Posts Tagged with “paytm mall”

Paytm Mall to splurge Rs 1,000 cr, mostly to offer discounts this festival season, say reports




Paytm Mall

Paytm Mall : The competition in the online shopping space in India is likely to heat up this festival season with one more player planning to splurge in order to woo customers.

According to media reports, Alibaba-backed Paytm Mall is planning to spend about Rs 1,000 crore this festive season, giving a tight competition to domestic e-commerce stalwarts Amazon and Flipkart.

According to a report in The Times of India, the amount earmarked will be utilised for marketing, cashbacks and promotions. It says, however, most of it will be spent on discounts.

Another report in The Economic Times notes that the amount to be spent is three-fold over last year’s expense of about Rs 300 crore by Amazon India, Flipkart and Snapdeal . This year, although New Delhi-based troubled etailer Snapdeal is not in the fray, Paytm Mall will more than compensate for it. It is to be remembered that this will be the first festival season of Paytm Mall, which was spun off into a separate app in April this year.

According to the report, the company is planning to add about 5,000 branded stores to its platform ahead of festival season sales.

“This festive season, while online retailers will focus on spending money and taking away business from shops in the neighborhood, we will work with them and bring special offers for consumers to shop from their nearby markets by enabling these shopkeepers with mobile technology,” Amit Sinha, COO, Paytm Mall, has been quoted as saying in the report.

The company owned by Paytm Ecommerce recently refreshed its app featuring 1,000 brand stores and 15,000 brand- authorised retailers selling over 65 million products.

Its aim is to clock a gross merchandise value (GMV) run rate of $4 billion by the end of March next year on the back of strong growth in transactions on its platform.

The e-commerce firm expects strong demand in categories like electronics, appliances, FMCG and fashion to drive its growth.

The brands the company is looking at include Apple, Samsung, HP, Lenovo, JBL, Philips, Puma, Allen Solly, Lee, Pepe, Levi’s, Fossil and Vero Moda, among others, to drive growth.

However, analysts quoted in the ET report feel Paytm Mall may find it difficult to make a mark in fashion and retail even as consumer electronics and appliances may not be a major issue.

With all the players drawing up strategies to attract consumers, buyers can definitely expect a great festival season ahead with mouth-watering discounts.

Source : FirstPost

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Paytm Mall Set to Hire 2,000 Employees This Year in Business Expansion




Online shopping platform Paytm Mall is set to hire nearly 2,000 new personnel across various business and tech roles to effectively scale its operations.

 The shopping platform is under the wing of Paytm Ecommerce, a recently incorporated separate entity by the parent company One97 Communications, to address the potential in online commerce, Paytm said in a statement in Mumbai.
 Further, Paytm has moved over 800 personnel actively involved in the growth of its e-commerce business from One97 Communications to the newly incorporated Paytm Mall.
 Paytm Mall recently raised $200 million from SAIF Partners and Alibaba Group Holdings to grow its business.
 The firm has put together a team with diverse set of experiences and skill sets to handle key roles, it said. The team will continue overseeing various categories across the company.
 “We will make the largest selection of products available to customers on their smartphone, while empowering brands and local shopkeepers to sell online and offline with equal ease,” Paytm Mall’s Chief Operating Officer Amit Sinha said in the statement.
 Paytm Mall is also scaling its partner network by adding another 3,000 Paytm agents to its existing workforce as it goes deeper into tier II and tier III cities, digitising catalogues of neighbourhood shopkeepers and trusted brands, it said.
 It will leverage mobile technology to make its wide retail inventory available to customers while helping retailers reach out to a wider set of customers around them.
 Disclosure: Paytm’s parent company One97 is an investor in Gadgets 360.

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