Users can now shop for Big Bazar merchandise on Paytm marketplace and get delivery at their homes, thanks to the new tie-up that happened between retail company Future group and the mobile payments platform.
The users will also be able to avail promotional offers when using Paytm wallet like customers of Big Bazaar and EasyDay can get up to 15 percent cash back on all purchases, both online and offline.
Kishore Biyani, the Group CEO of Future Group, said, “On an end-to-end basis, between Future Group and Patym, we will have the lowest unit cost economics in the industry and this will be our key differentiator to create sustainable customer value.”
This partnership comes at a time when Big Bazaar is targeting sales of around a Rs 1,000 crores during the Maha Bachat sale between August 13-17 this month.
“The cost of acquiring a customer (in e-commerce) is more than 20 percent, the cost of fulfilment is more than 20 percent, the cost of running the operation is 8-10 percent totalling almost 50 percent as the cost of operation. At this cost, you can’t sell any goods in this medium,” Biyani added.
According to Biyani, the strengths of both the companies in large-scale customer acquisition and seamless payments through digital wallets will be key ingredients in driving this partnership.
Future Group operates a range of retail stores such as Big Bazaar, fbb, Foodhall, Central, Brand Factory, Ezone and EasyDay. The group operates through its three listed entities –Future Retail Limited, Future Lifestyle Fashions Limited and Future Consumer Enterprises Limited.
Vijay Shekhar Sharma, founder and CEO of Paytm, said, “Together, we see a fantastic opportunity to create an integrated mobile first, omnichannel retail and payment solution for our wide consumer base.”
Earlier in April this year, Future Group acquired online furniture store FabFurnish.com—its first acquisition of an Internet store .
On the other hand, Paytm announced its partnership with Gurgaon-based PVR Cinemas, to bring PVR’s movie tickets to Paytm’s e-commerce platform.