Flipkart to introduce ‘price lock’ feature this festive season, check details here

    E-commerce giant Flipkart is preparing to introduce a new feature of locking the price of a product which will be available for the customers this festive season. The announcement of the upcoming feature was made at Walmart’s Converge event on September 15 by the Chief Product and Technology Officer (CPTO) of Flipkart, Jeyandran Venugopal, reported Money Control.

    The customers can book the product at a given price by paying a small amount and the price surge won’t be applicable later even if the demand for the product surges.

    As per the CPTO of Flipkart, the new e ‘price lock’ feature is being introduced in India in view of the upcoming festive season. Venugopal said, “During festive seasons, we have received feedback that products are sold out or unavailable within minutes and with the new price lock feature, people will be able to lock the price of the inventory they need.”

    Reportedly, the announcement was made when e-commerce platforms like Flipkart and Amazon were getting ready for the important festive days in India, especially during October.

    The upcoming ‘price lock’ feature will exactly be as the name suggests. It will enable the customer to pay a small deposit and book the particular product at a certain price which will be available for them even when the demand surges and the price rises in future. This feature will act as a shield for the customers from price fluctuation. This feature will be helpful as most of the products go out of stock during the festive sale.

    However, the company has not disclosed the date of its launch yet.

    At the Converge event of Walmart on September 15, Venugopal also said that the seller count of Flipkart has risen from 1.1 million last year to 1.4 million this year.

    Prior to the announcement of the ‘price lock’ feature, Flipkart had revealed plans to create more than one lakh seasonal job opportunities across its chain which will include offering vacancies in the fulfilment centres, sortation centres and delivery hubs.

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