The Walmart-owned e-commerce giant Flipkart is planning to launch “Price Lock” features for its users in line with the upcoming festive season. The new “Price Lock” feature will help in solving the concerns or the problems that arise due to sudden sellouts and price variations during the festival sale price of products. This will also help the consumers to reserve their favorite products or items by paying a small amount at the set price.
Jeyandaran Venugopal, chief product and technology officer (CPTO), of Flipkart, stated “During festive seasons, we have received feedback that products are sold out or unavailable within minutes, and with the “Price Lock” feature, people will be able to lock the inventory they need.”
According to the statement given by Jeyandaran Venugopal, chief product and technology officer (CPTO), of Flipkart, there was no particular date was announced for introducing the “Price Lock” feature.
What is the “Price Lock” Feature?
Customers will be asked to pay a very small deposit amount under this new feature, which will ensure that they have access to a particular product at a set price even in the event of greater demand, according to the media report. This “lock” feature is designed to protect customers from price changes and product shortages, which are frequent during the festival season.
Jeyandaran Venugopal, chief product and technology officer (CPTO), of Flipkart further stated that there are now 1.4 million more sellers on Flipkart as compared to the previous year. The company, which has its headquarters in Bengaluru, has also strengthened its dedication to client services, adding attributes like trial rooms and individualized beauty and personal care advice.
Flipkart also stated earlier this month that it planned to open up more than one lakh seasonal job opportunities throughout its entire supply chain, including fulfillment centers, sortation hubs, and delivery hubs.
According to the company’s statement, local kirana delivery partners and women would have access to these seasonal jobs, both direct and indirect. Additionally, it stated that PWDs will be employed in order to develop a broad supply chain skill pool.