Olsavsky mentioned the US – based company has witnessed sales quadruple throughout the festive season (pre-Diwali income) in comparison to this past year.
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“We’re really prompted with what we are seeing, equally on the consumer side and the supplier side”.
Starting with its Diwali sale today, the US-based ecommerce marketplace, Amazon has announced its intentions to continue investing in the Indian market owing to its strong sales numbers and for expanding its seller base in the country.
“We come in the midst of the Diwali time that is going really well”.
Active customer accounts are up 230 per cent year-over-year.
Brian Olsavsky, chief financial officer at Seattle-based Amazon, said on an investor call on Thursday.
Amazon said 90 per cent of Indian sellers are using its logistics and warehousing services.
Olsavsky added that the company has been adding 40,000 products a day so far this year on its platform and the number of sellers has grown more than 250% year-on-year.
“As a result, we’ve tripled our fulfilment capacity year-over-year”.
“So, we’re extremely inspired, when I said last quarter in Asia, and proceed to speculate there really heavily”, Mr. Olsavsky stated.
Nevertheless, he declined to disclose specific investment facts. It sees India as its fastest growing market, and a year ago announced a significant investment of $2 billion to expand its operations.
United States dollars 60-70 billion by 2019 will be the size of the e-commerce industry in India from USD 17 billion in 2014, according to a BCG report.
Amazon is now investing into setting-up stores across the country to speedup productivity and supply.
While Amazon is confident in India, it will be battling against major players that have existed for a while now, such as Flipkart and Snapdeal.
Now, Amazon covers over 5 million cubic feet in cumulative storage area and a total count of over 21 fulfillment centers in India, after it set up a new one in Pune earlier this month.
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“India is a special market and doesn’t have a variety of the identical prepared fulfilment choices that another nations did”. We see that as an opportunity. “We think we’re attractive both to customers and to sellers and we like our position”.
