In a move to offer customers a superior shopping experience and curb online frauds, Paytm, Indian mobile payment and commerce platform has announced the launch of ‘Brand Stores’ on its marketplace, featuring over 1000 top brands. It has tied up with the likes of Puma, Samsung, Casio and Samsonite to open their stores on Paytm, giving them complete control of their online presence. Brands can choose the online retailers selling their products, ensuring authenticity for buyers.
Paytm will provide all necessary support to brands to manage their stores, from data analytics to catalogue management, payment tools and logistics. Brands will have the flexibility to decide the complete look and feel of their Store, run promotions and design their own campaigns. They would also be able to tag their physical stores and generate sales for their offline channels through the online store. With 125 million wallets and 90 million transactions a month, the marketing reach and rich data on consumer behaviour that Paytm provides will also be of immense value to the associating brands. The company will also help brands create online campaigns to divert traffic to their stores.
Amit Bagaria, Vice President, Paytm said, "We believe that the true power of online platforms is in connecting sellers and brands directly with 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 focussed marketing campaigns. It’s a true win-win situation for sellers, brands and of course, shoppers.”
The Brand Stores will also act as a shot in the arm for smaller sellers listed on Paytm. By selling via authorized Brand Stores, they will be able 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 through their own seller store. The objective is to make the online marketplace a reflection of how offline markets work.
