The festival of light proclaims prosperity and success, it brings an atmosphere of growth where every business tries their best to cash in on the festive season and grow. Our business model being symbiotic the only way for us to grow is when our agents and network upgrade and earn more income during the festivals. Keeping that in mind we already have launched gamut of services that will equip and enable our retailers and help them secure their future and give them opportunities to grow.
Diwali begets the rise in online sales of apparels and electronics. A traditional offline retail shop normally suffers a lot due to not being able to compete with the online organised retail platforms. Today we prefer online platforms not because we get offers which normally are just a marketing tool to attract more customers but mainly because of the convenience of payment, EMI options and home deliveries. The rise of digital payments has changed the buying behaviour of customers, especially in urban and semi-urban areas. This brings together opportunities for the companies to track, monitor and analyse a person’s buying habits. Online retail forestalls the growth of offline in many ways but the tide is about to change.
A Pay1 retailer today can provide the same if not more services; by being a part of the Pay1 platform the merchant gets access to various services that help them help their customers avail better services. We are at a point where today if a merchant becomes a Pay1 merchant he/she will take the transactions entirely digital, avail personal loans or sell mutual funds and insurance and become a travel booking agent, provide mini atm services point or sell high end and in-demand products including mobile phones or mobile accessories at a competitive market price we have already written about this here. The hybrid of offline reach and the online retail market is how the retail sector in India is going to evolve. Online does not guarantee reach-ability but our platform does to our retailers/partner companies. We have created a perfect hybrid by taking the best from both the worlds and moulded it into a scalable Pay1 merchant platform.
This festive season, especially for the Pay1 retailer, has become profitable and it will continue to be so considering that we have only just begun. As we have mentioned before the retail market will evolve when the online and offline retail work together, the digital business integrated into the offline unorganised market has not only helped develop the Pay1 retailers but also the market they operate in.
This Diwali has been extremely good, to see our merchants progress the way they have and also some couple of service launches especially Digital gold’s which has been integrated on the Pragati platform. There are more services that are going to be launched soon which will bridge the gap between Offline and Online e-commerce retail market.
The course of the retail industry has changed dramatically in recent years. With increased awareness, flexible government policies favouring the retail especially the unorganised retail market and the rise in technology, the foundation of our retail economy previously ignored has started to strengthen. In India, at times value is where the volume is and nothing can be compared to the mammoth market share these unorganised retail stores have in the Indian economy. We have written about this inordinately in the past that to develop our economy we need to develop the Kirana stores.
Over the course of 2018, we have launched many services that have optimised the business of our retail network and increased their profitability. But the end line for us is not just the development of the unorganised retail sector rather a doorway to vast opportunities and creative business ideas. One of the many ideas is developed around partnering up with companies that are looking to achieve a wider reach in the markets undiscovered, as we have our network spread throughout the country and also in areas identified as a potential market.
The Advantages of Partnering with us
We have more than 50,000 retailers active on monthly basis, who are using various services. The strong point for us is the widespread reach that we are able to gain through these merchants. Our retailer base is spread to most of the corners of the country where traditional marketing mediums don’t always work. The Pay1 retailer acts as a channel to other companies to reach out.
Offline advertising is an important medium of communication for many companies. We make sure that the retail shops in our network optimally utilise their infrastructure. Third party companies can promote themselves via the Pay1 shop
- Our retail network act as your sales agent –
Imagine having a sales team in 350+ cities spread out in various nooks and corners of the areas selling/promoting your product. Our retailer will act a satellite salesperson for the third party companies partnered with Pay1. Generating leads in areas where the companies will not be able to generate through traditional marketing mediums is quite possible via the Pay1 Platform.
Demographic data, survey’s and transactional data help the partnered companies mould their marketing communication as per the data mined.
The Pay1 Platform is constantly evolving, we have launched some of the most comprehensive services in the year 2018 and we plan to launch more products with more earning opportunities. The services currently launched not only help our retailer earn better but also gives a platform to third-party companies to sell their products. Pragati Capital, Shop1 and Pay1 Digi have given opportunities to many companies reach their sales goal.
The constant revisions on the platform develop better interactivity of the companies and the retailers and vice versa. The possibilities for business ideas are endless. Multinationals and start-ups get inexpensive marketing and product development solutions.