Paytm Mall states that due to the COVID-19 pandemic there has been an increasing rate digital payments on e-commerce sites in India as more and more consumers shop through online means as a result of a shift in consumer behavior during the pandemic. The Paytm Mall helps the consumer to sit home and purchase the item they which will be delivered to their doorstep, during this COVID-19 pandemic peoples fear to go out for offline shopping as a result online shopping gained a lot of importance and more and more consumer started to use the online platform to shop.
According to Abhishek Rajan, chief operating officer of Paytm Mall, in an e-commerce ecosystem level, with the ongoing COVID-19 pandemic, the company believes more people are now embracing digital payments, a shift that is set to continue and grow. The company stopped the cash-on-delivery more than a year ago. Not accepting cash has never been an issue for the company customers as they prefer paying via the Paytm wallet or other digital means.
The people who choose the cash-on-delivery mode of payment often take the option for granted, and this results in a huge loss for the companies. As per a logistics company, these undelivered parcels cost the company any price from Rs. 50 to Rs. 150 depending on the size of the parcel. A few numbers of retailers have now started to avoid the COD option as this payment mode results in higher cancellations of orders at the time of delivery.
According to ANS Commerce between 10 percent and 30 percent of cash-on-delivery orders are returned by customers compared with 5-15 percent for pre-paid orders. So, retailers including Puma and other department store chain iconic have started offering their online customers an up-front 5 percent discount if they choose digital modes of payment.
Paytm malls recently have a festival season sale which included products from MSMEs, made in India brands, government-run emporiums along with international fashion, lifestyle, electronics, and home categories brands will be a part of the sale. Paytm mall tries to promote more Indian brands to help the Indian MSMEs and increase the sale of Indian products.
