Diwali is around the corner, so let’s revisit what last year 2021 sales nationwide are telling us –
💰 India has purchased products worth around Rs 1.25 Lakh crore as of November 2021. That’s a record high for an entire decade.
💡 A decline in the number of Covid-19 cases and increased eCommerce deals, offers, and cashbacks might have contributed to sales despite inflation.
🎯 Nevertheless, want to know what grabbed the spotlight? – BNPL.
One notable example comes from LazyPay, the BNPL platform that saw its credit demand jump by 300% across categories such as travel, food, and beverages.
Capital Float (now axio) has financed around 450 crores during the festive period 2X more than their 2020 loan disbursements.
eCommerce giants like Amazon & Flipkart have altered the game even more with EMI-based credit products to help customers maintain affordability while also keeping repayment cycles accessible.
Clearly, the BNPL segment has fuelled sales during the festive season. In other words, it’s a win-win situation for both credit lending businesses and their customers.
Now that’s about #diwali2021 sales.
Stay tuned for some interesting findings regarding #diwali2022 payments & transactions.
#manispeaksmoney #diwali2022 #diwalisales #BNPL #fintech