Homegrown fintech giant Paytm’s e-commerce arm Paytm Mall is testing a group buying feature called as ‘Paytm Bang‘, according to Entrackr’s report.
The feature is said to be in the Beta stage and available only to a few. The report suggests that the Paytm Bang allows buyers to come together to buy a product to get discounts and offers across categories.
As per the Paytm app’s information, the report claims that the users can select an item from a selection. The share the link with their friends within 24 hours. And if at least two buyers pick the same product, the company will ship it to all three with the applicable offer.
This group buying feature covers essentials, fashion, electronics, and home among other categories. However, the discount will depend on the number of people buying a particular product.
Paytm Bang Is Not A New Concept?
In 2018, Grofers had launched a group buying feature. But as Grofers felt that the feature couldn’t be scale-up, it discontinued the feature in January this year.
Earlier this, Paytm had already ensured its entry in the social commerce space with My Store. Reportedly, all shipments and fulfillment for Bang will be done by Paytm Mall as like its My Store.
We all know that online shopping trends are massively increased amid coronavirus lockdown. So now every e-commerce player in the country wants to grow its userbase at this high time.
With the same thought, Paytm Mall has been trying several features like social commerce, mini-program, and now group buying to attracted more customers across India.