Social commerce platform CoutLoot has rolled out a new wholesale platform aimed at small- to medium-sized businesses (SMBs) in India, Economic Times reported Wednesday (April 13).
Per the report, the platform will allow the sourcing of fast-moving products directly from the manufacturers, which will cut down on the need for middlemen and allow for more profits.
CoutLoot has reportedly helped many businesses expand their work. Jasmeet Thind, co-founder of the company, said the platform is “tailor-made” for smaller companies, particularly those outside of metro cities in India.
The wholesale Software-as-a-Service platform can also be integrated with other platforms, short video apps and logistics platforms in order to help out with supply chain problems.
Thind added that the program was a benefit because it would allow sellers to source products directly from the manufacturers, and get things done even if they have less working capital. The report noted that CoutLoot is trying to get into smaller minimum order quantities to help even smaller businesses create their own online stores.
In other similar news, India’s Tata Group has debuted its eCommerce super app, which will offer various things like apparel, air tickets and other such things. Called Tata Neu, it will be something of a “single platform” for the group’s brands, including Westside fashion.
See also: Tata Group Debuts eCommerce App Tata Neu
The idea is to get into the bigger world of super apps, with big-name competitors like Amazon and Walmart already in the space. N. Chandrasekaran, chairman of the company, said the goal was to make peoples’ lives “simpler and easier.”
In addition, he said the company’s joint venture with the Vistara airline would be available soon on the app. Tata Neu will also come with a membership program and cross-brand loyalty scheme which will allow customers to earn rewards.