Online marketplaces Pumpkart.com and Figgital have initiated a hyper-local e-commerce business model through which retailers can sell various products without the need for opening physical stores, which will ensure social distancing during the coronavirus pandemic.
Founder and CEO of Pumpkart.com and Figgital, K S Bhatia, said this model can give a boost to flagging economic growth.
"The model will resolve the economic slowdown being witnessed across the country due to the COVID-19 pandemic and it is suited for different North Indian state governments and Chandigarh UT," he said here on Wednesday.
Pumpkart is a B2B e-commerce operator which since the last five years has been engaged in digital distribution of branded and non-branded products to retailers.
"We have also unveiled Figgital.com, which we have rolled out keeping in mind the lockdown period," he said.
"Through the hyper-local e-commerce model we will serve retailers to sell to consumers online in the lockdown as opening retail outlets could create safety and health issues," he added.
The model will provide a dual benefit to retailers -- on one hand products will be delivered to them through Pumpkart.com, while their goods will be sold to consumers through Figgital with a delivery time of just 2 hours, Bhatia said.
Bhatia, who is also an Honorary Member of the E-Commerce Council of India, added, "We already have 8,000 retailers and wholesalers on board across Punjab and Chandigarh and approaching them is not a problem. So our platforms will not only cater to both retailers as well as consumers but also give a fillip to sales of wholesalers from whom products will be provided to retailers."
Disclaimer: No Business Standard Journalist was involved in creation of this content