- Walmart-owned Flipkart is exempting storage and cancellation fees for sellers on its marketplace
- Sellers facing severe crises amid unprecedented growth In the spread of coronavirus infection in a South Asian nation.
- Flipkart will bear a 100% premium to all vendors, which will cover hospitalization and consultation fees.
- Walmart’s Flipkart in India looks to maintain cordial relationships with more than 300,000 sellers
Flipkart is an e-commerce marketplace that offers over 30 million products across 70+ categories. It provides books, movies, music, games, consoles, gaming accessories, mobiles, mobile accessories. Electronics like cameras, camera accessories, computers, computer accessories are also offered. Flipkart also offers home and kitchen appliances, TV, and video products, and personal and health care products.
Flipkart, currently 33,000 people strong, has 75 million registered users clocking over 10 million daily visits. Flipkart’s technology has enabled it to deliver 8 million shipments per month – and this number is only growing. Binny and Sachin Bansal founded Flipkart in 2007, with headquarters in Bengaluru in India. In 2018, the company was acquired by the giant retail corporation, Walmart.
Walmart’s Flipkart to cover insurance for Indian sellers:
Walmart-owned Flipkart is exempting storage and cancellation fees for sellers on its marketplace. It is also providing them with insurance coverage as the top e-commerce platform in India. It looks to maintain cordial relationships with more than 300,000 sellers. They are facing severe disruption amid an unprecedented rise in the spread of coronavirus infections in the South Asian nation.
The Bangalore-headquartered firm said Friday evening that it is exempting storage fees to sellers who use the company’s fulfillment centers and also waiving off the cancellation fees until the end of the month. (Several Indian states, as they did during the first wave of the virus, have imposed restrictions on the sale and delivery of non-essential items.)
Flipkart will bear a 100% premium of COVID insurance to all sellers that transact on the platform, covering any hospitalization and consultation fees between 50,000 Indian rupees ($685) to 300,000 Indian rupees ($4095).
Millions of firms, startups are coming together to help the nation:
India is reporting more than 400,00 daily infections this week, more than any other nation. Millions of firms, startups, investors, and people alike are coming together to help the nation fight the virus, which has severely impacted healthcare facilities. It is extending the window for vendor protection funds to 30 days (from 14) to claim returned products.
Flipkart, which was working to go public this year as last year, said it has partnered with Walmart’s supplier development program in India to share best practices to ensure workforce safety To conduct webinars for small businesses and provide them with insights on where to live. Amidst the crisis.
