The Paytm Diwali sale, which was held between 3rd November and 5th November, generated revenues of Rs 300 Crores across all categories. The Alibaba-backed venture recorded highest sales in mobile phones and apparels category as expected, however motorcycles and bicycles saw relatively higher figures as well. With over 500 motorcycles and 1000 bicycles sold online, there were offline counterparts to deliver the orders to the customers.
Mobile phone sales increased 5-6 times over average daily order rates, while sales of fashion products also rose six times. The electronics category, as expected, registered most sales, helping the ecommerce site post fivefold increase in the number of orders and gross merchandise value (GMV) during the sale, compared with daily averages, Saurabh Vashishtha, vice-president for business at Paytm. GMV is a measure of the maximum price of goods and services sold on a company’s platform and is higher than its actual revenue.
While meeting its target of Rs 250-300 crore for the sale duration, peak traffic, including shopping and transactions, surged to 6-8 lakh concurrent users, which was 10-15 times the average peak traffic on the site. The company said it was on track to cross the Rs 1,000-crore target set for the twomonth period ending December. In terms of traffic seen on the website, at one point of time there were 6-8 lakh concurrent customers logged in, which is about 10 to 15 times the daily average.
The online-to-offline model, while taking wing in the new product category, was also implemented in the mobile phone category, where a fifth of sales between November 3 and 5, were delivered by local stores within two hours. Paytm tied up with The Mobile Store, the country’s largest phone retail chain, to meet delivery timeframes. Paytm did not share the number of mobile phones sold but said the category made up 10 per cent of total sales during the three-day period.