New Delhi, February 14, 2018: Paytm Mall, owned by Paytm Ecommerce has tied up with Rad Tape to unveil a new retail model wherein the customers can walk into brick & mortar stores, scan product QR codes, browse information and make purchases on the Paytm Mall app, the company said in a statement.
The e-commerce company is set to expand its reach to over 50 Red Tape stores by year-end, with an expected business of over Rs 500 crore.
According to Paytm, the company will continue partnering with retail brands to bring technology and convenience to brick & mortar stores across India.
“We are excited to announce the launch of a new model of retail which combines the best of online and offline experiences seamlessly. We want to provide a best in class in-store experience wherein users can browse the entire catalog available from a brand and be able to pick up products from the shop or get them delivered to their doorstep on the same day,” said Amit Sinha, COO of Paytm Mall.
“We will also offer this technology to traditional retailers to help them transform into the digital age. We are confident this will prove beneficial for brands as it combines offline stores, warehouse, and fulfillment hubs into a single place thereby enabling them to offer an enhanced experience to shoppers,” he said further.
According to Paytm, the company aims to maximize partnered brands’ reach and increase the overall efficiency of the retail ecosystem by combining three places: stores, warehouse and fulfillment hub into one place. This will ensure brand authorized retailers don’t have to block a lot of capital in inventory while offering customers much greater choice, Paytm said.
“Through this initiative, we bring physical shopping experience of our online range combined with online discounts, prices, and Paytm Mall offers. We are confident this will help us reach a wider consumer base, and simplify the lives of our customers,” said Shuja Mirza, President of Red Tape.