Cred announces Zero commission model for its store

CRED, a community of creditworthy individuals, brands and institutions, today introduced the Zero Commission CRED Store onboarding platform.

What is the Zero commission model

Starting January 26, 2022, CRED Store will be a Zero commission platform. Listing fees for onboarding and commissions from any sale will be waived off for all brand partners. In addition, to help them grow and create higher engagement with shoppers, features like passing exclusive bank offers and benefits for members, engaging fun and social formats to shop like auctions, leaderboards etc will also be introduced to help brands get greater connect with shoppers, it said in a statement.

Partners will work with CRED to increase the product selection on CRED Store and offer product launches for members, at member-exclusive prices. Additionally, the revamped partner onboarding platform will create a smoother and interactive experience for partners. From expression of interest to onboarding, the partners will be guided by the CRED team at every step. Considering a large number of Indian, urban D2C brands list and sell their products on Store, CRED will work with partners to provide them insights that help them grow their business, it added.

CRED members will get access to best price guarantees, exclusive products, curated offers and rewards in exchange for their CRED coins. Discovery initiatives like shopping festivals, CRED Drops events at the beginning of every month, category curations (CRED Tea Room, Coffee Store, Luxury Collection) and jackpots let members engage with the Store and brands.

Kunal Shah, Founder, CRED said, "Trust and transparency define relationships at CRED - with members, brands and all our partners. This is our philosophy for CRED Store as well - moving beyond transactional."

CRED Store, piloted in 2020, is a curated, member-exclusive selection of products and experiences at special prices that complement your taste.

Published on: Wednesday, January 26, 2022, 06:45 PM IST