Flipkart set to roll out ‘price lock’ function forward of festive season. Know all about it.

Flipkart, the Walmart owned e-commerce big, is reportedly planning to introduce a ‘value lock’ function for festivals. This function will enable clients to order merchandise with a small deposit to safe them at a set value, addressing problems with fast sell-outs and value fluctuations throughout festive gross sales.

As per a report by Money Control, Jeyandaran Venugopal, chief product and know-how officer (CPTO), Flipkart said, “During festive seasons, now we have acquired suggestions that merchandise are bought out or unavailable inside minutes, and with the value lock function, individuals will have the ability to lock the stock they want.”.

No particular launch date was talked about for the ‘value lock’ service throughout Venugopal’s speech on the Walmart-hosted Converge occasion. Those who have no idea, Walmart acquired a 77 per cent stake in Flipkart in May 2018.

As per the media publication, clients might be required to make a small deposit underneath this new function, guaranteeing them entry to a selected product at a set value, even within the face of elevated demand. This ‘lock’ function goals to guard consumers from value fluctuations and product shortages, that are frequent throughout festive gross sales.

Venugopal additionally talked about that Flipkart’s vendor depend has risen from 1.1 million final yr to 1.4 million. Additionally, the corporate, headquartered in Bengaluru, has intensified its dedication to buyer companies, together with options like trial rooms and personalised magnificence and private care steerage.

Earlier this month, Flipkart additionally introduced that it’s seeking to create a couple of lakh seasonal job alternatives throughout its provide chain together with fulfilment centres, sortation centres and supply hubs.

As per the corporate’s assertion, these seasonal jobs, each direct and oblique, will embrace these for native kirana supply companions and ladies, as reported by PTI. 

Moreover, it additionally added that Persons With Disabilities (PWDs) will even be employed to create a various provide chain expertise.

“The Big Billion Days (TBBD) is about scale, innovating for India, and impacting the ecosystem. It allows millions of new customers to experience the goodness of e-commerce, many of them for the first time,” Flipkart Group Senior Vice President and Head of Supply Chain, Customer Experience and ReCommerce, Hemant Badri stated as reported by PTI.

TBBD is the Flipkart sale time throughout which it affords reductions on merchandise of high manufacturers.

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Updated: 16 Sep 2023, 01:21 PM IST