Walmart Gives Free Covid Insurance Worth Rs 3 Lakh To 300,000 Sellers On Flipkart; Will Amazon Follow Suit?
Flipkart will now be exempting storage and cancellation fees for its sellers on the platform. Additionally, the Walmart owned e-commerce giant will also be offering insurance coverage so that the relationship between them remains cordial
Read on for all the details!
Flipkart Waives Storage Fees, Cancellation Fees For Sellers
Flipkart has confirmed that the sellers who use the company fulfilment centres required to pay storage fees will not be required to do so for the next month. Flipkart is also waiving of cancellation fees until the end of the month.
The e-commerce giant is attempting to maintain friendly relationships with more than 300000 Sellers who are suffering the ups and downs in business due to the spread of the coronavirus disease in the country.
As we all know, many of the states in India have resorted to restricting deliveries to only non-essential items as they did in the first wave of the virus.
Amazon has also recently announced that they will be waiving 50% of the referral fee sellers are required to pay to Amazon for the current month.
Flipkart To Bear 100% Premium Of COVID Insurance For All Sellers
As per reports, Flipkart also plans to bear 100% premium of Covid insurance to all the sellers who transact on the platform. This will cover all hospitalisation and consultation fees that range anything between 50,000 Indian rupees ($685) to 300,000 Indian rupees ($4095).
Flipkart has also stated that it will now be easier for sellers to access working capital from the company without incurring any incremental cost. However the specific steps have not been clarified by the Bangalore owned company.
In a statement, Jagjeet Harode, senior director and head of Marketplace at Flipkart has stated, “As a democratic marketplace, we want to ensure that our lakhs [hundreds of thousands] of seller partners are able to continue operations and keep the economic engine running.”
Flipkart is also expanding the window for the Seller Protection Fund. The window was previously 14 days and will now be 30 days if claims are to be made on returned products. Additionally, some of the policies and performance metrics will also be eased by Flipkart so that the lockdown does not affect them.