• About
  • Contact
Wednesday, January 27, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home Internet

PayTM Mall Rumored to Close Down Its e-commerce Business

Sourav by Sourav
July 4, 2019
in Internet
2 min read
0
paytm mall logo
Share on FacebookShare on Twitter

Paytm Mall, Paytm’s e-commerce business backed by Alibaba Group, has been making huge changes in its operations as it has been losing steam faster than most experts predicted. It has already begun shutting down fulfillment centers and is no longer giving consumers any cash backs. It has even been scaling down its B2C offerings in an effort to save money. While Paytm Mall used to receive traffics along the likes of 45 million hits in October, their popularity dropped by 88%, with the brand receiving only 5 million users in traffic in January of this year.

The brand held several board meetings in October during which it was decided that they need to scale down the B2C business and switch to B2B with an online to offline model. In order to do so, the brand acquired Nearby and Little.

paytm mall
Image courtesy: Pinterest.com

Unfortunately, this move has hit vendors quite hard. With the sudden scaling down of Paytm Mall, most vendors stuck with endless inventory. According to an FMCG seller from Mumbai, the brand has been entirely unfair to the vendors. He said “They (Paytm) asked us to stock a month’s inventory for December last year and now asking us to take back the inventory. They have shut the fulfillment centers at several places. We can’t return these unsold inventories back to the manufacturers now.”

Another seller elaborated on the same problem by saying “Paytm stopped giving cash back and this has resulted in heavy losses for us as consumers have stopped buying. I was doing business worth ₹10 crore a month, but now it has come down to ₹10 lakh. They stopped cash backs without even informing us,”

A Delhi based vendor also commented on the same issue by saying “This is the last of the leftover stocks parked at the fulfillment centers and no seller has sent any inventory in the last two months. The unsold inventory now becomes our responsibility.”

While all of this is going on, Vijay Shekar Sharma, the founder of Paytm, is adamantly denying these allegations of Paytm mall shutting down. He said “I have mentioned earlier also that we (Paytm Mall) will have a majority business by O2O category. Grocery from our store is becoming bigger and bigger,”

There is intense competition in the e-commerce space and Paytm is a new player when compared to Flipkart and Amazon. This is probably why this brand is not seeing the success that it had hoped to see.

Source – thehindubusinessline

Tags: Paytm Mall
Previous Post

PE Baring Plans to Buy NIIT Tech for 1.2 Billion USD

Next Post

Case Study - The Rise and Rise of Miraj Group

Sourav

Sourav

Excellent story-teller, with a background in SEO and Digital Marketing. Likes to write and give form to opinion and incidents.

Related Posts

Amazon Food Delivery- Next big Brand
Internet

Amazon Launches Food Delivery Service In India, More Competition For Swiggy & Zomato

May 21, 2020
Facebook Shops- Next Big Brand
Internet

Facebook Introduces Facebook Shops For Small Businesses Amid Pandemic

May 20, 2020
Ashok Cherian TikTok- Next Big Brand
Internet

TikTok Has Appointed Ashok Cherian As Marketing Head Of India

May 13, 2020
TikTok Ban Highest Grossing App Security Flaws Popularity- next big Brand
Internet

TikTok Is Highest Grossing Non-Gaming App In April 2020, Followed By YouTube

May 12, 2020
Zoom India User Base Revenue dowloaded app Video Calls Users- Next Big Brand
Internet

Zoom Replaces TikTok To Become Most Downloaded Non-Gaming App

May 8, 2020
India Internet Users- next Big Brand
Internet

India Has More Than 500 Million Active Internet Users: IAMAI

May 6, 2020
Next Post
miraj Group

Case Study - The Rise and Rise of Miraj Group

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

billionaires losing billions - next big brand

Billionaires Losing Billions – People Their Money and Market and COVID-19

11 months ago
indiamart-logo-ipo-next big brand

IndiaMart raises Rs. 213 crore, IPO to open on June 24

2 years ago
MakeMyTrip Group CEO- Next Big Brand

Deep Kalra Steps Down As MakeMyTrip Group CEO, Magow To Take Over

12 months ago
Triller App

Triller App Backed By Eminem Plans To Leverage TikTok Ban In India

6 months ago

FOLLOW US

  • 22.6k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Twitter Acquires Dutch Based Newsletter Startup Revue
  • Padma Shri for Zoho Founder Sridhar Vembu and Business Tycoon Mrs. Rajni Bector
  • Clubhouse: Audio Based Social Media App Everyone’s Talking About

Instagram

Follow Me!

Latest News

Twitter Acquires Dutch Based Newsletter Startup Revue

Twitter Acquires Dutch Based Newsletter Startup Revue

January 27, 2021
Padma Shri for Zoho Founder Sridhar Vembu and Business Tycoon Mrs. Rajni Bector

Padma Shri for Zoho Founder Sridhar Vembu and Business Tycoon Mrs. Rajni Bector

January 26, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.