Delhi-based mobile commerce company Paytm has been witnessing a lot of attention from sometime now. The company, today said that it has clocked a whooping $1.5 Bn GMV run rate by targeting its 80 Mn wallet users.
As per the company, in last month itself, over 10k merchants had received orders via Paytm. Further, Paytm is targeting to reach GMV of $3-4 Bn by the end of March next year.
Paytm currently has over 10 Mn products and 40k merchants listed on its online marketplace. The company claims to add about 2-3 Mn products every month. Last month, Paytm had also launched a dedicated app for sellers to connect small businesses and consumers which works on a zero commission model.
Shankar Nath, Senior Vice President, Paytm said, “We focus on inclusive growth of the merchant base. We are constantly trying to generate a more equitable distribution of sales for our merchants; currently even the top merchant do not contribute to more than 5-7% of the total sales. I am sure, our benchmark of 10,000 merchants receiving orders on Paytm in the last 30 days is a result of our attention to working with one SME at a time.”
- Paytm clocks 90% of its orders from unstructured categories like fashion, home furnishing and accessories. Unlike others, Paytm’s 60% GMV is contributed by these categories.
- The top categories among these being clothes (with a significant mix of private labels), fashion accessories, footwear, electronics accessories, home and kitchen items.
- Average cart size is of about INR 1200-1400
- Does more than 60 Mn orders of various digital and physical goods every month
The company is also working to add more and more merchants on its online portal and is providing them full support through its logistics cloud and has helped them reach to over 39,000 pin codes in the country. There were also reports, that Paytm is in plans to bring in 1,00,000 sellers from Alibaba’s online arm AliExpress to its platform from August.