It is important to note that Venugopal, during his speech at the Walmart-hosted Converge event, did not mention any specific launch date for the ‘price lock’ service.
New Delhi: The Walmart-owned e-commerce platform, Flipkart, is planning to roll out a ‘price lock’ feature ahead of the festive season, according to the reports. The latest feature by the company will enable the customers to reserve products with a small deposit to secure them at a set price, addressing issues of quick sell-outs and price fluctuations during festive sales.
According to a Money Control report, Jeyandaran Venugopal, chief product and technology officer (CPTO), Flipkart said, “During festive seasons, we have received feedback that products are sold out or unavailable within minutes, and with the price lock feature, people will be able to lock the inventory they need.”.
It is important to note that Venugopal, during his speech at the Walmart-hosted Converge event, did not mention any specific launch date for the ‘price lock’ service. Walmart acquired a 77 per cent stake in Flipkart in May 2018.
The Flipkart customers will be required to make a small deposit under this new feature, guaranteeing them access to a specific product at a fixed price, even in the face of increased demand, accoring to the Money Control report. This ‘lock’ feature aims to protect buyers from price fluctuations and product shortages, which are common during festive sales.
NRLM, Flipkart Collaborate to Empower Women Entrepreneurs
The National Rural Livelihood Mission (NRLM) has collaborated with Flipkart to provide opportunities to women self-help groups in Uttar Pradesh’s Maharajganj to sell their products on the e-commerce platform.
The initiative will provide women a platform to showcase their skills, expand their market reach, and improve their socio-economic status, besides promoting entrepreneurship, and contributing to NRLM’s mission of poverty reduction and rural development, a release on Friday said.
Minister of State for Finance and Maharajganj MP Pankaj Chaudhary said the collaboration represents a powerful stride towards uplifting rural communities.
“By providing a platform for local artisans, we are not only preserving our rich cultural heritage but also contributing to the economic development of rural India,” said Chaudhary.
At Flipkart, we wholeheartedly back self-help groups, rural artisans, and weavers nationwide, Flipkart Chief Corporate Affairs Officer Rajneesh Kumar said.
Through our Flipkart Samarth programme, we aim to equip them with the expertise, provide them resources and access to a nationwide market, he said.