In order to offer a better shopping experience to its customers, Paytm has announced the launch of ‘Brand Stores’ on its marketplace, featuring over 1000 top brands.
According to Paytm, the online Brand Stores are independent online retail stores on Paytm’s platform, wherein brands can control the sellers, inventory, pricing and promotions. They will also be able to run promotional campaigns and tag their physical stores, enabling them to generate sales for their offline channel through this online store.
Paytm has tied up with multiple brands including Puma, Samsung, Casio, and Samsonite to open their stores on its platform. It will provide necessary support to brands to manage functions like data analytics, catalogue management, payment tools, logistics, and creating online campaigns. It will also allow the brands to have the flexibility to decide the look and feel of their store, run promotions and design their own campaigns. The brands will also be allowed to tag their physical stores and generate sales for their offline channels through the online store.
Paytm’s Vice President Amit Bagaria said, “We believe that the true power of online platforms is in connecting sellers and brands directly to the end customers. Our Brand Stores will allow companies to have complete control of their engagement with customers online. It also strengthens our value proposition for brands as they get access to tonnes of data about consumer behaviour, enabling them to create focused marketing campaigns. It’s a true win-win situation for sellers, brands and of course, shoppers.”
With 125 Mn wallets and 90 Mn transactions per month, Paytm looks forward to providing its customer base and data on consumer behaviour to the associating brands. Paytm also plans to enable the sellers at ‘Brand Stores’ to enhance their credibility and thereby see an increase in their sales. Paytm will also allow sellers, who are not a part of the Brand Store, to compete with their own seller store with an objective to make the online marketplace a reflection of how offline markets work.
Paytm’s Brand Store has come just after Flipkart announced its plans to create self-service analytics platform ‘Brand Hub’, wherein the companies can target specific customer pools based on their products. It made a move to woo electronic and apparel brands that would allow the brands to create exclusive stores on Flipkart. Flipkart launched the stores in April for the mobile app while the desktop launch is expected later.