Indian startup ecosystem is getting interesting day by day. The entry of foreign players into the market has ignited w=even the local ones to use aggressive marketing moves. Recently we reported about the Paytm-Buffett led Hathaway deal and why investors are showing interest in Indian market.
Adding to his, Paytm Mall is now planning to host retailer BigBasket’s products on its platform in order to compete with e-commerce giants Flipkart and Amazon. The fact which makes this scenario more interesting is the timing, Paytm recently partnered with Future Retail which owns hypermarket stores like Big Bazaar.
Also Read: How Alibaba Is Trying To Beat Amazon & Walmart In Indian E-Commerce Market
Paytm Mall’s chief operating officer (COO)Amit Sinha revealed about the plans about BigBasket and said: “We are in the process of integrating BigBasket on our app. When we talk about partnerships there will be brand partnerships, there will be retail partnerships—and not only with pan-India retail chains like Big Bazaar, but also with regional, local city-based brands,”
Paytm Mall is even looking to buy some stake another retailer, he added but declined to share the name of the brand. Paytm Mall wants to capture maximum customers in India’s e-commerce sector, which is expected to reach grow to $200 billion in a decade. Alibaba, Tencent Holdings Ltd, Tiger Global Management LLC and SoftBank Group is helping the company to do so.
“At least there are three players who are definitely, very clearly there (in the long run)—Amazon, Flipkart and us. Alibaba is unlikely to use Paytm Mall to enter India by themselves and run the company, Sinha said. “The approach from their side has always been that you know the business, you run it. We come in as strategic investors.” Sinha added.
Also Read: What Walmart-Flipkart Deal Reveals About The Indian Startup Ecosystem
Indian e-commerce is finally finding its ways to attract investors but customers are only favoring them for the offers and discounts they give. It will be interesting to see how these startups turn their business models profitable in India.
