Flipkart announces health, financial and safety benefits to support sellers amid Covid-19 crisis
New Delhi: Flipkart has extended various initiatives to hundreds of thousands of MSMEs, small vendors, artisans, weavers and craft partners, to help them overcome the challenges of the current scenario.
These efforts range from financial benefits, health and safety benefits, to support through existing vendor policies and information provided to vendors on the platform.
As part of the fee waivers, Flipkart has waived storage fees to limit the impact any seller may have on their inventory that is processed through Flipkart’s fulfillment centers. The company is also waiving cancellation fees until May 31, 2021, for orders that may have been canceled due to blockages in various states.
Flipkart, in an official statement, said it will bear 100% of the COVID insurance premium extended to all sellers, which covers their hospitalization and consultation between ₹50,000 to ₹3 Lakhs.
Jagjeet Harode, Senior Director and Marketplace Manager at Flipkart, said: “During these testing periods, we are constantly striving to support our vendor partners who are facing immense operational challenges due to the pandemic. . As a democratic market, we want to make sure that our partner seller lakhs are able to keep going and keep the economic engine running. With the financial and health security of their families in mind, we have put in place these initiatives that will give them the respite they so badly need to keep their businesses active. “
In light of the current situation, the company has further updated its existing policies to protect 3,000,000 salespeople and their businesses. Flipkart has extended the Seller Protection Fund (SPF) window where sellers must claim the SPF on returned products – from 14 normal days to 30 days now.
The company says it will further relax policies and performance metrics for its vendors to ensure their business growth is unaffected by state-led bottlenecks.
Flipkart also claims to provide easier access to working capital. Under this, all sellers affected by pandemic-related disruptions will have an option of early settlement (next day payment) at no additional cost. The corresponding transaction costs will be borne by Flipkart.
In addition to these efforts, Vriddhi – Walmart’s supplier development program in India, in partnership with Flipkart – hosted webinars for small businesses with the aim of spreading knowledge and sharing best practices for keeping people safe. their workforce and provide relevant demand information to help them stay operational during this second wave. The Vriddhi program is opening e-institutes across India to help train MSMEs to scale and enter global supply chains. In these difficult times, Vriddhi provides small businesses with telecare and advice in addition to information modules on insurance awareness and digital marketing to ensure business continuity.
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