The e-commerce scenario in India is changing by the hour. Flipkart, the market leader is looking to raise $1 million whilst arch rival Snapdeal is laying off half its employees to sustain in the market. The global e-commerce giant, Amazon, is becoming increasingly strong in the Indian market due to its varied offerings.
Just then, Alibaba backed mobile e-wallet chooses to drop a bomb and announce the launch of the Paytm Mall app for Android. Paytm, which is a mobile wallet company, had been selling things on its app like apparel, electronics, groceries etc without much success in the area. However, due to the new government regulations, it has had to separate the e-commerce vertical.
Paytm had hit an all time high during the demonetization and to continue with their success, they are in the process of launching a Payments Bank system. Alibaba holds almost 40% stakes of the company.
About the Paytm mall
Currently, Paytm claims to have more than 1,20,000 sellers and 65 million SKUs aboard. Paytm mall will be a revolution of sorts in the e-commerce market as it will combine concepts of both the mall and the bazaar. According to their press release, Paytm is only going to sell verified and checked goods which need to pass a strict quality test. All the products which will be made available on the mall will have to pass through Paytm Warehouses and identified shipping channels only.
“In our journey to become the preferred e-commerce platform for Indians, the launch of the Paytm Mall app is an important step as it connects consumers with trusted sellers.” -Saurabh Vashishtha, Vice President, Paytm
The company setting up its own e-commerce wing is similar to that of Alibaba’s e-commerce mall, Tmall. Tmall, in China, is responsible for almost 50% of all B2C online retail sales.
Related Post: All you need to know about the Paytm bank
Paytm mall has a tough road ahead
Paytm mall has to sweat it out with biggies like Flipkart and Snapdeal to strike gold in the Indian e-commerce industry. It has already tied up with over 40 courier partners across the country and is going to soon roll out the iOS version of the app as well. A statement issued by the company also claims that the app will, in the near future, launch an upgraded version of the Paytm Seller app which will be available in 7 regional languages.