Paytm to hold festival sale from tomorrow
Paytm expects t year-on-year increase of 400-500% in revenue from the festival season sale called Maha Bazaar Sale
- EU finance ministers strike deal on overhaul of banking capital rules
- Big oil consumers start to lock-in prices as Brent urges to $80
- PSU bank recapitalisation plan stumbles as losses mount
- Govt orders out-of-turn coal supply to PSUs, private plants to be hit
- Oil prices fall as Russia floats gradual production increase
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.
Editor's Picks »
- Artificial intelligence predictions may not always lead to better decisions
- 2G case: Delhi HC defers hearing on CBI, ED plea against acquittals
- Friday Wrap: ‘Parmanu,’ ‘Solo’ make for dull movie week
- In order to grow, we need to get into other markets: Vince Voron
- IHH extends revised offer for Fortis to 30 June
- Motherson Sumi continues to face margin pressure in foreign markets
- What the Warren Buffett indicator tells us about market valuations today
- Jet Airways lands with a thud in Q4 as fuel costs increase
- IBC amendments: Some dilutions, and a lot more speed
- Patanjali’s gambit is paying off in toothpaste wars