Zero cost EMI purchases on Snapdeal grow by 100 percent
New Delhi [India], Feb 20 (ANI): Largest online marketplace Snapdeal on Monday revealed interesting statistics around its zero cost EMI offering, launched in December 2016.
The offering has stuck a chord with India's upwardly mobile consumers, and sales through zero cost EMIs have registered a 100 percent month on month growth, and is now a significant contributor to Snapdeal's overall sales in mobiles and electronics.
Region wise, the maximum orders for zero cost EMIs were received from the North region, while metros and Tier II cities led in the demand overall.
Launched in December 2016 in partnership with all major credit card issuing banks, the zero cost EMI option offers Snapdeal consumers another convenient and affordable way to meet their needs. The consumers don't have to pay any interests or down payments and neither are burdened by any hidden costs.
"The limited access to easy credit coupled with the rising aspiration of India's increasingly savvy consumers, makes the zero cost EMI one of the most reasonable and convenient options available in the market today. While currently only one percent of all e-commerce transactions are done through the EMI route, this number will grow exponentially as the market continues to expand," said senior VP Business, Vishal Chadha. (ANI)