Paytm Mall bets big with cashback offers
NEWDELHI: Paytm Mall is launching its first major sales event on September 20-13, which will see the company line up cashback offers of as much as ₹501 crore.
During the ‘Mera Cash Back’ sale event, which coincides with Flipkart’s Big Big Billion Days (BBD) sale on September 20-24, the company aims to rope in 5 million new buyers, it said in a statement on Sunday.
Paytm Mall, One97 Communications’ standalone unit that raised funding from Alibaba and SAIF Partners earlier in February, has swiftly scaled up operations and is taking on bigger rivals Flipkart and Amazon.
The Vijay Shekhar Sharmacontrolled company has so far played to its strengths—offering cash back offers and an offline-toonline strategy, on the lines of China’s T-mall that offers synergies in logistics and warehousing—to attract buyers. While it hasn’t revealed sales numbers so far, strategic moves like—moving 800 staff to Paytm Mall, appointment of senior Alilbaba executives to the board, and the expansion of Qr-code (quick response) capabilities to Paytm’s merchant network seems to suggest a healthy overall growth.
During the sale Paytm Mall will offer cash-backs ranging 15% to 100% of merchandise value on consumer electronics, mobile phones, fashion products and other items. This translates to cash-backs worth up to ₹15,000 on smartphones, ₹20,000 on laptops, and up to 20% of value on large appliances like TVS, refrigerators and washing machines.
To spice things up, it will award 100% cash back to 25 phone buyers and 100 grams Paytm Gold to 200 customers every day during the four-day sale.
“In the first ever festive sale of Paytm Mall, we have collaborated with our partner brands and merchants to bring one of the largest assortment of cashback offers,” chief operating officer Amit Sinha said.
The company said top brands like Apple, JBL, Woodland, Timex and others have partnered for the sales event. Under the O2O model, where it has tied-up directly with brand-authorised stores, retail chains as well as small stores, orders will be serviced from local consumers stores.