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Social commerce firm CoutLoot launches online platform to connect sellers and manufacturers

Social commerce firm CoutLoot

Social commerce firm CoutLoot platform for sellers and manufacturers

A popular Social commerce firm CoutLoot has announced the creation of a wholesale platform that will connect millions of offline and online vendors with small and medium-sized businesses across the country. 
 
Sellers and merchants can source fast-moving products directly from manufacturers via this platform, eliminating the need for middlemen and maximising profit. Over seven lakh vendors would benefit from the platform, which will help them source products faster and triple their earnings. 
 
Sellers can presently choose from over 5,000 SKUs from 240 small and medium factories in India on the wholesale platform. Over the next two months, the goal is to have roughly 60,000 SKUs. 
 
This is significant since Coutloot has helped over six lakh small street stores and merchants extend their company online in the last year, allowing them to earn seven times more money. Interestingly, smaller towns account for approximately 70% of Coutloot’s users.

Social commerce firm CoutLoot

Coutloot is a platform that allows consumers and sellers to negotiate when purchasing, founded by Jasmeet Thind and Mahima Kaul. It assists sellers in listing non-MRP (non-fixed-price), unbranded local market products in fashion, electronics, home decor, sports, and other packaged categories, which account for three-quarters of India’s retail industry. 
 
“The wholesale SAAS platform will be coupled with other platforms, such as short video apps, logistics platforms, and so on, to address every tiny Indian business or creator’s supply chain issue.” Sellers would be able to get products directly from manufacturers at lower MoQs (minimum order quantities) and better prices, allowing them to place orders even with limited operating capital. It will also help them increase their profit margins,” Thind added. 
 
CoutLoot plans to establish a strong network of three million sellers on its platform by the end of 2022, after raising a total of $12 million from Ameba Capital, 9Unicorns, Venture Catalysts, and Astarc Ventures. 

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