Paytm, the largest mobile commerce and payment platform has set up a niche category called Bazaar, which is establishing a strong presence in the unstructured goods market with over 100,000 items sold per day.
The category created to cater to the unstructured goods market is lead by seller's selling fashion, home decor, toys and electronic accessories products. Over 1,500 sellers avail the benefits of selling their products on the Bazaar every month.
The Bazaar comprises of products sold offline with a high demand reflected in the Tier II and Tier III markets with over 50% orders coming from the regions.
Giving a boost to make sellers digitally empowered, Paytm Bazaar has over 90% Indian SMEs. The items sold at the Bazaar range from Rs 15 to Rs 800. There is no discounting done by the company, however, sellers themselves submit the offers.
Fashion segment constitutes over 50% of the sales made at Paytm Bazaar. The Bazaar receives 60% repeat customers and observes three times the user metrics in terms of engagement and traffic.
"Shopping in India is a lot more than brands which constitute a small share of overall products sold. Our objective as a true commerce platform is to connect all types of segments of buyers and sellers, and unstructured goods play a very important role in that. This is also validated with the stupendous growth witnessed by Bazaar, which is to the tune of 50% quarter on quarter. We will continue to enable more and more sellers and help them grow via Bazaar. We expect bazaar to grow three to four times by the next year," said Vice President Paytm, Sudhanshu Gupta.
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