Simpl, a leading fintech startup, disclosed a notable increase in consumer spending on its platform during the recent T20 World Cup Final. Following India's thrilling victory over South Africa by 7 runs at the Kensington Oval in Barbados on Saturday, Simpl noted a significant 40 per cent surge in spending compared to last year's 50-over World Cup final.
Nitya Sharma, Founder and Chief Executive Officer of Simpl, highlighted the impact of the event on consumer behavior, stating, "Indians’ enthusiasm and celebration of the T20 World Cup 2024 victory were palpable in their online spending patterns. Quick commerce spends saw a remarkable rise, particularly during the match hours from 8 pm to 11 pm."
The peak spending recorded on Simpl's platform reached Rs 16,410, with one consumer making as many as 59 transactions during the period.
Additionally, there was a substantial increase in orders under Rs 100 via Simpl on platforms such as Zepto, Blinkit, Swiggy Instamart, and Porter, which surged by 35 per cent compared to last year's final in November.
“This is a testament to the growing trend of consumers increasingly seeking instant checkout and fastest delivery to meet their immediate needs,” Nitya said.
Founded in 2016, Simpl boasts a network of approximately 26,000 merchants, including prominent names like Zomato, MakeMyTrip, Big Basket, 1MG, and Crocs.
Simpl's latest report reflects the evolving consumer behavior and increasing adoption of digital payment solutions in response to major sporting events.
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