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Paytm ties up with brands to open online stores

Update On :09 May 2016

Paytm ties up with brands to open online stores

To enable the brands to open their online store in its ecommerce platform, the Indian ecommerce shopping website Paytm has signed up with more than 1,000 brands including Puma, Samsung, Samsonite, Casio and Lakme. The platform that we have created for brands gives them complete control of their online presence. The brands can choose a handful of authorized sellers to host their inventory on the brand store. It will also be able to customize the brand page, put up promotions and showcase products.

Amit Bagaria, vice-president at Paytm said that true power of online platforms is in connecting sellers and brands directly with the end customers. According to Paytm, 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 run promotional campaigns and tag their physical stores, enabling them to generate sales for their offline channel through this online store.

Bagaria said that 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. Harminder Sahni, founder and managing director at retail consulting firm Wazir Advisors, said that marketplaces are like stores. Brands are realizing there is no reason to have another retailer in between for their online presence.

Sahni added that the real benefit is when there is no one in between. Even from the regulatory point of view, with marketplaces not allowed to control prices, this move falls in line. Unlike its competitors, Paytm will also let sellers who are not authorized by the brand to still be able to compete through their own seller store outside the brand store. Bagaria said that this is a true reflection of what happens in the offline market as well.

News Source From : http://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/paytm-signs-up-1000-brands-including-puma-samsung-to-open-online-stores/52181895

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