Paytm, India's largest 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.
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 behavior that Paytm provides will also be of immense value to the associating brands. Paytm will also help brands create online campaigns to divert traffic to their stores.
"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 tones of data about consumer behavior, enabling them to create focused marketing campaigns. It's a true win-win situation for sellers, brands and of course, shoppers," said Vice President Paytm, Amit Bagaria.
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.
