Flipkart's 'price lock' feature: Your ultimate guide to savings for this festive season

Delhi : Flipkart is an E-commerce platform will launch a price lock feature for the upcoming holiday season that will allow customers to pay a small deposit and guarantee that a specific product, at a specific price, will be available for them later even if demand surges, according to the company's chief product and technology officer (CPTO), Jeyandran Venugopal.

If used, the function would also protect clients against price changes or product shortages that are common during holiday sales. The new function is comparable to what online flight booking companies provide to users. Flyers may shield themselves from the consequences of an unprecedented increase in demand or sold-out flights by paying a certain amount in advance. Flipkart aims to provide similar services.

At Walmart's Converge event on September 15, Venugopal stated, "During festive seasons, we have received feedback that products are sold out or unavailable within minutes. With the new price lock feature, people will be able to lock the inventory they need."

The statement comes as major holiday shopping season, which traditionally starts in October and ends with Diwali, is being prepared for by online retailers like Flipkart and Amazon.