The online market place Paytm is launching its first big sale of the festive season, the 'Maha Bazaar', which starts on Wednesday and will run till Friday (12-14 oct).
The key selling point of the festival is the cashback offers totalling over Rs 100 crore by merchants on its platform.
The sale will focus on customers in smaller towns and cities and categories including kitchen, fashion and home furnishings. However, some of its best offers – that provide cashback to your wallets as discounts – are on Apple products and high-end televisions.
“We expect 10 million transactions in three days,…This year we have lined up total benefits of more than Rs 1,000 crore including cashbacks and discounts on three days of the Maha Bazar Sale.” Saurabh Vashishtha, the vicepresident for business and product management of Paytm’s ecommerce marketplace, said in a statement.
The e-tailer is also likely to spin off its marketplace business, setting the stage for Chinese e-retail giant Alibaba to make a direct entry into highly competetive Indian e-commerce market.
According to a report in The Economic Times, paperwork and board members are being finalised and the official launch is planned in November.
“The contours of the spinoff, paperwork and board members are being finalised and the official launch is planned in November,” ET quoted its sources as saying.
The Alibaba group has been present in India through Paytm and Snapdeal, and a direct entry for the Chinese ecommerce group is expected to heighten competition and result in a shakeout in the industry.
