Amazon India has witnessed a strong growth in its sellers and rise in number of 'crorepati' businesses on the platform even during the pandemic-hit year, reports Economic Times.
As per Amit Agarwal, Senior Vice President and Country Head, Amazon India, more than 2.5 lakh new sellers have joined since last year, and that the rate at which sellers have come online has gone by 50 per cent post COVID-19.
Amazon, Reliance Industries and Walmart Inc's Flipkart are locked in a battle to gain market share in India, where millions of middle-class customers are newly adopting online purchases of food and groceries due to the pandemic. The booming e-commerce market in the country is expected to touch $86 billion by 2024, according to research firm Forrester.
E-commerce companies have pumped in billions of dollars in setting up infrastructure like warehouses and logistics as well as marketing and promotions to woo users to their platforms, especially from tier II cities and beyond.
