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.