While trying to sustain its position in Indian Market, the online E-commerce giant Amazon has lost $487 Million in the International market at the quarter end in December.
During the fourth quarter, Amazon saw an incredible rise in the net sale of international market by 18% ($13.96 B). But during the third quarter of 2016, Amazon lost $541 Million. In June 2016, Amazon announced that it will infuse $3 B in India in the next few years to take on its rival , Flipkart.
In July 2016, Amazon had launched Amazon Pantry which offers online grocery and household essentials along with house delivery option, Amazon Now. Prior to that, Amazon India had also launched local product named KiranaNow in Bangalore for an express delivery platform for groceries.
Apart from grocery service, Amazon has also launched Amazon Prime Video in India. The service is an additional offering for Amazon’s Prime subscribers, including existing ones.It allows users exclusive access to movies, Amazon’s original series as well as premium content from across the globe.
In September 2016, Amazon has invested over $17 M in a B2B portal to increase smartphones transaction in the country. Later in December 2016, Amazon introduced a Launch Pad Program in India, which helps Indian startups to increase their customer base globally.
In the same month, Amazon (Read More) has invested fresh capital of $294 M in India’s main unit which made the largest capital infusion. In last 12 months, the total capital invested by Amazon in Indian Seller Services is over $1 B (INR 7,000 Cr).
While India’s Internet market has expanded, the number of actual profit making transactions has barely grown. Earlier E-commerce companies like Flipkart, Snapdeal, Ola and Zomato have faced similar problems. Amazon has now joined the bandwagon downfall. This year has started very roughly for all the E-commerce ventures. Read more News
Love playing sports? Download this app "Win cash rewards while playing sports that you love".