Amazon, the frontrunner eCommerce enterprise in the Indian Webspace, has infused a large sum of money; Rs. 1,460 crores in Amazon Seller Services, according to the documents submitted with the corporate affairs ministry and shared in the corporate affairs ministry intelligence report. Reportedly, Amazon Corporate Holdings Pvt leads the funding. Ltd, Singapore and Amazon.com Inc Ltd, Mauritius. Amazon Seller Services is the entity that operates the company's wing to facilitate sellers to market their products online in the country and international markets too.
The decision on the funding took place in the board of directors meeting held on October 29, 2021. The decision was passed through a resolution that agreed that it should be funded well to enable sellers to market their products. However, Amazon India didn't respond to the email seeking clarification on the news reports.
Reportedly, a significant share of the funds (Ra. 1,459.9 crores) was floated from Amazon Singapore, which will provide more arsenal to Amazon to compete against the other players, including Walmart-led Flipkart and others. Interestingly, the market way has forced Amazon to aggressively invest into expanding infrastructure and adding solutions for made conducive markets for sellers and consumers. It also ensured that a win-win market solution is provided for both consumers and sellers for a greater benefit. Recently, Amazon has pumped Rs. 1,000 crores of money into its Indian operation, Amazon Pay, on account of tapping the advantage of the ongoing festive season. Therefore, the new investment is seen close to strengthening its market presence during the ongoing festive season.
According to the company sources, Indian eCommerce has one of the largest concentrations of consumers who are using technology as the means to buy their preferred products "more than ever before." Especially, people from tier II and tier III cities such as Ernakulam, Guntur, and others are using the power of technology to enjoy their shopping spree from the comforts of their homes.
Customers from 99.7 percent pin codes have already shopped on the platform in the ongoing festive sale, and many more are likely to join the experience in the upcoming months.
Amazon India had kickstarted its sale campaign "Great Indian Festival 2021" on October 2 with Prime members gaining early access, which continued for all customers on October 3, resulting in more than 10 lakh customers purchasing various products from different categories in the first two days of the sale. The experience was overwhelming and encouraging, and the company decided to strengthen its sales by adding fresh rounds of money.
Pavankumar Baboori is an experienced Sr. Content Analyst who improves the workflow by identifying and resolving the content development gap. He works closely with the marketing team to deploy strategies for improving brand awareness, website traffic, search engine ranking, and lead generation activities. He gauges up marketing channels for the real digital transformations.
Leave a Comment
