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Start-up Coutloot launches 'Automatic Bargaining' for online shoppers

Start-up Coutloot launches 'Automatic Bargaining' for online shoppers

Mumbai-based Coutloot provides an online space for over six lakh local sellers to sell their products across the country; it has over 20 million listings on its app.

Start-up Coutloot launches 'Automatic Bargaining' for online shoppers  (Photo: Reuters) Start-up Coutloot launches 'Automatic Bargaining' for online shoppers (Photo: Reuters)

Indian social commerce platform Coutloot, which has been built on the lines of Taobao, has launched a feature that allows both buyers and sellers to bargain automatically.

The 'Automatic Bargain' feature provides the buyer a pre-set bargain price within a chat box. The buyer then can select and quote a favourable price, which he or she thinks is fair for the product.

“India has always been an assisted shopping market where we shop via assistance through up-selling and getting the right price from the seller via bargaining,” said Jasmeet Thind, Founder, Coutloot.

“Coutloot has brought offline retail sellers and street vendors to sell online for the first time in their lives and made it possible for buyers to live bargain with the seller without having to wait for the seller to be online. Our auto-bargain feature makes a deal between the buyer and seller instantly,” he added.

Mumbai-based Coutloot provides an online space for over six lakh local sellers to sell their products across the country. Further, the products sold on Coutloot are indigenous and do not bear an MRP tag.

Incidentally, the start-up has also taken its chat and bargaining feature a step forward by recently rolling out a chat feature in 12 different Indian languages.

Founded by Thind and Mahima Kaul, Coutloot is a platform that allows sellers list non-MRP, unbranded local market products across fashion, electronics, home decor, sports, and other boxed categories that comprise 75 per cent of India's retail sector. It has over 20 million listings on its app.

The company, which is growing at a CAGR of 300 per cent over the last three years, is looking to clock a platform GMV of Rs 1,000 crore by 2022 on the back of rising demand coming from smaller towns.

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