Mobile internet company, One97 Communication Ltd. which runs digital goods marketplace Paytm has revealed its plans regarding launching a online retail marketplace with mobile only approach. The platform is expected to go live by month end and will allow users to purchase products with existing Paytm app.
Interestingly, instead of being an individual app, this marketplace will just be another category of Paytm and products will be available to purchase just like recharge vouchers and deals.
[Edited Excerpts]
Inc42: What is the main idea behind venturing into online retail?
India is mobile first country. The dominating commerce platform will be mobile commerce. We are taking the position to take on the large m-commerce opportunity.
People have become very comfortable ordering and shopping online and it is a large scale market.
Inc42: Will it be a pure-play or a marketplace ecommerce play?
It is a mobile marketplace platform. We have absolutely no interest in keeping any inventories. I think the large SME population of India can offer great experience and on Paytm platform.
Paytm stands of trust and our very high NPS score of Paytm will be a trust between merchant and consumer.
Inc42: Can you mention some retailers whose inventory will be available on the platform?
These include Zovi, yepme, yebhi etc. among others.
Inc42: What all categories you are planning to offer?
One thing at a time, we plan to start with key categories for everyday shopping. We will offer men, women and kids catalogues.
Inc42: How is Paytm app doing in terms of users and revenues?
According to our estimate, there are more then 60 million smartphone users in India out of which Paytm has over 4.5 million monthly user and we plans to cross commerce of Rs 2000 cr. in year 2014.
Inc42: How do you plan to compete with the existing players?
Exiting players have created baby internet sites in name of mobile strategy. They are built for internet and will try accommodating mobile in the plan. We are mobile first and mobile only platform.
Our overall experience for consumers and merchants will be very different. We plan to launch some industry first features too.
Inc42: Why are you opting for a “Mobile only approach”?
Mobile will eat (desktop) online internet. Smartphones will overtake desktop user base in few years time. We will make sure consumer has great trust and experience of Paytm.
It also allows us to make it better than everyone else !
[Image Via Techi.com]
