“EMI options will be applicable on all orders above Rs 2,999 (except orders that contain gold and silver coins),” Blinkit chief executive Albinder Dhindsa wrote in a post on microblogging platform X.
This is similar to ecommerce platforms, which have been offering EMI options for a while. The move is aimed at making purchases more affordable for consumers, driving higher spending, especially for big-ticket items.
“We believe this will improve affordability and enable better financial planning for our customers,” he added.
The development comes at a time when quick-commerce platforms are aiming to expand their market share during the festive season. These platforms add high-demand, festival-specific products to their regular inventory, leading to an increase in usage of their services.
Over the past few weeks, Mumbai-based Zepto has also been launching a postpaid payment option.
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Offers and EMI options are significant factors driving festive shopping, especially for ecommerce platforms. More than 50% of buyers in categories like TVs, washing machines, laptops, and refrigerators are choosing to pay through EMI, according to a Datum Intelligence report. ET has been reporting on how quick commerce platforms are increasingly acting as horizontal online marketplaces by broadening their product offerings to include apparel and lifestyle items. These platforms are also focusing on addressing challenges that come with online fashion shopping like returns and exchanges.
On October 15, the Gurugram-based company also rolled out 10-minute returns for footwear and clothing categories. After testing the return feature in Delhi-NCR, it enabled it for Mumbai, Bengaluru, Hyderabad and Pune, with plans to expand it to more cities soon.
Blinkit is moving into new markets while also strengthening its presence in existing cities, where it believes the overall penetration of quick commerce is low.
