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The world of eCommerce is thriving, and keeping up with this ever-evolving industry is of utmost importance. The field has become increasingly competitive; henceforth, every e-marketplace platform wants the best for its vendors, and every vendor wants to offer a top-notch experience to their customers.
In 2022, Flipkart launched new policies under the initiative “Flipkart Edge” with the aim of creating a more seller-inclusive experience and ecosystem. From easy settlements to reduced platform fees and AI-led catalogs, a few other policies were implemented during the second phase of Edge. These features are considered an expansion of the policies Flipkart introduced in April 2022.
Once the policies are made, they need to be revised at regular intervals as per the ongoing trends and demands. We are well aware of the importance of digital adoption in the eCommerce industry. In Flipkart’s recent press release, the company enhanced its policies for sellers for improved business cost efficiency.
Listed below are the newly enhanced policies to foster growth with streamlined, best-in-class operations, highly integrated technological solutions with convenient business operations, and a seller support ecosystem.
Flipkart Edge: New Policies
Pricing is the first and foremost priority of the seller, both offline and online. Ideal pricing attracts customers and boosts the conversion rate. The feature will help you understand ideal pricing based on consumer insights, buying behavior, and ongoing trends. All these touch points will help the seller understand their target market better and price their products as per the threshold. Following these, the brand can scale their business on the platform efficiently.
Flipkart aims for sellers to have more transparency over their products. This feature allows them to have complete control over the promotion of the products. Having lucidity empowers them to make informed decisions and participate more effectively.
The new rewards platform significantly improves the seller’s experience with rewards by providing greater clarity regarding incentives and their eligibility requirements, as well as greater flexibility for meeting them. In addition to tracking, monitoring, and governing the rewards on a regular basis, the new platform facilitates greater investment returns and economic expansion. It also substantially reduces the reward payout cycle, allowing sellers to use the additional operating revenue to grow their businesses.
Fulfillment Support and Speed Initiative
Having robust fulfillment and customer service could help you earn numerous brownie points. Understanding its importance, Flipkart has altered its policies to help reduce operating costs and improve packaging quality. It is crucial to streamline the tasks and perform them comprehensively; this initiative will enable sellers to process orders quickly and utilize their warehouse space effectively.
Seller Support Experience Guidance
Well, not only consumers can have any queries, but sellers can also have doubts and questions regarding the platform policies. In lieu of this, Flipkart has introduced a guided assistance feature in different languages to resolve the seller’s query efficiently.
This year, the user interface was redesigned by implementing intelligent logic on frequently asked questions (FAQ) pages with detailed content to guide sellers, making the portal more user-friendly.
Video commerce has been enabled on the Flipkart platform for all of its sellers in order to increase the visibility of their products and provide customers with improved purchasing experiences and product recommendations. This feature has been provided to help them engage with customers more effectively and showcase their products in a variety of formats, including reels and long-form videos, among others. Recently, Flipkart launched a creator app for sellers to unleash the underlying potential of the ongoing craze of video commerce in India.
How Paxcom Comes Into The Picture
With the multifold growth of eCommerce and consumers shopping online, the price category has become a competition in itself. Do you know? A potential customer visits three websites before making a purchase, and a minuscule improvement in price could help you gain over 10% in margins. Leveling up the business is simple thanks to Paxcom’s committed team of professionals because it enables you to focus on the essential duties while our account managers take care of the rest, assisting the brand in making data-driven decisions and enhancing its bottom line. With our 360-degree advertising software, the experts offer end-to-end management aligned with your brand’s goals. From planning and execution to adapting the latest features at the earliest, our certified team of experts works in line with best practices and budgets. Media planning, promotion calendars, data collation, and detailed analysis are performed simultaneously to identify new business opportunities.
According to Redseer’s data, Flipkart’s expansion in India has outpaced its competitors, and Flipkart’s revenue recorded an increase of 40% in 2021 and 23% in 2022 compared to the prior year. Flipkart’s growth has truly been a one-of-a-kind journey, with 167 million visitors per month, as per Statista. The homegrown label is dedicated to fastening its growth and can only raise the bar if it joins hands with more sellers and provides splendid services to both its vendor and the customer.
The bottom line is that all channels contribute to the e-commerce industry’s growth by selling unique items. However, the Customer is king. And these sellers are Flipkart’s customers, so offering distinctive and value-added services and policies to them is crucial.
Stay tuned as we offer you the most recent eCommerce marketplace developments and what’s hot in the eCommerce business to give your company a competitive edge over your clients. With our AI-driven skills and exceptional services, our team of specialists will assist your brand in reaching new heights. Get on a call with us and discover how we can help you leverage your brand across different platforms and geographies too. Fill the form or directly reach out to us at firstname.lastname@example.org