Pricing Policy

Pricing Policy for Reqab Online Private Limited

1. Introduction This pricing policy outlines the principles and guidelines for setting, displaying, and managing prices on our e-commerce marketplace, which specializes in Kashmiri handicrafts and apparel. The policy is designed to ensure fair pricing, transparency, and a balance between profitability and customer value while supporting artisans and vendors.

2. Pricing Objectives

  • Promote fair trade by offering competitive prices that support artisans’ livelihoods.
  • Maintain transparency for customers by clearly displaying prices, taxes, and other charges.
  • Foster trust with vendors through consistent and transparent pricing guidelines.
  • Ensure sustainable profitability for the marketplace while providing value to customers.

3. Pricing Structure The pricing structure in the marketplace is divided into two main components:

3.1. Vendor-Set Prices Vendors are encouraged to set competitive product prices. However, the following guidelines apply:

  • Cost-Based Pricing: Prices should reflect the cost of production, including materials, labour, and any associated logistics.
  • Profit Margin: Vendors may add a reasonable profit margin based on the market demand and uniqueness of the product.
  • Competitive Pricing: Vendors should remain competitive by researching similar products.
  • Seasonal and Promotional Adjustments: With prior approval from the marketplace, vendors can adjust prices for festivals, sales events, or clearances.

3.2. Marketplace Fees and Commissions The marketplace will charge a commission on each sale to cover operational costs and marketing efforts. The commission structure is:

  • Standard Commission Rate: A fixed percentage of the selling price.
  • Category-Based Commissions: Certain categories may have different commission rates depending on product type and handling complexity.
  • Listing Fees (if applicable): A minimal fee may be charged for premium listings or promotional placements.

4. Pricing Transparency To ensure transparency for customers:

  • Product Listings: All product listings must clearly display the final price, including any applicable taxes.
  • Shipping and Handling Costs: Shipping charges, if any, must be explicitly stated at checkout.
  • Discounts and Offers: Any discounts or promotional offers must be clear and indicate the original price and the discounted price.

5. Minimum Advertised Price (MAP) Policy

  • Vendors must comply with the minimum advertised price for products that have a MAP set by the marketplace to maintain brand value and fair competition.

6. Discounting and Promotions The marketplace will organize promotions and sales events periodically. The following guidelines apply:

  • Vendor-initiated Discounts: Vendors are free to offer discounts within the marketplace guidelines.
  • Marketplace Promotions: The marketplace may offer discounts and promotions funded by the platform or in collaboration with vendors.
  • Clear Communication: All promotional pricing must be communicated clearly and transparently.

7. Refunds and Price Adjustments

  • Refunds: If a product is eligible for a refund, the refunded amount will be calculated based on the purchase price.
  • Price Adjustments: In the case of pricing errors, the marketplace reserves the right to correct prices before completing the sale. Customers will be informed of any significant changes.

8. Prohibited Practices

  • Price Fixing: Any collusion between vendors to fix prices is strictly prohibited.
  • Misleading Prices: Vendors must not inflate original prices to create a false impression of discounts.
  • Hidden Charges: All charges must be explicitly stated. No hidden fees are allowed.

9. Monitoring and Compliance The marketplace will regularly monitor pricing compliance. Violations of this policy may result in warnings, delisting of products, or account suspension.

10. Policy Review This pricing policy will be reviewed periodically and updated as necessary to reflect market conditions, business needs, and regulatory requirements.

11. Contact Information For any questions regarding this pricing policy, vendors and customers may contact us at email: care@reqab.com or call us at phone no: +91 8899003398.