E-commerce regulations: Flipkart, Amazon, Snapdeal put sales on hold | business | Hindustan Times
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E-commerce regulations: Flipkart, Amazon, Snapdeal put sales on hold

business Updated: Apr 28, 2016 11:43 IST
Flipkart

While Flipkart, Amazon India and Snapdeal continue to fund discounts purportedly given by third-party sellers on their sites, they are said to have cancelled planned sale events and accompanying advertisements to avoid potential punishment from regulators.(Pradeep Gaur/Mint)

Flipkart, Amazon India and Snapdeal — three of India’s largest online marketplaces — are said to have suspended their sales temporarily in compliance with new e-commerce regulations that ban such portals from influencing product prices.

Five people familiar with the matter said on the condition of anonymity that while the three companies continue to fund discounts purportedly given by third-party sellers, they have cancelled planned sales events and accompanying advertisements to avoid potential punishment from regulators.

Read: Govt cuts e-commerce price advantage to save retail

Flipkart has cancelled its plan of doing an app-only sale during the first week of May, the sources said. Snapdeal and Amazon have also suspended plans to hold one-day sale events where products across categories were supposed to be offered at a discounted price, they added.

The three companies are reportedly looking at new ways to fund discounts and advertise sales. They want to be ready with the new discounting mechanisms and ad messages in time for the festive season, which kicks off in August and goes on through Diwali in October.

For the complete Mint article, click here .

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