 "Flipkart introduces new rate card policy to enhance the seller experience")
E-commerce firm Flipkart announced an all-new simplified rate card policy aimed at the seller experience on the platform and enabling greater settlement clarity.
Key highlights of the new rate card, effective May 18, 2024, include a Simplified Rate Card Structure, Economical FBF (fulfilment by Flipkart) rates offering a competitive edge to streamline operations at a larger scale. It also includes an Updated Shipping Policy, enabling sellers to provide enhanced customer value. This change through a simplified rate card will foster equitable growth opportunities, reflecting Flipkart's commitment to empowering sellers.
"These changes are a direct reflection of our ongoing dialogue with our sellers. By reducing complexities and ensuring clearer settlements, we aim to make doing business on Flipkart seamless and more rewarding,” said Rakesh Krishnan, Vice President and Head - Marketplace, Flipkart. “This rate card redesign is part of Flipkart's broader initiative to streamline operations and offer robust support to our vast network of sellers across India. These changes will improve the ease of doing business and amplify potential market reach and consumer engagement. With enhanced benefits, we are confident that this initiative will unlock new opportunities for sellers to thrive and transform the selling experience on our platform."
A comprehensive educational strategy has been implemented to ensure sellers understand the benefits and implications of the rate card revisions. Flipkart will provide recorded explanations detailing the advantages of the new rate card structure and offer step-by-step guidance on navigating these changes. Flipkart's dedicated seller support team will continue to assist sellers with enhanced business decision-making. By providing informative resources and direct support channels, Flipkart aims to help sellers understand the changes and make informed decisions while maximizing their success on the platform.
Some of the key benefits of the new rate card structure include:
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- Streamlined Rate Card Structure: The new rate card has been simplified from four components (fixed commission, collection, shipping) to two (fixed & commission), significantly enhancing settlement transparency. By simplifying the rate card, Flipkart boosts sellers' ease of doing business, enabling them to focus on their core competencies
Simplified Shipping Costs*: With an updated shipping policy, Flipkart aims to enhance transparency and fairness within the seller ecosystem. Under this, shipping below 500g within local and zonal regions will not incur additional charges. However, a surcharge will be applicable for national shipping and categories exceeding 500g weight mark
Equitable and Easy Growth: The new rate card structure promotes equitable growth by offering transparent fee structures. This change empowers sellers to expand their businesses and fosters a level playing field where sellers can thrive
Making FBF more Economical: Fulfillment by Flipkart (FBF) has emerged as a cornerstone for sellers looking to scale their operations. With the revised rate card, Flipkart has made FBF more economical, offering competitive rates and enhanced benefits. Flipkart said this initiative would make it easier and more cost-effective for sellers to expand their reach.
However, the new rate card excludes specific verticals.