Paytm, a India business enterprise invested by Alibaba, has launched a shopping App - Paytm Mall, competing with Amason, a local e-commerce giant, and Amason, a global rival.
Paytm Mall simulates the operation mode of Chinese Tmall, which is released when the online shopping market in India is increasingly mature because of the competition between Amazon and Flipkart.
In 2016, India e-commerce industry can see the collapse of Askme and other enterprises, such as Flipkart and Snapdeal, which also cut off and reduce expenses, and strive for profit.
In order to compete with Amazon, India companies have struggled on the road to financing. What's the final result? In 2016, the growth rate of the e-commerce industry was only 12%, down 15 times, with sales of $14 billion 500 million.
According to data from RedSeer Consulting, a consultancy, the business industry in India was close to $13 billion in 2015, up 180% from 2014.
Alibaba continued to invest in the e-commerce industry in India. It invested $200 million for Paytm, and the Paytm was valued at 1 billion after this round of financing.
Paytm provides an e-commerce sales platform for 140 thousand local sellers in India, provides a variety of products to consumers, and sets up 17 logistics centers to speed up the delivery of products. The company aims to become the leader of the India e-commerce market.
To compete with Amazon, Paytm plans to offer more than 1 billion global ecommerce products for the upcoming festival in August this year.
According to the market data, the Amazon India station has nearly 500 million products, while there are nearly 50 million products on the Flipkart and Snapdeal platforms.
A person familiar with the matter said, "Paytm can bring Paytm to Southeast Asia (Lazada), the seller of the US and Europe with the strength of Alibaba, and the scale of Paytm will be two times the next two years."
The company said it will provide shopping environment for India consumers to combine shopping malls with bazaar concepts, and ensure high-quality and qualified products on the platform.
Saurabh Vashishtha, vice president of Paytm, said: "the new App will have a new function, Paytm Bazaar, so that consumers can get most of the products and some overseas products.