Late night consumer spending online posts 60% growth in FY23-24 over previous fiscal

● The total number of orders from 10 pm – 4 am has increased by nearly 30% in the last fiscal

● Trend points to the underlying sentiment among consumers to avail services beyond the conventional business hours

Bengaluru, 27 June, 2024: With seven states including Maharashtra, Karnataka, Telangana, Haryana and New Delhi allowing shops and establishments to run 24 hours, an increasing number of consumers are availing a multitude of services at night, leading to an increase in higher consumer spending. According to Simpl’s Checkout Scan, there has been a 60% increase in total payment volumes for orders placed between 10 pm to 4 am over the last 1 year across a range of merchants including quick commerce, food and beverage, mobility and other services. These orders were placed by millions of consumers across the country by using Simpl’s Checkout solutions including 1-Tap Checkout and Pay-in-3. This trend can be attributed to the growing popularity of late night in-house parties among millennials and Gen Z, long weekends and months long cricketing season among other factors.

During the same time, the total number of transactions grew by nearly 30% in a testament to the efficacy of all night retail which is increasingly being considered by other states. There was also a 10% increase in average order value as consumers are witnessing increased convenience from services online at night. Of all the orders placed online, food and beverage merchants constituted the lion’s share of late night orders followed by mobility, on-demand driver and parking service providers. These services were availed across a multitude of merchants including Zepto, Blinkit, Swiggy Instamart in Quick Commerce; Zomato and Swiggy in F&B and Myntra, Nykaa in Fashion among others.

Simpl, which is the preferred checkout platform for over 26,000 merchants and millions of consumers across the country, has been rapidly expanding its merchant base across the country to bring more convenience to customers. Over the last three years, Simpl has partnered with thousands of large merchants across a range of segments with millions of registered customers across the country to offer a seamless experience to them across platforms.

Commenting on this trend, Nitya Sharma, Co-Founder and CEO at Simpl said, “The decision of several state governments to allow shops and establishments to remain open 24 hours is resulting in increased convenience for customers and more economic activity for merchants. The 60% growth in consumer spending and nearly 30% growth in orders processed through Simpl’s Checkout Platform over the last fiscal years stands as a testament to the underlying sentiment among consumers to avail services beyond the conventional business hours”.