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Social commerce firm CoutLoot launches platform to connect sellers with manufacturers

Social commerce firm CoutLoot launches platform to connect sellers with manufacturers

Through this platform, sellers and merchants can source fast moving products directly from the manufacturers thereby eliminating the need of middlemen and increasing profit.

Social commerce firm CoutLoot launches platform to connect sellers with manufacturers Social commerce firm CoutLoot launches platform to connect sellers with manufacturers

CoutLoot, a leading social commerce marketplace, has announced the launch of a wholesale platform to connect millions of offline and online sellers directly to the small and medium manufactures across the country.

Through this platform, sellers and merchants can source fast moving products directly from the manufactures, eliminating the need of middlemen and increasing profit. The platform would help over seven lakh sellers source their products faster and also boost their earnings three-fold.

The wholesale platform currently lets sellers chose from over 5,000 SKUs from across 240 small and medium factories in India. The aim is to have around 60,000 SKUs over the next two months.

This assumes significance as over the past one year, Coutloot has helped over six lakh small street shops and sellers expand their business online, helping them generate seven times more income. Incidentally, nearly 70 per cent of Coutloot’s users are in smaller towns.

Founded by Jasmeet Thind and Mahima Kaul, Coutloot is a platform that allows buyers and sellers to bargain while shopping. It helps sellers list non-MRP (non-fixed-price), unbranded local market products across fashion, electronics, home decor, sports and other boxed categories that account for three-fourths of India's retail market.

“The wholesale SAAS platform will be integrated with other platforms, short video apps, logistics platforms etc. to plug supply chain issue for every small Indian business or creator. The sellers would be able to source products directly from the manufacturers at smaller MoQs (minimum order quantity) at right price through which they can order even with a small working capital. It will also help them earn better margins,” said Thind.

CoutLoot, which has raised a cumulative amount of around $12 million from Ameba Capital, 9Unicorns, Venture Catalysts and Astarc Ventures, expects to have a strong network of three million sellers on its platform by end of 2022.

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Published on: Apr 13, 2022, 6:31 PM IST
Posted by: Tarab Zaidi, Apr 13, 2022, 6:25 PM IST