Updating Price and Stock on flipkart.com
Pricing a product appropriately leads to a win-win situation for both the dealers and the customers. This helps in boosting your sales. While pricing a product, you need to consider many factors like adding price and stock details on the system, knowing the procurement SLA for each product, and more. All these factors have a direct impact on your performance.
The price recommendations under the growth tab will benefit you in the following ways:
- Pricing your products using the Price Recommendations can win you the ‘Buy Now’ button.
- Adopting the price recommendations can give you the most competitive prices.
- The settlement value even after adopting price recommendations remains same.
Here are some do(s) and don’t(s) that you need to consider while pricing your product.
Adhering to Flipkart guidelines is very crucial. It is equally important to remember that once your product is listed, the buyers can see your product. Hence, you should keep the price, stock, and procurement SLA updated at all times. Here are the components that you must know about.
Shipping Fee
This is the fee that Flipkart charges you for delivering any product. It is charged as per the weight of the product. The shipping fee is calculated as per the location of the delivery, whether it is zonal, national, or international. There is a rate card guide on the site that you can refer to before fixing the price of your product. You can either choose to charge your customer by adding the shipping charges or keep it as the standard selling price irrespective of the delivery location. In such a scenario, the customer sees it as free delivery. You can also add this charge to the total value order, which the customer gets to see on checkout.
Selling Commission
This is the fee Flipkart charges you for using the platform. The fee varies depending on the verticals or categories of your product. You can check this from the rate card guide provided on the site. A part of this total commission is the collection fee. This is a fixed fee, which is 2.5% of the total selling price. The fixed fee is charged on the completion of a pre-paid or cash-on-delivery transactions. It varies as per the selling price of the product
The pointers mentioned above are very important and you must consider and fulfil all of them while pricing your product.
Stocks and taxes play a vital role during setting product prices.
Mentioned below are things you need to consider while pricing your product on Flipkart.Â
GST
This is charged on the total value of the product. Before deciding your selling price, you should consider the deductions applicable for you to arrive at a price which profits you and is attractive to the customer. You can do this by checking the prices offered by different sellers for the same product on other platforms. It is important to give genuine deals and discounts.
While setting the price, you must not exceed the MRP to show a fake discount. For instance, consider a smartphone being sold at Rs. 14000 whereas, the MRP of the phone is Rs. 11250 and you show the discount rate as 19% to arrive at the actual MRP. You must remember that the selling price cannot be more than the MRP. This is considered an MRP breach and will get you blacklisted.
You must avoid giving unrealistic discounts. This will give off a bad impression about your product and the customers may not trust it.
Updating Stock
This means adding the number of units for a product on the site. The maximum number of units cannot exceed 25. Updating stock details helps you maintain the inventory of a particular product. For example, if you have fast moving stocks, you can keep records accordingly to ensure that the product is available at all times.
Procurement SLA
This refers to the time taken for the product’s delivery to the customer. When the procurement SLA turnaround time is low, you will have a happy customer, and consequently, your visibility will increase as well.
Following these pointers will lead to more orders and better business.
If you want to make your products online on best marketplaces then, visit our latest blogs which helps you to know about how to sell on Amazon, Flipkart, Limeroad, Pepperfry, Paytm, Voonik, Snapdeal
