By Samachar Digital News
Chandigarh 20th
June:- Pumpkart a renowned B2B E Commerce
platform has drawn up the blueprint to extend credit facility to retailers for
ease of doing business on its portal. Pumpkart will be the first E
commerce company to provide lending to retailers in the online space. The
idea behind the initiative is to start a credit flow to retailers to buy product
stocks using the recently launched Pumpkart app. The app was unveiled
by Vini Mahajan, Additional Chief Secretary (Industries & Commerce),
Punjab.
K S Bhatia, Co Founder, Pumpkart,
said that we have developed a unique model which will provide an interest free
credit for 25-30 days and post that a nominal charge of 1.25% -1.50% pm will be
charged. This will be offered to retailers on Pumpkart platform through mobile
wallet or card. After the Pumpkart app launch in May’19, the acceptability of
Pumpkart in the market is good and response from retailers is really exciting
thus good numbers of orders are being generated. Currently the conversion rate
which is 10-12% which is expected to grow up-to 70%, after the lending facility
goes live.
It is noteworthy that Pumpkart is a
B2B Online Marketplace dealing with retailers, wholesalers, corporates &
industry in multiple categories like kitchen & home appliances, electronics
& electrical goods etc.
He further added that we
are also going to launch LED TVs in the market. Since the market size for LED
TV is Rs 30-35 thousand crore annually, thus Pumpkart has planned to launch its
own brand in TV panels.
K S Bhatia further said that that the
facility for retailers will come into force from August 2019. The B2B Platform
has a product catalog of Appliances, Electrical, Electronics and Industrial
Supply. The platform plans to add 25000 retailers by the year end.
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