Amazon.com, the world's largest online retailer, has finally
made an entry into the fast-growing Indian e-commerce market with its web
portal Amazon.in.
Buyers can browse through a catalogue of 7 million local and
imported books and 12,000 titles from movies and TV shows to begin with. The
company is planning to expand its product footprint to cameras, mobiles and
other electronics devices in the coming months.
Unlike the US website, which has both Amazon owned products as
well as third party products. The Indian website does not own any
merchandise, but merely acts as an aggregator to all the retailers who wish to
exhibit their products on the website. Amazon will not stock and sell its own
products because India's FDI regulations do not allow online multibrand
retailers to sell their own products.
Amazon has signed up 100 vendors across the country so far
and has set up a 1.5 lakh sqft fulfillment center in Mumbai to service online
orders. Any of the lakhs of retailers in India can hope to sign up with Amazon
and sell their products online.
"Our vision is to become a trusted and meaningful sales
channel for retailers of all sizes across India, enabling them to succeed and
grow their business online," said Amit Agarwal, vice president, and
country manager, Amazon India.
It will be interesting to see, how the company fares with
the stiff competition from Indian retailers like Flipkart, Snapdeal and
Homeshop18.
Amazon India is already operating Junglee.com, a
price-comparison portal launched in February last year. Instead of selling products
on its web page, Junglee.com sends visitors to the website of the seller.
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