Paytm Mall forgoes commission from retailers during festive season sales
Paytm Mall, owned by by Paytm Ecommerce Pvt Ltd, said that the move aims at passing on more benefits to its retail and brand partners.
New Delhi: Paytm Mall said on Wednesday that it will not charge commissions from mobile, laptop and large appliance retailers during the festive season sale in a bid to strengthen relationship with vendors on its platform.
Paytm Mall, owned by by Paytm Ecommerce Pvt Ltd, said that the move aims at passing on more benefits to its retail and brand partners. It expects authorised stores and brands like Croma, Reliance, Samsung, LG, Panasonic, Dell, Lenovo along with multi-brand outlets to gain from sales in the upcoming festive season sale.
“Our partners are an integral part of our journey and we are strengthening our relationship by removing our commission and giving them the benefit on each sale this festive season,” said Amit Sinha, chief operating officer at Paytm Mall.
The company has also forged partnerships with large formal retail stories including Big Bazaar, Sargam, Bajaj Electronics, Reliance Digital along with brand exclusive stories to ride on its strength of the offline to online (O2O) business model.
Paytm Mall, currently the third biggest player in India’s rapidly growing online retail space, is going all out to compete with behemoths like Walmart’s Flipkart and Amazon. It plans to offer cashbacks worth more than Rs 501 crore in the run up to the festive sales this Diwali, Mint reported.
Paytm Mall, inspired by Alibaba’s T-mall in China, will also promote offline sales through various marketing and consumer awareness initiatives, it said in a statement. Alongside, it has enabled deliveries of large appliances directly from brand authorised stores.
“We have planned various joint market and consumer outreach initiatives during this festive season to ensure the business growth of our partners as well,” Sinha added.