Remember Cloudtail, the biggest selling merchant on the Amazon India platform that IOS told you about?
The same seller has suffered huge losses, according to this The Financial Express report.
The merchant’s loss ballooned to a whopping Rs. 31.7 crore in FY15 from Rs. 14,035 in the preceding year. This comes as a huge shock since Cloudtail, a joint venture between Amazon and Narayana Murthy’s Catamaran Ventures is the biggest seller on the platform and accounts to nearly 40% of the total sales.
The online marketplace is yet to release its FY 2015 balance sheet, but chances are that Cloudtail’s huge losses will reflect on Amazon’s revenue too.
As of now, Amazon India is the biggest ecommerce marketplace and has overtaken Flipkart in terms of traffic. One of the factors that led to this growth is the global selling programme for sellers initiated by Amazon. The programme encouraged SMEs from all corners of the country to come online and join the platform.
Editor team is specialized in introducing the marketplace content targeting the Indian online sellers. They plan and coordinate to bring the appealing content for the small businesses on how to partner with the e-commerce sites like Amazon and Flipkart and strategies for improving their online business.
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