Alibaba-backed Paytm Mall said it expects to clock a gross merchandise value (GMV) run rate of US $4 billion by the end of March next year on the back of strong growth in transactions on its platform.
According to a PTI report: Paytm Mall, which was spun off as a separate app in April this year, expects the growth to be driven by strong demand in categories like electronics, appliances, FMCG and fashion.
Revenue run rate is a term used in online retailing to indicate total sales value of merchandise sold through the marketplace over a certain period of time.
Paytm Mall owned by Paytm E-commerce has refreshed its new app featuring 1,000 brand stores and 15,000 brand- authorised retailers selling over 65 million products, it said in a statement.
These include brands like Apple, Samsung, HP, Lenovo, JBL, Philips, Puma, Allen Solly, Lee, Pepe, Levi s, Fossil and Vero Moda, among others.
“There are two broad business models for e-commerce is one to become the technology partner of every retailer and second is to be a large retailer yourself.
“Our approach supports the first business model. We believe working with a million retailers is a much bigger purpose than creating one single, large online retailer,” COO, Paytm Mall, Amit Sinha was quoted by PTI as saying.
He added that Paytm Mall should be able to clock a GMV run-rate of US $4 billion by the end of the fiscal.