Bengaluru, Aug. 29 -- As the festival season kicks off amid subdued urban demand, Flipkart is betting on speed to boost consumer spending. The Walmart-backed e-commerce giant is looking to broaden the offerings under its quick commerce service, Minutes, by including more high-value electronics such as laptops and smartphones.

The retailer hopes faster deliveries during its flagship event, Big Billion Days, will help offset a slowdown in discretionary spending and bring back the buzz usually seen during the high-demand festival season, according to a top executive at the company.

The company's strategy reflects the broader challenges facing retailers this year: a hesitant urban shopper base, underwhelming summer sales, and cautious consu...