1. Demonetisation windfall for consumers: Flipkart, Amazon offer big discounts up to 20%

Demonetisation windfall for consumers: Flipkart, Amazon offer big discounts up to 20%

After witnessing drop in sales post-demonetisation due to curbs on cash-on-delivery orders, online retailers are providing various deals and discounts if consumers pay through digital channels.

By: | New Delhi | Published: November 29, 2016 6:32 AM

After witnessing drop in sales post-demonetisation due to curbs on cash-on-delivery orders, online retailers are providing various deals and discounts if consumers pay through digital channels.

Flipkart, for example is offering up to 20% off on electronic products bought through any debit/credit card. It has also launched cashback offers on its mobile wallet, PhonePe. A Flipkart spokesperson said, “Electronic payment on the platform has risen by 50% after demonetisation kicked in”.

According to industry estimates, in October close to 10 lakh orders were dispatched every day by e-tailers. Post the move the number of orders shipped have dropped to 5-6 lakh per day.

Amazon India is running a ‘cashless offer’, under which it is selling gift cards worth R500, R1,000 and R2,000. Consumers who buy any product on the site through the gift card, can avail up to 15% discount.

“Amazon India has seen a 10 times increase in payment through card-on-delivery, post the announcement,” Gopal Pillai, director and GM, seller services, Amazon India, told FE. He added that customers have already started buying the gift cards to shop on the platform.

Similarly, Myntra and Jabong — the two fashion and lifestyle portals owned by Flipkart — are running various prepaid offers. For example, Jabong is giving 25% discount on minimum purchase of R999 if goods are bought via an Axis Bank card, HDFC Bank card, SBI card or ICICI Bank debit/credit card. It is also offering 10% instant cashback to MobiKwik wallet users.

Likewise ShopClues, which has seen an overall decline of 7-8% in its sales post November 8, is offering 10% discount on all prepaid orders. It is also now allowing consumers who order under CoD to avail 2% cash back via CluesBucks.

Sanjay Sethi, CEO, ShopClues, said, “Before the announcement, 30% of the orders were placed under CoD, which is now dropped to 15%.”

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