Global giant Amazon recently invested Rs. 341 crore in Amazon Wholesale arm of Amazon India
Amazon has entered the wholesale market in Amazon India. This fresh funding comes close to another investment amounting to Rs.1, 680 crore made by Amazon in the Indian online marketplace. The transaction was completed in May and currently it will be serving businesses in Mangalore and Bengaluru only. These funds will be used into expanding the services to different cities across the country. Through this funding, Amazon aims to reach out to different cities and expand the customer base by offering everything that the customer wants.
Cheaper smartphones, increasing penetration of internet and discounts has led to the surge in online shopping for everything from groceries to apparel in India. Amazon has maintained the quality of its products and always provided discounts which lure the customers to their shopping portal. Currently, Amazon offers food products in India through Amazon Pantry and also offers same day grocery delivery on the Amazon Now App which works with a tie up with Big Bazaar, Star Bazaar and Hypercity.
A spokesperson at Amazon India mentioned that they aim at focusing on the expansion of their selection and raising the standard for customer experience as well as online shopping in India. Their vision is to build a place where businesses can discover virtually anything they want to buy online. The AmazonBusiness.in caters to the businesses that include small offices, entrepreneurs, kirana stores, drug stores, department stores, clinics, hospitals and restaurants.
Amazon has been constantly expanding its services across the country and has committed investments amounting to USD 5 billion into the Indian market.
In 2016, Amazon had said that it will invest USD 3 billion in India, topping the company’s earlier investment of USD 2 billion. This shows the significance of the Indian market to its operations.
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