Paytm Expects to Clock a GMV of $3-4 Billion by March 2016

Mobile commerce firm Paytm expects to clock a gross merchandise value (GMV) run rate of $3-4 billion (roughly Rs. 19200 – 25600 crores) by the end of March next year on the back of strong growth in transactions on its marketplace.

paytm logo

The Alibaba-backed company claims to have about 40,000 merchants on board already.

“We are witnessing a strong traction on our marketplace. Our business has been scaling rapidly and we are already clocking a gross merchandise value (GMV) run rate of $1.5 billion (roughly Rs. 9600 crores),” Paytm founder and CEO Vijay Shekhar Sharma told PTI.

He added that the company expects the GMV run rate to touch $3-4 billion by the end of the fiscal.

Revenue run rate is a term used in online retailing to indicate total sales value of merchandise sold through the marketplace over a certain period of time.

According to reports, Paytm’s rivals Snapdeal and Flipkart are clocking GMV run rates of about $3.5 billion (roughly Rs. 22,400 crores) and $4.5 billion (roughly Rs. 28,800 crores), respectively while Amazon is closing in on the $2 billion (roughly Rs. 12,800 crores) mark.

“We are presently doing up to two million transactions a day and have seen a 10 per cent week-on-week growth in that.

While we have 40,000 merchants on board, this number is expected to grow to one lakh by year-end,” he said.

Sharma said in the last month itself, 10,000 merchants had received orders through Paytm and the average cart size is about Rs 1,200-1,400.

“There are 10 million products on Paytm’s online marketplace and the figure is increasing by 2-3 million products every month. For us, the focus will be on non-electronic categories like apparels and accessories,” he said.

He added that around 90 percent of its orders are from unstructured categories like fashion, home furnishing and accessories.


Filed in: android Update, Business, Computer Hardware, Computer magazine, Computer News, computer reseller news, IT Magazine, Magazine Advertisement india, Networking, New Feature, New Product, News, Product Launch, Social Media, Technology News

Related Posts

Bookmark and Promote!

© 2018 ItVoice | Online IT Magazine India. All rights reserved.
Powered by IT Voice