This facility will be applicable for high valued products first later will be extended to mid-range products too.
Sandeep Karwa, the head of large appliances for Flipkart stated, “With this plan about to be introduced, they can opt for higher priced items which shall push our overall sales volumes up.” He also added this move is for the customers who are not able to buy large appliances who did not have Credit Cards. The plan is to enhance operation and supply chain, especially for big brands to ensure faster delivery to customers, Karwa said.
As per data produced by Reserve Bank of India (RBI), there are 79.38 crore Debit Card holders in the country while there is only 3.14 crore Credit Card holder. Hence it’s high time for online retailers to introduce EMI option to Debit Card users, Karwa said. Based on the past data reports, Flipkart prepares a White list of users, who can avail this option through Debit Card.
The big e-commerce sales of Flipkart and Amazon will kick start from September on wards rather than October.Flipkart also plans to sell refurbished smart phones by Diwali, following the footsteps of its rival Amazon in India.Flipkart recently launched its own brand Billion under the initiative Sanjay Bansal, co-founder of Flipkart to offer products which are specially designed for Indian buyers.
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