Mobile wallet and e-commerce company Paytm has reported a 6X growth in the pre-Diwali sales that ended earlier this month. Consumers from tier-2 and tier-3 towns have contributed to over 70% of the total traffic during the sale, the company said.
The unprecedented traction was testimony to the Alibaba-backed company’s focus on unstructured categories such as fashion, home & kitchen, gifts & sweets and mobile accessories. In addition Paytm also sold over 500 motorcycles and around 1,000 bicycles which were delivered to customers from physical dealerships, the company said in a statement. Paytm had entered into an exclusive tie-up with Mahindra two-wheelers to sell Mahindra Centuro motorcycles and Mahindra Gusto scooters through its site.
Saurabh Vashishta, vice president (business) at Paytm said, “Unstructured categories have always been our focus and our intent is to ensure that consumers see the widest assortment possible in these categories. We saw tremendous interest from consumers leading to over 6-10X growth in transactions for these categories. In addition, 20% of all orders were delivered within 2 hours.”
Paytm, Consumer brand of India’s leading mobile internet company One97 Communications, does more than 100 million transactions of various digital and physical goods every month. Launched in 2014, Paytm is backed by Ant Financials (AliPay), SAIF Partners, Sapphire Venture and Silicon Valley Bank.