New Delhi: One97 Communications Ltd, which runs Paytm, said on Tuesday that it will hold a festival sale event from 12 to 14 October.
Paytm expects to clock a three-fold increase in gross merchandise value (GMV) by December 2016 and a year-on-year increase of 400-500% in revenue from the festival season sale event called Maha Bazaar Sale. Paytm is targeting a monthly run rate of Rs3,000 crore, the company said in an e-mailed response to a query.
Focusing on expansion in tier-2 and 3 cities, Paytm will spend on regional media and offline channels, the company said.
The company claims to be offering benefits worth Rs1,000 crore including cashback and discounts.
“The Paytm marketplace has invested significantly in offering warehousing facilities at up to 90% discount at its 19 fulfillment centres, free consolidation centres at 35 locations and additional manpower to ensure faster and smoother operations during the peak season.”, said the company.
Paytm’s sale will include over 550 brands marketing and selling their products directly to customers across categories such as apparel, mobiles and electronics.