While Amazon developed a reputation for delivering little or no profit in its retail operations, its earnings have been growing over the past year as it expands into video and new delivery services and boosts its cloud computing unit, Amazon Web Services (AWS).
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“They crushed estimates”, said Michael Pachter, analyst at Wedbush Securities, as shares rose 2 percent after hours, in line to open at a record high. And now with launch of Amazon.in’s Prime membership program, Prime members get 30 minutes early access to top deals.
Last week, the Amazon launched its Prime subscription service in India, which comes with unlimited one-day and two-day delivery options with no minimum order size and early access to some deals on Amazon.
Amazon India users can now avail next day grocery and household products delivery through its new initiative called Amazon Pantry as reported by ET. It also plans to double its spend on its digital video streaming service to compete with services like Netflix.
This three days Great Sale will be available on www.amazon.in and the Amazon mobile shopping app. Amazon.in provide around 65 million products across hundreds of categories.
Amazon has been outspending local rivals like Bengaluru-based Flipkart and Delhi-based Snapdeal aggressively to win the Indian market, after it lost China to local e-commerce giants Alibaba and JD.com. In March Amazon also made its intention clear to keep pumping in more capital, as it filed to increase its authorised capital from Rs 8,500 crore to Rs 16,000 crore.
Amazon said its SAP business-critical applications are gaining momentum on AWS as customers including GE Oil & Gas, Kellogg’s, Brooks Brothers, Ferrara Candy Company, GPT Group, Hoya Corporation, Lionsgate, Macmillan Publishers India, RWE Czech Republic, and Bart & Associates are running SAP on AWS. We really like our team there. We like the initial results that we see from customers and also sellers.
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He was particularly effusive about Amazon’s India team. We think it’ll enter into a new chapter in India, and we’ve seen great success every country in the world that we’ve launched Prime, and we feel India is going to be no different.
