“We are targeting one million order quantity by 2015”- Vijay Shekhar Sharma, Founder & CEO, PayTm
What are the consumer segments that Paytm Shopping app is focusing and what’s your target?
We are targeting mobile first user who are mobile savvy users. Consumers are happy that they can do M-commerce on mobile. We are targeting one million order quantity by 2015.
When are you planning to have Paytm Shopping app on Nokia App store?
Presently, Paytm Shopping app is available on Apple iTunes App store and would be available on Google Play store in the coming week. We are planning to have Paytm Shopping app on Nokia App store by February end.
What is Paytm’s role in mobile shopping? How are you planning to increase merchants for Paytm shopping app?
Paytm focuses on order flow, payment and customer care whereas merchant takes care of item and pricing. For merchants, mobile is a puzzle and they are looking at somebody who can solve their problem. Initially, we have focused on fashion as it is hot and it also has higher margins. Presently, we have more than 100,000 items from 250 merchants in men, women, kids fashion and home furnishing categories. By the end of the month, Paytm is planning for a million products.
We are focusing on trusted merchant who has done online order acceptance and not offline in the first phase and plans to add mobile to their portfolio. We are focusing on retailers in a big way and has signed up with Croma, Spice, Lotto, YepMe, Zovi, FirstCry and others.
How big is M-commerce market in India?
Overall E-commerce market in India is $12 billion of which $8 billion is travel and non travel is $4 billion. Of the non-travel part, M-commerce contributes around 1/5th.
Can you tell something about your manpower and investment plan for Paytm?
We have around 200 people and plan to invest Rs 150 crore through internal accruals for Paytm. This investment will help us till end of 2014.
About competition and what’s your future plan?
We plan to dominate mobile commerce and plan to add more categories to the play. Presently, everybody is a baby as they have an Internet mobile site. For us everybody who is online and offline will be a competitor.
Internationally, mobile shopping sites do not have bargain facility. For e.g. Alibaba and Taobao in China have merchant platform where consumers can chat but bargain facility doesn’t exist.
