Paytm Mall launch:
Paytm Mall the new marketplace from Paytm and under the ownership of Alibaba launched on 27th Feb 2017. Paytm Mall is supposed to create disruption in the market by giving discount coupons, cashbacks and offers which would make players like Snapdeal and Flipkart give further discounts to stay competitive. Paytm Mall coupons would be similar to Paytm coupons with cashbacks ranging from 1.4 lakh sellers over 68 million products. Paytm Mall at launch would be a unicorn or a marketplace with a 1 billion dollar valuation with an expected investment of 200 million dollars from Alibaba.Paytm Mall Promocodes Paytm Mall Offers
Paytm is one of the pioneers in digital payments but was one of the last entrants in the fierce horizontal commerce race where Flipkart entered in 2007, amazon in 2013, Snapdeal in 2011 and shopclues in 2012. Even though the company started in 2010 by one97 communications Paytm started their marketplace in March 2014. Paytm initially had innovations like chat and bargain to start with but that did not get a lot of traction.
Paytm started getting massive traction in 2015 when they launched 100% cashback sales. The launch with affiliates like Buyhatke and other couponing and comparison sites also further boosted the visibility. Paytm has always prided itself as a mobile first marketplace and their app crossed 1 million downloads in nov 2014, 10 million downloads nov 2015 and 50 million downloads in nov 2016 post the historic demonetisation move which Paytm capitalized with massive front page ads on leading news papers. Paytm has been well capitalised and has received a funding of about 880 million USD from Alibaba and ANT financial group.
Paytm has one of the most versatile platforms offering recharges, travel bookings, hotel, movie bookings, wallet, bill payments and marketplace. It started planning to seperate marketplace and the payments side of business. Because alibaba was more interested into marketplace side of things and with Snapdeal’s investment not seemingly a good one for alibaba they decided to take a bet on paytm. And in order to have a tighter control on things and play by their rules it was decided that Paytm into two units the payments business and the marketplace business.
The wallet recently crossed 200 million registered users on 27 feb and has a 106 million users with balance or a debit or credit card saved. The total balance with all those users in the Paytm wallet is ₹899 crores. The Paytm wallet is right now processing about 8.5 million transactions a day which is slightly short of 10 million that credit and debit cards process in a day, says Vijay Shekhar Sharma the CEO of Paytm. Paytm did ₹5000 crore worth of transactions on its platform in Jan 2017.Paytm Mall Promocodes Paytm Mall Offers
The play for Paytm Mall started in end of 2016. Paytm created a seperate team to work on Paytm Mall lead by vice president Saurabh Vashistha. The platform launched in feb 2017 with a dedicated app and a website. Paytm Mall’s focus is going to be on structured categories and brand-authorised stores with a focus on electronics, top fashion brands and FMCG categories. This is interesting because then this takes a sweep at horizontal portals like amazon, Flipkart, myntra and also at things like amazon now which focus on FMCG categories. Paytm Mall’s inspiration comes from T-mall the chinese store which alibaba owns.
“We have defined quality criteria for sellers and are building strict controls over warehousing and shipping for products sold on Paytm Mall. Consumers would continue to get the largest assortment of domestic and international products through Paytm Bazaar, which will also be featured on the new app,” said Patym’s Saurabh Vashishtha on the launch of Paytm Mall.
The platform has started with 17 fulfilment centres and 40 courier partners. Paytm Mall would have the superb reach with the core Paytm product having over 200 million users and the app plans to innovate on the lines of launching a combination of the Mall and Bazaar concepts to the Indian consumers.
The app has over 1.4 lakh sellers selling over 68 million products. The seperate seller app has also been launched and is coming in multiple language support soon.
The larger threat for Indian players like Flipkart, Snapdeal comes from the fact that it is going to leverage the strong reach of Alibaba’s seller base and also the investee companies of Alibaba like Zalora, and others in South-East Asia. This creates a massive catalogue for Paytm which would be harder to replicate. Paytm is one of the few players who offers exhaustive coupons and promo codes. Most other players like amazon or Flipkart or Snapdeal focus on direct discounting or bank offers and hardly have coupons.
How excited are you about the Paytm Mall marketplace ? Do you feel it would offer cheap quality chinese products or do you feel they would become a source of authentic products ?
Also are you looking forward to availing Paytm Mall coupons and cashbacks or you have for now decided to shop from the regular stores like amazon Flipkart or Snapdeal ?Paytm Mall Promocodes Paytm Mall Offers