Flipkart, the Walmart-owned e-commerce giant, is set to launch a new price lock feature this festive season. The feature will allow customers to pay a small deposit to lock in the price of a product for a certain period of time, even if the price goes up later.
The price lock feature is expected to be launched in October, ahead of the Diwali sale. It will be available on a select range of products, including smartphones, laptops, TVs, and home appliances.
To use the price lock feature, customers will need to select the product they want to lock in and pay a deposit. The deposit amount will vary depending on the product price. Once the deposit is paid, the customer will have a certain amount of time to purchase the product at the locked-in price. If the customer does not purchase the product within the time frame, the deposit will be refunded.
The price lock feature is similar to what is offered by some flight booking portals. It is a good way for customers to protect themselves from price fluctuations, which are common during festive sales.
Here are some of the benefits of using the Flipkart price lock feature:
- Price protection: You can lock in the price of a product even if the price goes up later. This is especially beneficial during festive sales, when prices are often volatile.
- Peace of mind: You don’t have to worry about missing out on a good deal because the product sold out or the price went up.
- Flexibility: You have a certain amount of time to purchase the product at the locked-in price. This gives you flexibility to make a decision without feeling rushed.
Overall, the Flipkart price lock feature is a good addition to the platform. It will give customers peace of mind and help them save money during festive sales.