Paytm Mall set to invest Rs 50 crore in FMCG category
The company competes with players such as BigBasket, Amazon Now and Grofers who have captured the nascent online grocery delivery market in India.
October 11, 2017 / 05:54 PM IST
Noida-based Paytm Mall, a company owned by Paytm Ecommerce Pvt Ltd is set to invest 50 crores on seller training, marketing and optimizing logistics network of its FMCG category.
The company competes with players such as BigBasket, Amazon Now and Grofers who have captured the nascent online grocery shopping market in India.
The investment will enable an increasing number of customers across every city and town to order their daily needs frequently on the platform regularly, the company said.
The company is targeting 6X growth in FMCG sales by the end of the financial year.
The platform will offers a wide range of products including food and groceries, home care essentials, beauty products among others.
“Our country’s FMCG market is the third largest globally and offers a unique opportunity with less than 1 percent of all sales happening online. We want to be the platform our consumers use to shop products of daily needs,” said Amit Sinha, Chief Operating Officer of Paytm Mall.
Over 60 percent of all Paytm Mall customers have shopped for FMCG products on the platform, the company said.
Paytm Mall is working directly with all the leaders in FMCG space including Hindustan Unilever, Nestle, P&G, Reckitt Benckiser, ITC, Mondelez to offer their brands on its platform.