Published 16:40 IST, June 27th 2020
Whopping seller registrations by local MSMEs amid the COVID-19 pandemic: Flipkart
E-commerce giant Flipkart on Saturday revealed that amid the COVID-19 pandemic, they had witnessed a massive surge of new registrations by local MSMEs
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E-commerce giant Flipkart on Saturday revealed that amid the COVID-19 pandemic, they had witnessed a massive surge of new registrations by local MSMEs. According to the company, local sellers had begun to realise the importance of a digital economy and how they needed to shift their business online when selling through their physical shops became difficult in the wake of the nationwide health crisis. It stated that between the months of April to June, it had seen a whopping 125 per cent increase in new sellers signing up on the online retail platform.
"Local micro, small and medium enterprises (MSMEs) across the nation have realised the true value of e-commerce that enables them to stay connected with millions of customers," said Flipkart.
Flipkart stated that maximum new sellers that had registered themselves onto the platform between these months hailed from Uttar Pradesh, Maharashtra, West Bengal, Delhi NCR and Tamil Nadu. The categories that most of these sellers belonged to include women's clothing, personal care, food and nutrition, home improvement tools and baby-care products.
Flipkart's Growth Capital Programme
To aid the seller's tide through tough times, Flipkart has also launched a special offer on loans through Flipkart's Growth Capital Programme designed specifically to enable independence for MSMEs who operate online. Through their program, the retail giant hopes to attract more MSMEs via incentives such as credit at competitive interest rates, one-day approval rate and disbursal within 48 hours.
With the three-month moratorium period that has been implemented on existing loans, the sellers do not need to make immediate payments during this period. According to the statement issued by Flipkart, any additional amount on sellers' existing loans sanctioned during this period will have an extended financial limit with a six-month moratorium period.
(With Agency Inputs)
16:40 IST, June 27th 2020