Amazon India Breaks Records
It is reported that by the end of the fiscal year, Amazon India will sell goods amounting to $2 billion. If Amazon India will hit the mark, it will become the fastest electronic retailer in India.
India’s competitive electronic retailers include Snapdeal and Flipkart. It took Snapdeal four years to cross the $2 billion mark. If Amazon India reaches that line this year, it would have taken it half the time as Snapdeal had. On the other hand, the country’s largest electronic retailer, Flipkart, took seven years to amass an amount of $2 billion worth of goods sold.
According to insiders, Amazon India has already sold goods amounting to $1.51 billion by the second week of January 2015. This sends a shivering message to its competitors in electronic retailing.
The boom of online buying and selling
What was perceived in the past as impossible has become possible with the advent of high technology. Businessmen continuously poured out their thoughts on means and ways to make trading, buying and selling easier. Thus, electronic retailing came to life. Over the past decades, e-retailing has been on the boom and continues to gain widespread popularity. People jump into the bandwagon of this phenomenon since it gives great advantages to both the seller and the buyer.
One is spared from the delay of purchasing an item because of geographical problems. The hassles of waiting in long queues are also eradicated in online retailing. Thus, people shift from the manual business transactions to electronic retailing.
There are now hundreds of companies engaged in online retailing. Every company has its own niche in the market. The branding a company has is vital to the success it will achieve in the long run. Amazon for example has unblemished and perhaps unparalleled track record. It has established its reputation in the online world. It is perhaps because of this reason that Amazon India’s sale is sky-rocketing.
As of launching, Amazon India has already opened eight warehouses. One of its major competitors, Flipkart, has thirteen warehouses. As Amazon India is still in its early years, the numbers it gives are very competitive to grabbing the larger portion of the market.