After Flipkart and Snapdeal , Paytm is all set for a mega sale on November 3

The recently concluded mega sale on ecommerce portals like Flipkart, Snapdeal and Amazon has encouraged another competitor on the fray and that’s Paytm. The Alibaba backed ecommerce company will kick off its three-day festive season sale from November 3.

With discounts up to 80% and double cashbacks on all products, this sale is expected to generate Paytm a substantial part of the Rs 1,000 crore targeted for the entire festive season.

Earmarking Rs 100 crore on marketing during Festive season till the Christmas, Paytm’s major focus is now on the tier-2 and tier-3 cities. Paytm has tied up with more than 30 large, small and local delivery companies including Delhivery and BlueDart.

"We're expecting sales of Rs 1,000 crore from the entire festive season," Saurabh Vashishtha, vice president for business at Paytm told ET. "A significant portion, around 25-30%, of sales from the festive season should come from the three days."

While the basic assumptions have begun, mobile phones and apparels are said to be on major demand. Large appliances and home décor would be the next in the category of top selling products. The recently concluded Big Billion Day sale of Flipkart has also seen a business of $200 million from the mobile phones alone.

"We're expecting the gifts and sweets category to see more transactions, as we saw the trend pick up during Eid," Vashishtha told the financial daily. Cashback will be a big draw for consumers as Paytm will match the discount offered by the seller, effectively doubling it, on all products. The company may extend this '$ for $' cashback beyond the three sale days, depending on the customer response, said some news reports.