Flipkart is providing further support to their Indian sellers and artisans with new initiatives that include but are not limited to insurance and fee waivers. Flipkart will be providing financial benefits, health and safety benefits, support through existing seller policies, working capital and insights to sellers on the platform.
Under fee waivers, Flipkart has exempted the storage fees to curb the impact that any seller may have on their inventory that is fulfilled through Flipkart’s fulfilment centers. The company is also waiving off the cancellation fee till May 31, 2021, for orders that may have been cancelled due to lockdowns in various states.
The new initiatives will help sellers prioritize their health whilst continuing to run their businesses as Flipkart bear 100% premium of COVID insurance extended to all sellers, which covers their hospitalization and consultation between ₹50,000 to ₹3Lakhs.
SPF & Working Capital
The company have also extended the window for the Seller Protection Fund (SPF) within which sellers have to claim SPF on returned products – from the regular 14 days to now 30 days. Flipkart will further ease the policies and performance metrics for its sellers to ensure that their business growth is not impacted by state-led lockdowns. In order to further assist sellers with their operational and other capabilities, the company is providing easier access to working capital. Under this, all sellers impacted by pandemic related disruptions will have an option of early settlement (next-day payment) without any incremental cost
“Through these testing times it is our constant effort to support our seller partners who face immense operational challenges as a result of the pandemic. As a democratic marketplace, we want to ensure that our lakhs of seller partners are able to continue operations and keep the economic engine running. With them and their family’s financial and health safety in mind, we have rolled out these initiatives that will bring them the much-needed respite to keep their businesses active.”
– Jagjeet Harode, Senior Director and Head – Marketplace, Flipkart