The discontinuation of old Rs 500 and Rs 1,000 notes led to up to 30 per cent fall in cash- on-delivery (COD) orders from e-commerce platforms like Snapdeal, Flipkart and Shopclues in the aftermath of the surprise announcement.
However, top leaders of these e-commerce companies welcomed the governments decision saying this would have a positive impact on their businesses and the overall economy in the long-term.
“There was a drop in sales when the announcement was made. There were cancellations of CoD orders but its recovering now,” Flipkart co-founder Sachin Bansal told reporters over a video call.
Speaking at the Digital India Foundation event, he added that the company is now seeing more people opting for digital payments routes to pay for their orders.
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