Few months back, Paytm launched bargain feature in its app – a feature that allows you to bargain on price from sellers.
Paytm also is trying to get its users to transact more on the app. And while the world is talking about unbundling of apps, Paytm is actually putting all eggs in one app basket.
- Paytm mobile marketplace
brings over 250 merchants with over 1,00,000 items for users on one mobile platform
- The Paytm app is currently available across Android and iOS app stores. Over 6 million people have already installed the mobile app.
Here is an interview with Deepak Abott, AVP at Paytm on the traction of bargain feature and the plan going forward.
1. What has been the traction of Paytm negotiation features? number of transactions? how many merchants are part of it?
Almost 30% of our users use bargain feature. There is over 50% conversion on all queries landing at Bargain window. We have 20% of merchants directly picking up queries. We are working hard to bring over 80% in next couple of months
2. Apps are now talking about Unbundling. Do you think Paytm should have launched ecommerce platform as a separate app/entity/brand?
Unbundling would work when TG may have unique requirements or app size is heavy. Eg. a music app may unbundle based on language as that would cover different TG. However for Paytm, we believe that same TG which is recharging online is actively shopping online. We have one of the lightest commerce app which is less than 3MB which is pretty good. Plus Paytm Wallet allows seamless transactions between various categories and same app allows users to quickly do multiple transactions at one go.
3. Future plans?
Future plan is to continue to add more merchants, more products and widen our distribution reach. We are aiming at 10mn products soon on our marketplace. We are targeting 10 mn App base in next 3-4 months.