Provides them financial, health and safety benefits
E-commerce major Flipkart has extended various initiatives to lakhs of MSMEs, small scale sellers, artisans, weavers and handicraft partners to help them tide through challenges in the current scenario. These efforts range from financial benefits, health and safety benefits, support through existing seller policies to working capital and insights provided to sellers on the platform.
Prioritizing the health and safety of all, Flipkart will bear 100 per cent premium of Covid insurance extended to all sellers, that covers their hospitalization and consultation between ₹50,000 to ₹3 lakh.
Jagjeet Harode, Senior Director and Head – Marketplace, Flipkart, said, “Through these testing times it is our constant effort to support our seller partners who face immense operational challenges as a result of the pandemic. As a democratic marketplace, we want to ensure that our lakhs of seller partners are able to continue operations and keep the economic engine running. With them and their family’s financial and health safety in mind, we have rolled out these initiatives that will bring them the much-needed respite to keep their businesses active.”
Flipkart has further updated its existing policies to safeguard three lakh sellers and their businesses.
It has extended the window for the Seller Protection Fund (SPF), within which sellers have to claim SPF on returned products – from the regular 14 days to 30 days. The company will further ease the policies and performance metrics for its sellers to ensure that their business growth is not impacted by state-led lockdowns.
In order to further assist sellers with their operational and other capabilities, the company is providing easier access to working capital. Under this, all sellers impacted by pandemic-related disruptions will have an option of early settlement (next-day payment) without any incremental cost. Transaction fee for the same will be borne by Flipkart.
Additionally, Vriddhi – Walmart’s Supplier Development Program in India, in partnership with Flipkart – has been organizing webinars for small businesses with an aim to disseminate knowledge and share best practices to ensure the safety of their workforce and provide relevant demand insights to help them stay operational through this second wave.