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Tag: Paytm Mall

  • Paytm Mall sees 3X jump in transactions during festive sale

    Paytm Mall sees 3X jump in transactions during festive sale

    E-commerce platform Paytm Mall said it has seen a three-fold jump in transactions during the first four days of its festive sale, driven by categories like mobile phones, laptops and groceries.

    According to a report: Paytm Mall claimed that its platform has already received 50 million visitors this month and the increased traffic has contributed to higher sale for the Alibaba and SoftBank-backed entity.

    “We have received an overwhelming response…with over 50 million visitors coming to the platform. Categories such as mobile phones, laptops, appliances, consumer electronics and groceries continue to be hugely popular among the buyers,” Srinivas Mothey, Vice President, Paytm Mall said.

    He added that the platform has witnessed over 30 percent increase in the gross merchandise value (GMV) during the first four days of the sale (October 9-12).

    “Interestingly, during this sale we have also seen a lot of buyers coming from tier II and III cities who are first time buyers…EMI and bank offers have helped in 3X growth in transactions during the sale period,” Mothey said.

    Paytm Mall said it has partnered with leading brands and will jointly invest upwards of Rs 250 crore in cashback, Paytm Gold and other offers during its festive sale.

    Paytm Mall’s larger rivals Flipkart and Amazon India have been exchanging warring words and both have claimed they are ahead of the other, helped by record-breaking sales across categories like smartphones, large appliances and apparel during their annual festive sale.

    According to RedSeer Consulting, e-commerce companies in India have achieved US$ 1.5 billion (Rs 11,085 crore) in the first 2.5 days of the festive sale — led by sale of 4.6 million units of smartphones (translating into US$ 800 million), large appliances (US$ 170 million) and fashion (US$ 120 million).

    It added that the industry is on track to reach the US$ 3 billion-mark — twice that of last year — by the end of the five-day festive period. Players like Flipkart, Amazon India, Paytm Mall and ShopClues have lined up attractive offers and discounts across categories to woo customers.

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  • Amazon, Flipkart clock Rs 15,000 crore in just 5 days of festive sale

    Amazon, Flipkart clock Rs 15,000 crore in just 5 days of festive sale

    E-commerce companies in the country are estimated to have raked in sales worth Rs 15,000 crore in about five days of their festive sales with giants like Amazon India and Flipkart claiming stellar show across categories like smartphones, large appliances and fashion.

    RedSeer Consulting in its report said e-tailers had a better “sales performance over the five festive days from October 9-14”, generating about Rs 15,000 crore (around US$ 2 billion) in sales. This translates into about 64 per cent year-on-year growth compared to US$ 1.4 billion (around Rs 10,325 crore) generated in the 2017 edition.

    “The industry witnessed a higher growth this time compared to the last year. This was driven by multiple drivers, key being a larger shopper base from tier II (and beyond) cities. Affordability and loyalty schemes introduced by e-tailing players also played a huge role in converting the visitors into shoppers,” RedSeer said.

    Amazon India Senior Vice President and Country Head Amit Agarwal said their ‘Great Indian Festival’ sale in the first 36 hours alone nearly surpassed the numbers it registered during the same period last year.

    “The event exceeded our most aggressive plans across all the categories…more than 80 per cent of the new customers came from small towns, and we received orders from 99 percent of the serviceable pin-codes in the country in just four days,” he further said.

    He added that smartphone sales accounted for the largest portion in terms of value, while fashion was the biggest in terms of the units shipped.

    “Fashion was also the biggest category in terms of acquiring new customers with 63 percent orders coming from Tier II and III cities… We also saw 2 out of 3 customers using schemes like exchange, EMIs and bank offers,” he said.

    Interestingly, Amazon’s Hindi Website, which was launched recently, saw 2.4 times new customers coming and shopping on the platform as compared to a non-sales day.

    Arch rival Flipkart said its latest edition of the Big Billion Days sale has “smashed all the existing records to set new benchmarks for the entire Indian retail industry”.

    “Flipkart has recorded over 70 percent share of entire Indian e-commerce market in the 5 day-BBD’18 sale, matching scale with global marquee retail events…Gross merchandise value (GMV) grew 80 percent over the last year, whereas units grew by close to 2X year-on-year,” a Flipkart spokesperson said.

    Walmart-backed Flipkart claimed to be cornered 85 percent share in online fashion market and 75 percent share in large appliances category during the sale, while three-in-four smartphones bought between October 10-15 in India were on Flipkart.

    The spokesperson said there was almost 50 percent growth in number of new customers coming in, while one out of two shoppers used payment schemes like EMIs and bank offers.

    Flipkart pointed out that it saw close to 25 million people visiting its app on one of the sale days. This is the first mega shopping event being organised by Flipkart after Walmart acquired 77 percent stake in the company in a US$ 16 billion deal earlier this year.

    Paytm Mall, which is backed by investors like Alibaba and SoftBank, said over 12 million items were sold on its platform, led by categories like mobile phones, consumer electronics, fashion and groceries.

    It added that it had registered five times increase in transactions and sales compared to regular days with over 60 million visitors coming to the platform during the week-long sale. Also, over 2 lakh shopkeepers participated in the sale. ShopClues, which crossed the 1.5 million-order mark, said over 75 percent of its orders came in from tier III and IV towns, especially, from states like Karnataka, Kerala, Tamil Nadu, Assam, Gujarat, and Punjab.

    For Snapdeal, new buyers account for about 38 percent of all the orders placed during the sale so far. Paytm Mall kicked off its festive sale from October 9, while the others began a day later. While the first leg of the sale ended on these platforms on Sunday and Monday, more offers are expected to be rolled out as Diwali approaches.