Paytm Mall, owned by Paytm Ecommerce Pvt Ltd has introduced a new model of retail wherein customers can walk into brick and mortar stores, scan product QR codes, browse information and make purchases on the Paytm Mall app. This is a manifestation of the company’s ambitions to combine online with offline, offering consumers a more efficient and flexible shopping experience.
The company aims to maximize partnered brands’ reach and increase the overall efficiency of the retail ecosystem by combining three places: stores, warehouse and fulfillment hub into one place. This will ensure brand authorized retailers don’t have to block a lot of capital in inventory while offering customers much greater choice. Paytm Mall has launched this model in partnership with Red Tape and is set to expand its reach to over 50 Red Tape stores by year-end, with an expected business of over 500 Cr. The company will continue partnering with retail brands to bring technology and convenience to brick & mortar stores across India.
Amit Sinha, COO – Paytm Mall said, “We are excited to announce the launch of a new model of retail which combines the best of online and offline experiences seamlessly. We want to provide a best in class in-store experience wherein users can browse the entire catalog available from a brand and be able to pick up products from the shop or get them delivered to their doorstep on the same day. We will also offer this technology to traditional retailers to help them transform into the digital age. We are confident this will prove beneficial for brands as it combines offline stores, warehouse and fulfillment hubs into a single place thereby enabling them to offer an enhanced experience to shoppers.”
Shuja Mirza, President- Red Tape said, “We are excited to launch Red Tape Online Outlet stores & partner with Paytm Mall which brings in meaningful innovations that help us offer a first-of-its-kind consumer experience. This partnership will boost our reach and help create greater synchronization between our online store on Paytm Mall and our retail outlet. Through this Initiative, we bring physical shopping experience of our online range combined with Online Discounts/ Prices and Paytm Mall Offers. We are confident this will help us reach a wider consumer base, and simplify the lives of our customers.”