[dropcap]P[/dropcap]aytm revealed it has tied up with more than 1,000 brands enabling them to open their online stores on its ecommerce platform. The brands include Puma, Samsung, Samsonite, Casio and Lakme.
The announcement comes a week after top ecommerce player Flipkart had revealed its plans to woo some of the most-popular electronic and apparel brands including HP, Wildcraft, Peter England, Bosch and @Home, with a new offering that allows them to create ‘stores’ on its digital marketplace.
Amit Bagaria, vice-president at Paytm, “True power of online platforms is in connecting sellers and brands directly with the end customers. The platform that we have created for brands gives them complete control of their online presence.”
There are many advantages in having online stores stressed Paytm. It described how the online brand stores are independent online retail stores wherein brands can control the sellers who are selling in their store, inventory, pricing and promotions. They will also be able to promote campaigns and tag their physical stores, enabling them to generate sales for their offline channel through this online store.
“From a customer perspective, the shopping experience on these stores is far superior, since the brands directly engage with customers, just like in offline stores,” Bagaria aded.
Going a step further, Paytm will also let sellers who are not authorised by the brand to still be able to compete through their own seller store outside the brand store. “This is a true reflection of what happens in the offline market as well,” said Bagaria
Harminder Sahni, founder and managing director at retail consulting firm Wazir Advisors, said: “Marketplaces are like stores. Brands are realising there is no reason to have another retailer in between for their online presence.
The real benefit is when there is no middleman. “Even from the regulatory point of view, with marketplaces not allowed to control prices, this move falls in line,” Sahni said.