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OpenStores brings to you the most innovative and problem-solving products to make your day to day life easy. Join the OpenStore family of more than 1000+ happy sellers/customers from around the nation.
A community-owned store is a store financed and owned solely by members of a community. Because residents own the store, they can tailor the store to meet the unique needs of consumers and can set fair prices. Also known as mercantile or general stores, community-owned stores are designed by residents to meet specific local shopping needs at fair prices.
Open stores buyers get a good return on the money spent as opposed to chain stores, the model can provide a considerable boost to a community’s economy.
Here is an example of an Rs.550 item (actual cost of the product ) being sold at an existing e-commerce site. The Sellers/resellers set a price of 935 in order to make a profit/GST/market fee payment.
After deduction, he gets Rs.643 The seller gets a very thin margin of Rs.93 thus seller doesn't keep the fair price on the site and hikes up to meet out e-commerce fee and finally the end-user affected by the price. The seller gets penalized if the product is returned back by customers. Also, there are various scenarios where Seller and consumer are affected.
|Commission @ 15%||140.25|
|Shipping Fee ||66.00|
|Tax Collected at Source [1%] ||7.92|
|Collection Fee ||3.37|
|Fixed Fee ||2.70|
|Net Earnings||₹ 643.94|
|Total paid (fee + GST) = (935-643 ) ||292.00|
|Net profit on product = (643 - 550)||Rs.93.00|
Hence reseller keeps raising the retail prices in order to gain profit thus affecting the customer.
This open stores platform is meant to clear those gaps in direct selling on the fair pricing model by not applying the standard and market fee which helps sellers and buyer more profitable.