Industry

Paytm in festive mood with ₹1,000 cr.

Festival push: Paytm is aggressively on boarding shopkeepers and brand authorised stores across India.

Festival push: Paytm is aggressively on boarding shopkeepers and brand authorised stores across India.   | Photo Credit: Sushil Kumar Verma

To spend on marketing, cashback

E-marketplace Paytm Mall has planned a “war chest” of about ₹1,000 crore for the festive season this year.

The investments will be used for marketing and promotional spends, including cashbacks, as the recently established firm will work “with merchant partners on campaigns to unveil the biggest retail extravaganza of the year”.

“This festive season, we will give the power of technology in the hands of local shopkeepers to make this season big for them,” said Amit Sinha, chief operating officer, Paytm Mall.

“Our promise is to offer customers the best and biggest offers from trusted retailers and make our platform the de-facto first choice for online shopping,” he said.

Recently, the company had also announced that it would hire about 2,000 people this year as it looked to scale-up operations to tap into the rapidly expanding market for e-commerce in the country.

“Since this is the company’s first festive season sale since launch, it is aggressively on boarding shopkeepers and brand authorised stores across the country to offer a trusted buying experience and faster deliveries to consumers,” the firm said.

Ahead of the festive season, the Alibaba-backed Paytm Mall had also revamped its mobile application, which now features 1,000 brand stores and 15,000 brand-authorised retailers selling more than 65 million products.

During this season, cashbacks and promotions will be offered on products, including fashion (led by ethnic wear), gifts and sweets, electronics and appliances, consumer durables and home furnishings.

Equipping shopkeepers

“Paytm Mall is equipping trusted shopkeepers and brand authorised sellers with technology by digitising their catalogues, opening their store on its mall and making their shops QR Code-enabled. This will enable these retailers to serve a wider set of customers,” the company added.

Paytm Mall has brands such as Apple, Samsung, LG, Oppo, Sony, HP, Lenovo, JBL, Philips, Puma, Allen Solly, Lee, Pepe, Levi’s, Vero Moda, Van Heusen, Woodland, Catwalk, Sketchers, Red Tape, Crocs and Fossil, among others.

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Printable version | Apr 4, 2020 9:07:37 AM | https://www.thehindu.com/business/Industry/paytm-in-festive-mood-with-1000-cr/article19615717.ece

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