Paytm Mall has locked Rs 200 Crore for the upcoming 4 Days that it will provide to users post they make a buyout. This sum is in addition to the quantity billed for cash backs and discounts on its marketplace. Being the 1st season of festival for Paytm, the firm has associated with 50 companies for this program in the accumulation of the sale.
The move of Paytm to provide extra freebies on each purchase is hugely activated by presence of opponents such as Flipkart and Amazon, who are also investing forcefully to magnetize consumers on their marketplace. Mera Cashback Sale of Paytm will be carried out this week when others too will be conducting their yearly sales. Dubbed as Lucky Lifafa, the program will offer a surprise gift to consumers after the conclusion of every order. “We will be providing away exciting freebies and exclusive deals with each order confirmed on the platform. We are sure this will add major value to their shopping experience of this festival,” claimed COO of Paytm Mall, Amit Sinha, to the media in an interview.
Sinha claimed that the firm has also aligned flash sales that will occur a number of times at the time of the sale days all over entire segments. Paytm Mall is aiming on segments such as gifts, fashion, appliances, electronics, home furnishing, and consumer durables. It is anticipating a 5x development in general sales at the time of the sale time frame. “We have made a center logistics group to manage the extra demand and make certain the goods are delivered quickly to the consumers,” Sinha claimed. Firms such as Blue Dart, Delhivery, and Xpressbees are the logistics associates for the firm. Paytm’s e-commerce subsidiary has lifted $200 Million headed by Alibaba, and targets to bang a run rate of $4 Billion gross sales on an annualized basis. GMV or Gross sales is the general sales on an online platform, excluding returns and discounts, out of which e-commerce companies take a stake of 5% to 15% as their margin.
Well, let us see if Paytm can match with the likes of Amazon and Flipkart.