India’s largest mobile-first financial services platform Paytm has registered 3x growth in payment transactions across offline merchant partner stores during the second edition of its ‘12.12 Festival’. This contributed to over 1.5x increase in a single-day revenue growth for some of the large retail brands which includes Big Bazaar, Pantaloons, Central, Woodland, and Reliance Digital.
Local merchants such as neighbourhood stores across Tier-II and III cities have also witnessed an impressive growth as compared to regular days, establishing Paytm’s strong foothold among both merchants and customers in the country. Delhi, Pune, Ahmedabad, Bangalore, Hyderabad, Jaipur, Indore, Lucknow, Chandigarh, Coimbatore, and Kolkata were some cities where tremendous response for Paytm ’12.12 Festival’ was seen.
To create awareness about this festival among customers, Paytm and large retail brands did joint marketing and promotional activities through in-store brand advertisements and other BTL activites. The company also worked closely with local merchant partners to help them attract new customers and grow their businesses. Both organized and unorganized retailers across categories such as groceries, petrol, FMCG, jewellery, apparels, pharmacy, milk-booths etc. participated in this Festival.
Kiran Vasireddy, COO – Paytm said, “Paytm has become a preferred choice for in-store mobile payments in the country. The ‘12.12 Festival’ successfully drove high footfalls and transactions for our millions of offline retail partners through mobile payments. The excitement around this event from both consumers and merchants are overwhelming, and we will continue to strengthen our relationship with the country’s retailer community with many such initiatives.”