Future Group, Paytm Tie-Up To Take Big Bazaar O...

Future Group, Paytm Tie-Up To Take Big Bazaar Online

Score: 8 Votes: 8
Score: 8 Votes: 8
Score: 8 Votes: 8
Score: 8 Votes: 8
Score: 8 Votes: 8
10646965 652473674871348 2166427431769653643 n
Deal Lieutenant
5
76
3896
109

Future Group, Paytm Tie-Up To Take Big Bazaar Online

Press Trust of India | Last Updated: August 04, 2016 18:46 (IST)

Mumbai: Retail company Future Group has tied up with mobile payments and commerce platform Paytm to enable Paytm users to shop for Big Bazaar merchandise on the online marketplace and get it delivered to their homes.

The tie-up will make Big Bazaar the anchor store on the Paytm marketplace. Further, customers of Big Bazaar can get a 15 per cent cashback on all purchases, both online and offline, using Paytm’s wallet facility.

“The unit economics of e-commerce has been the key bane for understanding the business, making a partnership the most viable format to take Big Bazaar online,” Kishore Biyani, Group CEO of Future Group said.

“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,” he added.

“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,” he said.

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, Biyani said.

“Together (with Future Group), we see a fantastic opportunity to create a mobile first, omni-channel retail and payment solution for our wide consumer base,” Vijay Shekhar Sharma, founder and CEO of Paytm said here.

“In addition to shopping for Big Bazaar merchandise on Paytm, users can also pay using the Paytm wallet in any of the Future Group retail outlets,” he added.

Future Group operates a range of popular stores, such as Big Bazaar, FBB, Foodhall, Central, Brand Factory, Ezone and EasyDay.

(Source – http://profit.ndtv.com/news/start-ups/article-f...)

14 Comments  |  
11 Dimers
Dealfinder
Deal Lieutenant
28
547
5327
221

OMG this should force amazon to run their SVD some more matured!!!.. biggrin

Img 20161125 220914
Deal Lieutenant
2
27
4252
42

@Spock Yeh kya padh liya maine.. big bazaar going online eek

CC: @A2Zdeals

Osho
Critic
21
169
13278
214

The competition is getting tougher! biggrin

This is how Amazon should be dealt with, not like Flipkart. toungueout

CC @DealSeeker

200
Deal Subedar
0
90
2072
20

Wow! #Nachoo wink

Img 20161125 220914
Deal Lieutenant
2
27
4252
42
@Magus wrote:

The competition is getting tougher! biggrin

This is how Amazon should be dealt with, not like Flipkart. toungueout

CC @DealSeeker


Vijay Sekhar Sharma is miles ahead of Bansals. toungueout

Can you imagine how big would Paytm become after this.. I got goosebumps after reading this…
Cashless transactions would become a reality

ad bot
1
1
1
1
Ad Bot

I found this sponsored content on one of the ad networks.

200
Budding Star
27
1,989
21622
381
@saymyname wrote:

@Magus wrote:

The competition is getting tougher! biggrin

This is how Amazon should be dealt with, not like Flipkart. toungueout

CC @DealSeeker


Vijay Sekhar Sharma is miles ahead of Bansals. toungueout

Can you imagine how big would Paytm become after this.. I got goosebumps after reading this…
Cashless transactions would become a reality


Very correct. At present scenario only paytm can give a tough competition to amazon. Flipkart went on with the strategy of letsbuy which is basically concentrating on the electronics category. But for the so called page views, GMV, valuations and what not, companies need to move to FMCG sector.

Partnering with Big bazaar is one the best steps taken by both the parties (its a win-win situation for everyone). Paytm doesn’t need to tackle the hassles of inventory management and Big bazaar can reach out to a large customer base.

Kishore Biyani of BB once said E-commerce is like Basanti’s song in ‘Sholay’, ‘Jab tak hai jaan’. you can make customers dance till you have cash to burn. The actual issue arises when cash deficiency arises. We Indians are not much loyal, so better the discount more the number of customers. Time will only make the customers turn towards the service and experience and not towards the discount offered.

Remember one thing, make sure you have a business that generates revenue from the very first customer. Cash burn for customer acquisition is like depicting that an MBA can only run a business. toungueout

Osho
Critic
21
169
13278
214
@saymyname wrote:

Vijay Sekhar Sharma is miles ahead of Bansals. toungueout

Can you imagine how big would Paytm become after this.. I got goosebumps after reading this…
Cashless transactions would become a reality



An unexpected turn of events! Now Big Bazaar offers will be available pan India. smile

Dealfinder
Deal Lieutenant
28
547
5327
221
@Magus wrote:

The competition is getting tougher! biggrin

This is how Amazon should be dealt with, not like Flipkart. toungueout

CC @DealSeeker


I wish Flilpkart thrown out of this segment.. Their team deserves it!!..
Bansals where so greedy that they thought they are the dominant players in this market as they where very aggressive
after they acquired the customer base initially..
Cheap and poor management from Bansals will lead to a fall of one of the Indian startups!!.. cry

Giphy %282%29
Deal Lieutenant
6
213
4670
46

Does anyone else buys a BREAD to get free parking at Big Bazaar?

Osho
Critic
21
169
13278
214
@19 Female Gurgaon wrote:

Does anyone else buys a BREAD to get free parking at Big Bazaar?



Have you ever done anything non-crooked in your life? confused

Draw
Deal Colonel
10
1,179
51958
1041
@Magus wrote:

@19 Female Gurgaon wrote:

Does anyone else buys a BREAD to get free parking at Big Bazaar?



Have you ever done anything non-crooked in your life? confused

Whom u r asking ?

you cant compare @opium and @wtf

Break the bottle
Deal Captain
2
130
9054
53
@19 Female Gurgaon wrote:

Does anyone else buys a BREAD to get free parking at Big Bazaar?


Bread is to costly. Why don’t you buy just a candy? You can save more this way…. wink

Shutterstock 1013504321
Deal Subedar
2
5
2598
25

Faltu ki baat choro ye batao 15% cashback kab se hai PTM Se Pay Karne per ?

Missing
Deal Subedar
2
141
1606
13

Kishore Biyani + Vijay Sekhar Sharma (+ Jack Ma)

Really formidable combination. Now Amazon has to react.

Missing