Growing 70% month on month in transactions; Fastest to achieve $1.5bn GMV run rate in 15months
Paytm, leading mobile commerce platform has been scaling its business rapidly. It has clocked a whopping $1.5bn GMV run rate by targeting its 80mn wallet users and expansive active merchant base. Its innovative mechanism of providing merchants and brands an online platform to showcase their products, has helped it tremendously in achieving the phenomenal sales graph. In the last month itself, 10,000 merchants received orders through Paytm. There are 10 million products on Paytm’s online marketplace currently and the figure is increasing by 2-3 million products every month.
Shankar Nath, Senior Vice President, Paytm said, “We are very proud that we have been able to become the mobile commerce platform of choice for Indian SME’s and consumers. This incredible off take in such a short time is because of our focus on merchant capabilities and systems instead of working with only a few large merchants”
“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.”
In a scenario where India is on its way to become the world’s fastest growing online commerce market, Paytm is touted to be the fastest growing company that has achieved such a remarkable GMV run rate. The company 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.
Also the mobile commerce firm is continuously roping in more and more merchants on its online portal and is providing them full support through its logistics cloud. Nath said “With the logistics cloud we have been able to connect merchants to a network of courier partners and enablers thereby allowing them to reach to 39,000 pin codes in the country. We also enable merchants to participate in promotions and offer a complete DIY solution. Besides these, we also train the merchants efficiently and offers them the facility of mobile messenger so that they can communicate with their customers if need be.”
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