Published on April 23rd, 2012 | by drkkr0
Seventeen years after launching their online venture, the $88.4 billion world’s largest retailer Amazon.com entered Asia’s third largest economy on 2nd February 2012 by launching its shopping website jungle.com.
India is a fast growing e-commerce market and the proof for that happens to be websites such as Flipkart and MakeMytrip Ltd and Fashion and You. Some of these firms are leveraging an industry growing at 50 per cent each year. E-commerce has a huge potential in India, a country of more than 1.2 billion people with a bulging middle class and rapidly-rising incomes. The country has only 52 million active Internet users, of which only 40 percent have shopped online.
Junglee.com will offer more than 12 million products from over 14,000 Indian and global brands, including the retailer’s top-selling Kindle e-book reader. “We are excited to give customers in India a single online starting point where they can shop a wide selection of products sold by local and global retailers, and make informed purchasing decisions,” Amit Agarwal, Amazon.com vice president said in the statement.
Amazon’s offering will find itself contending with a foe the company knows well. Flipkart, India’s biggest online bookseller was founded by two former Amazon employees in 2007. The website, which has expanded into mobile phones, appliances, music and movies, sells 10 products a minute and targets $1 billion in revenue by 2015.
Amazon has revolutionized the online shopping experience. Amazon recently was setting up its first warehouses in India, which would make shipments faster and cheaper.
Brand Amazon, a Fortune 500 company based in Seattle, Washington, is the global leader in e-commerce. Since Jeff Bezos started Amazon in 1995. Today, Amazon offers everything from books and electronics to tennis rackets and diamond jewellery. Amazon operates sites in the United Kingdom, Germany, France, Japan, Canada, Italy, and China and maintains dozens of fulfilment centres around the world which encompass more than 26 million square feet. Technological innovation think drives the growth of Amazon. Amazons marketing it offers customers more types of products, do more conveniently, and at even lower prices.
Welcome Amazon to India. Folks, share your perceptions on Amazon @ India.