The recently launched ecommerce platform, Paytm Mall, funded by Alibaba, claims to have bagged 20 % of the market share in this Diwali season, proving its mettle in the highly competitive Indian ecommerce sector.
The company has made an estimated business of $300 million in this recently concluded Diwali season that witnessed a huge sale in ecommerce sector of the country. Paytm Mall has been making impressive business post its entry to Indian market earlier this year.
The surge in Diwali sales will be a good sign for the company to grab a significant market share along with the key rivals, Flipkart and Amazon. Paytm Mall has been working on its Online-to-Offline strategy to attract customers. Now it plans to expand the business and remain in competition in off-seasons as well.
Generally, business dips post-Diwali, but we hope to have a steady business by targeting repeat purchases, said Amit Sinha, Chief Operating Officer, Paytm Mall. He also claimed that the number of new customers increased six times as most of them had already been associated with Paytm services.
However, Flipkart and Amazon dominated this year’s Diwali sales by amassing a total 80% market share together. According to analysts, they did a business worth $2.8 billion.