Alibaba-backed Paytm Mall today said it expects to clock a gross merchandise value (GMV) run rate of USD 4 billion by the end of March next year on the back of strong growth in transactions on its platform.
Paytm Mall, which was spun off as a separate app in April this year, expects the growth to be driven by strong demand in categories like electronics, appliances, FMCG and fashion.
Revenue run rate is a term used in online retailing to indicate total sales value of merchandise sold through the marketplace over a certain period of time.
Paytm Mall -- owned by Paytm Ecommerce -- has refreshed its new app featuring 1,000 brand stores and 15,000 brand- authorised retailers selling over 65 million products, it said in a statement.
These include brands like Apple, Samsung, HP, Lenovo, JBL, Philips, Puma, Allen Solly, Lee, Pepe, Levi's, Fossil and Vero Moda, among others.
"There are two broad business models for e-commerce -- one is to become the technology partner of every retailer and second is to be a large retailer yourself.
"Our approach supports the first business model. We believe working with a million retailers is a much bigger purpose than creating one single, large online retailer," Paytm Mall COO Amit Sinha said.
He added that Paytm Mall should be able to clock a GMV run-rate of USD 4 billion by the end of the fiscal.
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