Paytm joins discount wars with Flipkart, Snapdeal, Amazon

 

HIGHLIGHTS

• Paytm is set to join the e-commerce bandwagon with a three-day festive season sale from November 3
• It will offer discounts of up to 80% and double the cashbacks during the sale
• Mobile phones and apparel are likely to be the top-selling categories by sales, followed by large appliances and home decor Payments and e-commerce services provider Paytm is set to join the Flipkart, Snapdeal and Amazon bandwagon with a three-day festive season sale from November 3.

The Alibaba-backed company will offer discounts of up to 80% and double the cashbacks on all products on its marketplace during the sale, which is expected to generate a substantial part of the Rs 1,000 crore targeted for the entire festive season.

The Noida-based e-tailer will spend Rs 100 crore on marketing during the festive season, which goes on till December and will focus on consumers in tier-2 and tier-3 cities. Paytm has tied up with more than 30 large, small and local delivery companies including Delhivery and BlueDart.

"We're expecting sales of Rs 1,000 crore from the entire festive season," said Saurabh Vashishtha, vice president for business at Paytm. "A significant portion, around 25-30%, of sales from the festive season should come from the three days."