Amazon India Q1 sales jump over 300 percent

Tuesday, 18 August 2015

Amazon India has reported a considerable jump in its first quarter sales in India, as the company’s e-commerce battle with the homegrown players --Flipkart and Snapdeal toughens. The company’s sales—net of discounts, product returns and taxes—increased over 300 percent in the fiscal first quarter compared with the year-ago period and unit sales surged more than 500 percent. While the numbers are still much behind that of Flipkart’s, the growth has been much faster in the quarter. The company is also fast catching up with Snapdeal, owned by Jasper Infotech.

Flipkart’s unit sales rose 150 percent so far in 2015, compared with the year-ago period. Snapdeal reported an increase of 222 percent in gross merchandise value (GMV) in the April-June quarter. The American giant is all set for the forthcoming festive rush around Diwali, when most of the e-commerce firms generate more than half their annual sales.

Since launching in June 2013, Amazon India has been investing in marketing, while increasing the number of sellers on its platform significantly. The company is said to be offering more than 30 million products. The company that has been pursuing its India plans aggressively since the last two years is now said to be moving towards growing its India business into its biggest market outside the US. The company is also said to be in the process of adding features like Amazon Instant Video and subscription-based ecommerce services for high-end buyers, which would be called Amazon Prime, later this year.

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