BlinkIt, the rapidly growing quick commerce platform, has rolled out a new feature allowing customers to utilize Equated Monthly Installments (EMI) for purchases exceeding Rs 2,999. This payment flexibility is applicable to nearly all orders, with the exception of those containing gold and silver coins.
This EMI option is a strategic move by BlinkIt to broaden its customer base and encourage larger purchases on its platform. As more consumers turn to quick commerce for groceries and household essentials, this feature could enhance the accessibility of bigger orders.
Experts in the industry suggest that offering the ability to spread payments over time may lead to an increase in high-value transactions, making it a promising addition for both consumers and the platform.
For BlinkIt, the introduction of EMI payments aligns seamlessly with its objectives to grow and foster customer loyalty. The quick commerce sector is intensely competitive, with major players like Swiggy Instamart and Zepto also vying for market dominance. By offering this payment solution, BlinkIt aims to boost its average order value, a crucial metric for its ongoing growth strategy.
In addition to the EMI launch, BlinkIt recently unveiled its Seller Hub, enabling brands to manage their presence on the platform autonomously, eliminating the need for intermediaries. Over 200 brands now have access to this tool, which streamlines their quick commerce operations.
Having established itself as a frontrunner in the quick commerce market, BlinkIt has recently received a valuation of approximately $20.8 billion from HSBC—more than double the valuation of its parent company, Zomato, which stands at $9.2 billion according to the bank.