Paytm has launched Paytm Mall to allow local shopkeepers to bring their catalogue online, enabling consumer discovery of their products.
Local stores will have their own Paytm Mall QR code, allowing consumers to scan the code to browse products in the store and place an order. Paytm hopes to add to the revenue streams of local stores as customers will be able to buy their products on the Paytm Mall platform.
Paytm Mall’s O2O (Offline-to-Online) platform will contribute towards the growth for every stakeholder in the retail ecosystem including shopkeepers and brands. It will boost the business of local shops by bringing new customers who will be able to discover them on Paytm Mall and conveniently place an order.
Retailers also get access to valuable customer analytics for better targeting of existing users. Additionally, the customers who walk into the shops to scan the Paytm Mall QR code will be able to follow the store, place orders and get exciting offers.
This model has also been received extremely well by brands who struggle with the problem of trying to balance their offline and online channels. Brands will be able to increase sales of their offline distribution while also making sure that their products are available to consumers online.
Consumers get the benefit of buying products from their local trusted retailers while also getting access to same day or next day delivery. They will soon have the option to get products delivered from the store as well as pick them from the store directly.
Paytm Mall will widen the reach of its QR code across the local shops in the coming months offering a wide assortment of products to its customers. This will empower local shops to expand their business to the online and also cater to their existing regular customers.