Fyndiq makes deals with selected merchants to allow our common customers to buy really good products at really good prices. Our deals are meant to be seen as a storefront for our customers, and should therefore be extraordinary. Basically a really great product at a really awesome price!
If you applied for and have been a selected merchant to make deals with Fyndiq, this "Additional Agreement" applies to these deals.
Definition Deals - A deal is a popular product that is of good quality and has a low price in each local market in the Nordics. Factors that also affect a deal are availability of the product, and that the deal would have been difficult to implement without volume and other scale advantages that you get if you sell many of the same product at the same time. All factors play a role in putting together a deal. Delivery times may vary depending on these different factors due to scale advantages to make the deal possible.
Deal Price - The common denominator for a great deal is that it is a really good bargain with a price that is at least 15-50% lower than similar comparable products. The goal is for these products to be able to turn over at least SEK 100,000 during one day. Example: An article with a price of 399 SEK (normally 699 SEK = 43% discount) that gets at least 300 orders would mean a turnover of 119 700 SEK, and thus considered as a great deal.
RRP (Recommended Retail Price) - You as a merchant are responsible for having a reasonable "original price" of your products. It should be a reasonable price for what the product would be worth if you would buy it elsewhere. Fyndiq will consider this price based on pricing in each local market in the Nordics.
Service fee for deals - The fee for deals differs from the standard fees at Fyndiq. This is determined separately together with each merchant and before each deal.
Storage Capacity (Booked for Fyndiq) - The stock that you say you have when you propose a deal for Fyndiq must be current when the deal is scheduled to go live. An approved deal must have a product price times storage capacity so that the sale should be able to reach at least SEK 100,000 in sales.
The merchant is responsible for the correct stock balance and the product being "for sale" and not blocked/ paused before a deal goes live.
Delivery Time - The merchant should deliver on time and preferably in good time if unforeseen events with logistics occur.
Post purchase - The merchant is responsible for delivering all products within the delivery time that is stated. The merchant should be online and available to Fyndiq's customer service to handle customer issues as quickly and efficiently as possible, for a good customer experience. The merchant needs to be well understood with all response codes and terminology so communication goes smoothly. You can also get guidance from the Merchant Support.
Security - You as a merchant are responsible for ensuring that the products in the deal are compliant with laws of each Nordic country and that you have all papers that are required. This could for instance include controlling CE marking if required for the product and to make sure guidelines and requirements from the Consumer Agency in each Nordic country are followed according the local law.
Image policy - As usual, the image policy applies.
Product quality - It is extremely important that the quality of the products is very good. In cases where a product is "unbranded" and there are different variations of quality from the factory, the merchant is responsible for ensuring that the quality is good. Fyndiq can request a sample to ensure the quality of the product if there are any uncertainties about the quality. Fyndiq does not pay for sent items and won't return them.
Title and product description - "It's all in the details", which means that both headline and product description are professionally written and consistent with the product. In addition, the merchant should strive for product texts to match customer expectations.
In case of breach of contract
When merchants do not comply with this additional agreement, for example if merchants deliver too late or if a product of poor quality, e.g. when customers are dissatisfied, Fyndiq has the right to refund all customers at the merchant's expense. Fyndiq also has the right to take a fee per sold product (usually 200 kr incl. VAT or corresponding amount in each local currency) if necessary to save Fyndiq's brand, which also will be deducted from the planned payment.
If a launched/active deal is cancelled before the agreed end time of a deal due to incorrect price, description, stock issues or other factors, Fyndiq has the right to charge a fee of 20 000 kr excl. VAT (or corresponding amount in the local currency) or higher if it is directly related to a damage or predicted profit.
Obviously, it is of high interest for any merchant to have their products on a deal, as it means free exposure to millions of potential customers. Hence, we also get very many proposals and are therefore very restrictive of what products and merchants are approved.
If you as a merchant meet the above requirements/ rules, you are welcome to send us your deal proposals to firstname.lastname@example.org with attached template and the topic “Deal proposal” and a title which best summarizes your products suggested. Please download this excel template and fill in!