T20 World Cup final leads to 40% increase in quick commerce spending
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India emerged victorious against South Africa by 7 runs in a thrilling final to win the ICC T20 World Cup at the Kensington Oval in Barbados on Saturday.
Following the match, fintech startup Simpl reported a 40% increase in consumer spending on its platform during the T20 World Cup Final.
This surge in spending highlights the strong support and celebration of India's triumph among its citizens.
Nitya Sharma, Founder and CEO of Simpl, noted, "Indians' enthusiasm and celebration of the country's victory at the T20 World Cup 2024 were reflected in their online spending patterns, with nearly a 40% increase in quick commerce spending compared to last year's 50-over World Cup final."
Sharma added that the spending remained consistent throughout the match, with peak spending occurring between 8 pm and 11 pm. The highest spending on quick commerce reached ₹16,410, with a single consumer making 59 transactions.
The platform also saw a significant rise in orders under ₹100 through Simpl on various platforms, including Zepto, Blinkit, Swiggy Instamart, and Porter, which increased by 35% compared to last year's final in November.
"This trend demonstrates consumers' growing preference for instant checkout and the fastest delivery to meet their immediate needs," Sharma explained.
Founded in 2016, Simpl hosts around 26,000 merchants on its platform, including popular brands such as Zomato, Makemytrip, Big Basket, 1MG, and Crocs.