Paytm Mall launches OMG end-of-season sale
today Jan 10, 2019
Paytm Mall launched its OMG Reloaded sale on January 9 and it will run over the weekend until January 13. The business has partnered with ICICI Bank to offer cash back offers and is offering up to 70 percent off products including many fashion items.
Paytm Mall, the e-commerce platform of the online payments business Paytm, is a major domestic player in the e-commerce market, especially in the fashion and electronics sectors, and has been ranked third after Flipkart and Amazon India. Following the trend of hosting almost back-to-back sale events seen with US-owned online businesses, Paytm too is upping its amount and frequency of sales.
During Paytm Mall’s Diwali festive sale, it reported the largest demographic of customers hailing from Delhi NCR but customers from Pune and Bengaluru bought the largest amount of items per person. The brand is again betting big on metros for its current sale.
Paytm the payments arm also used cash back offers recently to draw in customers with its “Paytm Cashback Days” promotion that lasted five days and concluded on December 16, 2018. Paytm Mall also offered a “Maha Cashback” promotion last winter. By offering a large number of discounts and cash back promotions, the brand has seen its revenue increase to Rs 3,314 crore in the 2018 financial year compared to Rs 780 crore the year before, according to filings at the Registrar of Companies.
However, One97 Communications Ltd., the parent company of Paytm and Paytm Mall, reported a 69 percent increase in losses to total Rs 1,490 ($203.8 million) during the 2018 financial year (compared to Rs 879 in the 2017 financial year). The business may question that, with its strategy of sales, discounts, and cash back options, are widening losses worth the increase in revenue long term.
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