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CoutLoot says it enables small shops and sellers expand their business online (file image) | Photo Credit: grapestock
Social commerce platform CoutLoot has launched a platform to connect offline and online sellers directly to small and medium manufactures across India.
“Through this platform, sellers and merchants can source fast-moving products and categories directly from the manufactures, eliminating the need of middlemen and increasing profit,” it said in a release.
The platform would enable over seven lakh sellers source products faster, it said.
Over the past year, CoutLoot helped over six lakh small shops and sellers expand their business online, it said.
“The platform is tailormade for smaller retailers and sellers coming from beyond the metro cities of India. The wholesale SAAS [software-as-a-service] platform will be integrated with other platforms, short video apps, logistics platforms etc to plug supply chain issue for every small Indian business or creator. The sellers would be able to source products directly from the manufacturers at smaller MoQs (minimum order quantity) at right price through which they can order even with a small working capital. It will also help them earn better margins,” Jasmeet Thind, Cofounder, CoutLoot said.
Founded by Thind and Mahima Kaul, Coutlootallows buyers and sellers to bargain while shopping. It helps sellers list non-MRP (non-fixed-price), unbranded local market products across fashion, electronics, home decor, sports and other boxed categories that account for three-fourth of India’s retail market.
CoutLoot is trying to leverage technology to get into smaller MOQs to help sellers and creators in small towns set up online stores.
Nearly 70 percent of Coutloot’s users are in smaller towns. The wholesale platform currently lets sellers chose from over 5000 SKUs from across 240 small and medium factories in India. The plan is to have around 60,000 SKUs over the next two months.
The company expects to have a strong network of three million sellers on its platform by the end of 2022. It has also crossed a milestone of 10 million downloads on both Android and iOS apps.
Its dedicated app helps sellers with a free store as well as logistics, payments, demand and supply chain services. It plans to launch a ‘buy now pay later’ facility for sellers soon.
Published on April 13, 2022
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