Ecommerce giant Amazon has marked its 10-year presence in India by waiving off 10% of its seller charges on June 5. Since its establishment in the country on June 5, 2013, Amazon has expanded its operations to various segments including cloud services, ecommerce, and video streaming.
According to a report by Moneycontrol, Amazon currently has over 1.2 million sellers in India, slightly more than Walmart-owned Flipkart, which has 1.1 million sellers.
In a blog post, Amazon highlighted its approach to digitize businesses of all sizes and provide a wide selection of products to customers using technology to eliminate inefficiencies and deliver greater value.
The company attributed its growth in India to features such as easy returns, access to shopping options in vernacular languages, and partnerships with Indian Railways and its own Prime Air flights for seamless shipments.
Amazon faced challenges during its initial days in India, as the market was different and both customers and sellers were new to ecommerce. However, the company’s innovative solutions and execution agility helped overcome these obstacles.
Over time, Amazon expanded its infrastructure to meet the growing demand, launching initiatives like Seller Flex, which transformed seller locations into mini Amazon fulfillment centers.
Looking ahead, Amazon sees immense potential in India, given its young population, rising income levels, and increasing internet and social media penetration. The company remains committed to innovating for customers and supporting small businesses and startups to contribute to India’s vision of becoming a $1 trillion digital economy.
In terms of future growth, Amazon is eyeing the online grocery segment in India. Its Amazon Fresh service has expanded to more than 50 cities in the country, doubling its presence in just one year.
While Amazon’s business in emerging countries like India is not yet profitable, the company believes these markets hold significant potential and are on the right track for long-term success.