With an aim to double 2x its seller base this year, Flipkart Marketplace has announced new benefits and policies for sellers including travel-related discounts through Flipkart-owned Cleartrip, 7-10 days payment settlement cycle from product dispatch day, and 10-min onboarding process, among others.
The company has also announced guaranteed ROI on ad spending, a new IOS app for sellers, and a low return cost for performing sellers in an attempt to improve the ease of doing business for them. Jagjeet Harode, Senior Director and Head – Marketplace, Flipkart, told BusinessLine that the company has seen its conversion rate improve by 1.6x during the pilot phase of these new benefits and policy changes.
“As a democratic marketplace, we want to ensure that all our seller partners can grow their business and keep pace with the growing consumer needs. We continue to innovate and grow the e-commerce marketplace segment in India with industry-first innovations and equip MSMEs and seller partners on their journey towards strong, sustainable growth. Our industry-first policy changes and new tech capabilities aim to empower sellers and consumers while promoting India’s e-commerce growth story. We are committed to addressing some of the industry limitations faced by sellers, from payments to onboarding to cataloging, through our new policies and capabilities,” Harode added.
Starting in 2007, Flipkart has a registered customer base of more than 350 million, offering over 150 million products across 80+ categories. The Flipkart Group includes group companies such as Flipkart, Myntra, Flipkart Health+, Flipkart Wholesale, and Cleartrip. The group is also a majority shareholder in PhonePe, one of the leading payments apps in India.