The users can get products delivered to their homes and will be able to avail promotional offers by Paytm while using their Paytm Wallet to make purchases at Future Group outlets such as Big Bazaar and EasyDay.
Further, customers of Big Bazaar can get a 15 per cent cashback on all purchases, both online and offline, using Paytm’s wallet facility.
Kishore Biyani, Group CEO, Future Group said,
“On an end-to end basis, between Future Group and Paytm, we will have the lowest unit cost economics in the Industry and this will be our key differentiator to create sustainable customer value. The strengths of both the companies in large scale customer acquisition and seamless payments through Digital Wallets will be key ingredients in driving this partnership.In the last two years, we have been serious in understanding this business and how to engage with it. one has to make this business happen”
Big Bazaar is also targeting a Rs 1,000 crore sales during the Maha Bachat sale between August 13-17 this year and will be encouraged by the online partnership.
“The cost of acquiring a customer (in e-commerce) is more than 20 per cent, cost of fulfilment is more than 20 per cent, cost of running the operation is 8-10 per cent totalling almost 50 per cent as cost of operation. At this cost, you can’t sell any goods in this medium,”
Future Group operates a range of retail stores such as Big Bazaar, fbb, Foodhall, Central, Brand Factory, Ezone and EasyDay. The group operates through its three listed entities –Future Retail Limited, Future Lifestyle Fashions Limited and Future Consumer Enterprises Limited.
Collectively, Future Group operates around 18.5 million square feet of retail space in over 240 cities and towns across India.
“Together, we see a fantastic opportunity to create an integrated mobile first, omni channel retail and payment solution for our wide consumer base,”
said Vijay Shekhar Sharma, founder and CEO of Paytm.
Earlier this year in April, Future Group acquired online furniture store FabFurnish.com—its first acquisition of an Internet store .
On the other hand , Paytm announced its partnership with Gurgaon-based PVR Cinemas, to bring PVR’s movie tickets to Paytm’s ecommerce platform.