After years of speculation, it has finally happened. Amazon India is now open for business. More than a year after launching Junglee, a price comparison engine, the ecommerce giant has launched its own full-fledged marketplace.
“Our vision, at Amazon, is to be Earth’s most customer centric company; to build a place where people can come to find and discover virtually anything they want to buy online. With Amazon.in, we endeavor to build that same destination in India by giving customers more of what they want – vast selection, low prices, fast and reliable delivery, and a trusted and convenient experience,” said Greg Greeley, Vice President of International Expansion at Amazon.com. “We’re excited to get started in India and we will relentlessly focus on raising the bar for customer experience in India.”
India is Amazon’s tenth marketplace, after countries like USA, UK, Canada, China, and Japan. The Seattle based online retailer is starting off with its strong suite – books. Amazon India claims that it currently has more than 7 million books in its catalog. The Indian store also has nearly ten thousand movies and a little over one thousand TV shows for sale. Other categories including Mobiles and Camera are expected to be launched soon.
The Amazon India launch was months in the making. However, the biggest stumbling block was the Indian government. Restrictions on foreign investment on multi-brand retailers prevented Amazon from setting shop in India. However, it appears that Amazon has found a way around the regulations. Unlike in the US and many other countries, Amazon won’t be maintaining its own inventory. Instead it will be operating purely in a marketplace based model. Times of India is reporting that Amazon has signed up 100 vendors across the country, and has setup a 1.5 lakh sqft fulfillment center near Mumbai to service online orders. Amazon is also inviting other retailers to sign up and list their products in the Amazon marketplace. It is providing two options for vendors – Selling on Amazon and Fulfillment by Amazon (FBA). The former allows the seller to list their products on Amazon.in, while retaining control over inventory, shipping, and customer service. The latter allows the seller to leverage Amazon’s expertise by offloading logistics, shipping and customer service also to Amazon.