To enable its offline retailer partners to set up online stores, Paytm Mall is going to invest Rs 32 crore, which will further help them to enhance their retail potential.
Amid all hypes of discount rage set by major ecommerce players like Amazon and Flipkart, this move by Paytm Mall to grow the share of online-to-offline (O2O) shopping can attract more masses than ever before.
The Alibaba-backed company allows shopkeepers to leverage the power of mobile and generate additional sales through the Paytm Mall platform to increase their business. It is going to set up a team of 500 personnel to address the needs of offline retailers and help their transition online through its retailer inclusion programme.
This team acts as a direct link between the company and its partner retailers, who meet them on a regular basis to receive their feedback, understand their challenges and offer necessary support for their growth.
The company will also partner with external financial organisations to enable working capital loans ranging from Rs 10,000 to Rs 25 lakh for these retailers.
They are also conducting ‘choupal’ and acting as an active partner in their development as the company onboards more retailers and expands its footprint to every nook and corner of the country.
“We aim to bring on-board around 50,000 shopkeepers in the first year of the programme, educate them on technology and provide various kinds of awareness programmes and learning facilities which will help them in their business,” said CEO of Paytm Mall, Amit Sinha, told ET.
He further added that “We will help shopkeepers with access to working capital, which is a tough ask for small retailers. The kind of support we provide will also evolve beyond technology and capital as we go along.”
Paytm Mall will continue equipping these shopkeepers with technology by digitizing their catalogues, opening their store on its mall and making their shops QR Code-enabled. It has also extended logistics support and GST training to equip these retailers for the current business landscape.