The Indian e-payment application Paytm that acts as an ultimate saviour in times of limited or no physical cash, has now introduced a new feature for its users, adding to its previous long list of characteristics.
The Payment through Mobile platform which enables its registered users to recharge, pay&receive, book tickets and buy products and services on discount through the Paytm Mall, have now added one more feature that can vividly provide a customer “Offline as well as Online experience at the same time.”
This concept is launched in collaboration with REDTAPE, a multi store offering wide range of products like apparel’s, accessories, footwear etc. This concept lets a user visit the store physically, choose the product by confirming the size and cost, and then buy the same product at online available discounts by entering the Paytm mall, by scanning the QR code displayed at the Physical store. Which means providing users a omnichannel experience.
This is the new retail experiment launched by #Paytm. Is this the future of shopping? It’s something Paytm has learnt from its backer #Alibaba & what #Amazon is trying to pioneer in the US. Watch this story by Abhimanyu Sharma! @Paytm @PaytmMall @vijayshekhar @AlibabaGroup pic.twitter.com/PkFyzpucsf
— ET NOW (@ETNOWlive) February 15, 2018
After choosing the product online on the Paytm Mall by selecting the model number and size, the user avails the most suitable discount and pays the amount online, completes the transaction and eventually can pick up the product from the store at the same time.
To explain in simple words, such feature lets user have offline and online experience at the same time. Such concept will provide a more fruitful experience to online shoppers and Paytm users, as earlier when somebody used to order a product from an e-commerce platform, the chances of them being of expected quality and size had the probability of 50%, thus making online shopping a bit risky.
This new retail experiment is adopted by Paytm from its investor Alibaba and is also inspired by what Amazon is trying to initiate in the United States. Paytm may tie-up with more brands in the future to widen up the products range offered.
Speaking about the concept, Paytm Mall COO Amit Sinha said,
“We want to offer consumers a more efficient and flexible shopping experience by combining online with offline. This will also ensure that brand authorised retailers don’t have to block a lot of capital in inventory, while customers get much greater choice. This will prove beneficial for brands as the model combines offline stores, warehouse and fulfilment’s hubs into a single place, thereby enabling them to offer an enhanced experience to shoppers. We will expand our new retail model to over 300-400 partner stores across India… this model is expected to contribute over Rs 3,000 crore. “