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Amazon Establishes Online Marketplace In India
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Amazon, the world's
largest online retailer, has launched an online marketplace in India, Amazon.in,
where third-party sellers can list their products and sell directly to
customers. India represents Amazon's tenth marketplace where 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. "What it
means to consumers in India is they get to choose from a vast selection at low
prices through fast and reliable delivery," said Greg Greeley,
VP-international expansion in Amazon.
Globally, it has over
2 million sellers and over 200 million customers across 9 marketplaces
including Canada, Japan, China and the UK. 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 fulfilment centre 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. Amazon debuted in the
country launching a shopping catalogue aggregator Junglee.com, to tap into the
country's rapidly growing e-commerce market. India's e-commerce or more specifically
e-tailing market, crossed $800 million with 13 million online shoppers in 2012,
said a recent Accel Partners study. The country's internet penetration stands
at about 8% with 137 million users, of which roughly 20 million are shoppers
including the online travel agency market. This reflects China's online market
back in 2005. China now has 538 million internet users and 227 million online
shoppers. Recently, the country's largest e-commerce player Flipkart unveiled
an online marketplace where customers can choose their suppliers across a wide
variety of product categories. Another e-commerce company Infibeam has launched
its Build a Bazaar platform to enable retailers build their stores online and
connect with prospective buyers. Amazon's marketplace allows third-party
sellers to access its suite of services including Selling on Amazon and
Fulfilment by Amazon (FBA). When sellers list the products on the website, they
maintain their own inventory, fulfill orders and provide customer service. In
the FBA model, third party sellers can access Amazon's fulfilment resources and
expertise, customer service and shipping options. "We provide barrier free
access nationwide without any listing fee. Sellers can leverage on Amazon's
investment in technology and innovation. It also provides sellers pay as you
use fulfilment service," said Amit Agarwal, country manager for Amazon
India, who has been with Amazon for the past 14 years.
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