E-commerce regulations: Flipkart, Amazon, Snapdeal put sales on hold
India’s largest online marketplaces Flipkart, Amazon India and Snapdeal have temporarily suspended their sales so as to comply with new e-commerce regulations that ban marketplaces from influencing product pricesbusiness Updated: Apr 28, 2016 11:43 IST
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.
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.
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First Published: Apr 28, 2016 09:46 IST