HomeBUSINESSFlipkart rolls out fresh policies to attract more sellers

Flipkart rolls out fresh policies to attract more sellers


NEW DELHI: Online marketplace Flipkart has stepped up policies and capabilities for sellers on its platforms including reduction in return costs as well as introduction of a simplified rate card as it hopes to engage and onboard more sellers on its platform.

On Tuesday, Flipkart unveiled new polices and features focused on ease of doing online business for MSMEs and supporting their sustainable growth.

Some of these include easy settlements, simplified rate card, reduction in platform fee, growth programs, cataloging support, and other policies. The fresh announcements are an extension of an updated seller framework introduced by Flipkart in April 2022 including the seamless 10-minute on-boarding process, ease of listing, and payment policies.

Flipkart said the new policies are aimed at helping more sellers adopt online marketplaces and sell their goods online. In all, Flipkart hosts 4.2 lakh sellers on its platform.

“We have introduced the second phase of the Flipkart EDGE initiative to ensure sustained growth and ease of doing business online. The future of business is digital, and the initiatives and innovations we have introduced will help our MSME and seller partners take important steps towards making their business more resilient, profitable, and future-ready,” said Jagjeet Harode, senior director and head, marketplace, Flipkart.

Through these new developments, Flipkart aims to drive down the cost of operations for sellers through tech-led interventions, said Divyesh Shah, senior director and head of marketplace product and technology, Flipkart.

For instance, the simplified rate card will enable sellers to understand their profit margin/commissions, fixed fees, and shipping fees. Sellers on the platform will not face the complication of various criteria for pricing based on location, shipping fee and payment mode, it added. Meanwhile, sellers will get one assured settlement value irrespective of service profile, zone or payment mode.

The online retailer has also set-up flat return costs for product listings apart from reducing catalog costs. In all, return costs have been lowered by 15%. Flipkart will also offer affordable packaging options for all shipments resulting in cost savings for sellers.

The Walmart-backed online marketplace competes with Amazon which also has been luring small and medium business owners to join and sell more products on its platform. For instance, in January 2020, Amazon pledged $1 billion in new investments to help take small Indian businesses online.

Flipkart is also stepping up efforts to train and incubate sellers through the Flipkart Ignite program that supports new sellers. This also includes facilities such as free ad credits, exclusive training sessions, image editing, and catalog creation amongst many others.

Meanwhile, the policies rolled out by the marketplace in April have resulted in increased seller traction.

“Simplifying the on-boarding process through mobile phones with fewer steps has resulted in a two times increase in onboarded sellers and a four times jump from the sign-up stage. The policies underline Flipkart’s deep understanding of seller needs and align with the company’s commitment to encouraging digital adoption among MSMEs,” the retailer said.

The Flipkart Group includes digital commerce entities such as Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip.



Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.


Source link


Most Popular

Recent Comments