Wholesale flipkart, b2b digital market from Flipkart Group, has launched a new credit program to help Kiranas (small environment stores) managing their working capital requirements, and this includes ‘easy credit’ — Shops can use credit in just two minutes – – In partnership with IdFC First Bank.
Launched last year, flipkart wholesalers supply various products to Kirana and MSME shops in categories including food, general merchandise, or mode. The new Flipkart wholesale credit scheme is in line with a series of initiatives that have been made to break local pain in Kiranas in India.
Wholesale flipkart expand its geographical trail
According to Flipkart, a new credit line will range from Rs 5,000 to Rs 2 Lakh with an interest-free period of up to 14 days. Kiranas can also take advantage of the benefits of flexible payment options through cash transfers and online as well as instant refunds if the order cancellation occurs while maintaining tabs on their balance and credit bills.
Adarsh Menon, senior vice president and head, wholesale flipkart, quoted: “We believe our new credit plan is adjusted to solve the local challenges faced by Kiranas in India and will help them manage their cash flow and enhance their purchasing experience on our platform. “
Amit Kumar, Liability Head-Retail & Banking Branch, Bank First IDFC, said, “Kirana Stores India explained more than two-thirds of the country’s retail landscape. Partnerships with Flipkart gave us the opportunity to enable Kiranas to access formal credit and improve business.”
Flipkart wholesalers serve more than 1.5 million members throughout the country, which include Kiranas / retailers, hotels, restaurants, cafeterias, offices and institutions.
Flipkart wholesale witnessed a 17% growth in Kirana’s customer base in January-June 2021 compared to the same period last year.
Wholesale flipkart recently announced plans for more than three geographical traces in India to close to 2,700 cities.
Wholesale flipkart compete with, among other players like Amazon and Reliance’s Jiomart who also made a big breakthrough to this room.
