Bangalore-based Ecommerce heavyweight Flipkart is announcing the launch of “Flipkart Marketplace“ today.
The marketplace kicks off with 50 SMB (small and medium businesses) sellers who will be hawking products in the books, media and consumer electronics categories. Clothes, shoes and other categories are expected to follow soon. Sellers will have access to Flipkart’s 10 lakh per day visitor traffic.
Reports of an eBay-like marketplace from the Tiger Global-backed Ecommerce company have been swirling since January and the marketplace itself was soft-launched in early February. It is important to note that the marketplace offering comes at a time when the overall Ecommerce sector in India finds itself under scrutiny for alleged FDI (foreign direct investment) regulation violations.
Most Ecommerce companies here are backed by venture capital or private equity investors, many of whom fall under the classification of foreign investors. FDI is barred in Ecommerce but marketplaces, like the one Flipkart has just launched, are allowed to raise funds from foreign investors.
What sellers and buyers can expect from Flipkart Marketplace :
- Buyers will continue to enjoy cash-on-delivery and EMI (equal monthly installment) options and existing return/replacement policies.
- Flipkart will take care of shipping and doorstep delivery through its logistics partners.
- The company will establish a consumer protection program to resolve any complaints.
- Sellers who provide a superior customer experience will receive prominence on the marketplace
- Sellers can list their items on Flipkart’s existing catalogue.
“ We created the blueprint for Flipkart Marketplace with the determination to take online shopping to the masses. In the last 12 months, more than 80 million unique visitors have come to Flipkart. Five out of six online Indians visit our website. Sellers on Flipkart will get access to this vast user base,” Flipkart CEO and co-founder Sachin Bansal said in a press release.
Image credit: Flipkart.