A Delhi-NCR based electronic payment company Paytm is planning to invest a sum of 1000 crore for marketing and promotion. The electronic payment firm is planning this for the upcoming festive season in September and October and is also gunning down to compete with retail giants like Amazon India and Flipkart.

Marketing Budget of Paytm   

Paytm mall’s marketing budget is over three times more than what its competitors Amazon India, Snapdeal, and Flipkart has spent last year.

“Amazon India, Snapdeal and Flipkart spent Rs 250-300 crore last year in promoting these (festive) sales,” said Satish Meena, senior forecast analyst, Forrester Research.

Bringing of brand stores and Authorized Retailers

In the course of recent weeks, Paytm Mall – which did not have mark stores on its stage – has expedited board 1,000 brand stores and 15,000 brand-approved retailers. It intends to include 5,000 vast brands and shops ahead of Diwali.

“This festive season, while online retailers will focus on spending money and taking away business from shops in the neighborhood, we will work with them and bring special offers for consumers to shop from their nearby markets by enabling these shopkeepers with mobile technology,” said Amit Sinha, COO, Paytm Mall.

Paytm planning for a Tough Competition with Amazon & Flipkart

Analysts think that Paytm mall will give tough competition to Amazon and Flipkart in sales of appliances and consumer electronics, but not in sales of Fashion retail. Paytm mall is further aiming for a $4 billion gross merchandise volume by the end of this year.