Flipkart Introduces ‘Price Lock' Feature for Festive Season
Are you tired of the stress and uncertainty that often accompany festive shopping?
Flipkart has some good news for you! In an announcement made by a senior executive on Friday, the popular e-commerce platform is set to introduce a game-changing ‘price lock‘ feature just in time for the upcoming festivals.
During festive seasons, it's a common frustration for shoppers to witness products flying off the virtual shelves within minutes, sometimes accompanied by unexpected price hikes. However, Flipkart is stepping up to address these concerns with its innovative ‘price lock' feature. Jeyandaran Venugopal, Chief Product and Technology Officer (CPTO) at Flipkart, shared this exciting development during an event held by Walmart, Flipkart's parent company.
The ‘price lock' feature is designed to offer shoppers peace of mind during the bustling festival shopping rush. Here's a glimpse of what this feature entails:
1. Secure Your Products:
With a ‘price lock,' shoppers will have the opportunity to secure the items they desire by paying a small deposit. This deposit guarantees that the selected products will be available to them at the agreed-upon price, regardless of any potential price fluctuations or stock shortages.
2. Protection Against Price Fluctuations:
One of the primary benefits of this feature is that it shields consumers from sudden price changes. It ensures that the product's price remains constant, offering a predictable shopping experience.
3. Prevents Stock Shortages:
The ‘price lock' feature also addresses the common issue of products running out of stock during festive sales. Once you've locked in your selection, you won't have to worry about missing out on the items you want.
While the official launch date for this service hasn't been disclosed yet, it's clear that Flipkart aims to enhance the shopping experience for its customers during the festive season.
Festive sales are a significant part of the e-commerce industry, accounting for 50% of the gross merchandise value (GMV) for companies like Flipkart, according to a Moneycontrol report.
In addition to this exciting feature, Venugopal also shared that Flipkart's seller base has expanded significantly, growing from 1.1 million to 1.4 million in just one year. The company is also doubling down on customer services, including features like trial rooms and personalized beauty and personal care (BPC) guidance.
As the festive season approaches, Flipkart's ‘price lock' feature promises to provide shoppers with a more secure and predictable shopping experience, free from the worries of soaring prices and disappearing products.
Click for more updates and the latest tech news, along with Web stories updates. Also, get the latest news and top headlines from India and around the world at SpeedNews.
