After registering a record $3.5 billion in annualised gross sales in June 2018, Paytm Mall has set its eye on achieving $10 billion annualised gross sales by March 2019, as it looks to grab a bigger piece of the giant e-commerce pie.
Within a year of its launch, Paytm Mall has shown a remarkable growth to become a strong contender in the local e-commerce market, behind the market leaders Flipkart and Amazon. With 625,000 orders per day, Paytm Mall is looking to bump its unit orders to 1-1.5 million per day by March 2019.
As Indian e-commerce market is expected to reach $200 billion by 2026, from $38.5 billion in 2017, no one wants to be left behind in the race to reach a larger customer base. With Indian internet users expected to grow from 446 million in 2017 to 829 million by 2021, there is a huge untapped potential for the online e-commerce players to grab the new users looking to shop online.
Paytm Mall is looking to expand its fashion and home business this year. Its largest categories by value include appliances, laptops, mobiles, along with the daily needs category generating the maximum number of orders.
It is also targetting the 15 million offline retail shops in the country by promoting its offline-to-online (O2O) model, as it enables these retail shops with online opportunities. This will not only create more opportunities for offline retailers but also help Paytm to enhance its user experience by providing offline stores along with the online platform.
Amit Sinha, COO, Paytm Mall, said, “We are excited to witness the growth of the Indian retail market and we have ramped up our efforts to expand our business to meet its ever-growing demands.”
He further added, “Our partnership with brands/merchants and their offline retail stores is driving an important opportunity for them to increase their business while building engagement with their customers.
As only 7% of the total retail business in India is organized, there is a huge opportunity to expand the business. Every major e-commerce player will be looking to leverage this opportunity as the competition for market leader heats up.