06 January 2022, Mumbai:
Amazon Seller Services saw its operational revenue increase by 49 per cent in the financial year 2021. Another of Amazon’s businesses operating in India, Amazon Wholesale, significantly scaled down its business in the country in the past few years in response to tighter government foreign direct investment regulations.
Amazon Wholesale saw its operational revenue drop 70 per cent in fiscal 2020 but only a seven per cent drop in financial year 2021 indicating stabilization of business.
Moreover, Amazon Wholesale reported a profit of Rs 46 crores in the financial year 2021 compared to a loss of Rs 132 crores in the financial year 2020. Offering marketplace services has significantly contributed to Amazon’s growth in India.
Amazon India reported revenue of Rs 7,555 crores from offering marketplace services in the financial year 2021 compared to revenue of Rs 4,949 crores in the financial year 2020.
Amazon now has over 10 lakh sellers on its platform. Over 90 per cent of sellers are local small and medium businesses and over half of these sellers on the marketplace come from tier II and III cities. Over one lakh are local offline retailers and neighborhood stores that have been on boarded on the Amazon marketplace.
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