US-based Amazon has witnessed a 250 per cent year-on-year growth in bringing new sellers on board as it looks to tap into the booming e-commerce market in India.
According to a PTI report: The company, which is making multi-billion dollar investments in India, has over 85,000 sellers on board. “We started with 100 sellers three years ago and now we have over 85,000 sellers growing at 250 per cent year-on-year and adding over 90,000 products a day,” an Amazon India spokesperson was quoted by PTI as saying.
Amazon, which competes with the likes of Flipkart and Snapdeal, has cut its commissions by 25-30 per cent across categories like mobile phones, PCs, electronic devices and personal care appliances.
“We think these revised rates can significantly help sellers to perform even better and succeed in their business. In addition, we continue to innovate and offer best in class services such as Fulfillment by Amazon, Easy Ship, Seller Flex, etc to help them with fulfillment/logistics so that they can focus on their business,” the Amazon was quoted by PTI as saying.
Flipkart, on the contrary, had recently increased its commissions across key segments and asked sellers to bear the costs of logistics in case of returns. Recently, Amazon CEO Jeff Bezos had said the company will invest $3 billion in India. This is in addition to the American e-commerce giant’s $2 billion infusion in 2014, taking its total investments here to over $5 billion.
The funds will be channeled towards enhancing customer and seller experience, Managing Director, Amazon India, Amit Agarwal was quoted by PTI as saying. He added, “India is a key market for Amazon and we will work towards continuing to reduce operating costs for sellers backed by good logistics and fulfillment capabilities.”