BusinessLifeStyle

Amazon: Double down on Groceries; Foray Deeper into fresh Produce in India

Amazon to double down on groceries; foray deeper into fresh produce in IndiaAmazon.com Inc expects groceries and household products to account for over half of its business in India in the next five years, as it moves to broaden offerings in the segment a

Expects of Amazon.com Inc groceries and household products to account for over half of its business in India in the next five years, as it moves to broaden offerings in the segment and foray into areas such as fresh produce.

Amit Agarwal, the India head of Amazon, said in an interview on Friday that groceries and goods such as creams, soaps and cleaning products, were already the largest product category on Amazon in terms of number of units sold in India.

“I would not speculate on when we would launch AmazonFresh but, absolutely, if you ask me the next five years of vision from your avocados to your potatoes, and your meat to your ice cream we’ll deliver everything to you in two hours,” he said.

AmazonFresh, which launched more than a decade ago in the US market, is the company’s flagship fresh grocery delivery service. In India, Amazon currently offers some groceries via a service named Pantry. It has also tied up with local vendors in four cities for Amazon Now, which promises two-hour deliveries.

“Probably in the next five years groceries and consumables would be more than half of our business,” he told .

Agarwal said Amazon had already started experimenting with a few fresh groceries in India, already home to its largest active customer base outside of the United States.

India’s e-commerce market is tipped to grow to $200 billion in a decade, according to Morgan Stanley, as cheap mobile data makes online shopping increasingly accessible. And Amazon, which already has over 100 million registered users in India, is looking to cash-in on the opportunity.

“We want to get the next hundred million customers shopping with us,” said Agarwal, adding that Amazon plans to woo new clients with product exchange and staggered payment offerings. HUGE OPPORTUNITY.

With almost 500 million Indians using the Internet in 2018, India, Asia’s No 3 economy, is a huge e-commerce battleground. Retail giant Walmart is inching closer to (read here) buying a controlling stake into home-grown e-commerce player Flipkart, which is already backed by big name investors like SoftBank, Tencent and Microsoft.

“I feel extremely excited that e-commerce is attracting so much funding,” Agarwal said. “Otherwise, we’d have been wrong in going about it in such as big way.”

Amazon’s founder Jeff Bezos told shareholders in a letter last week that Amazon India is the fastest growing marketplace in the country. He said Amazon added more members to its Prime loyalty programme in India in its first year, than any previous geography in Amazon’s history.

Still profitability in India is years away for Amazon, admits Agarwal, as logistics, payments and other infrastructure needed to address the long-term opportunity are still being built.

He said the $5 billion Bezos had committed (read here) to investing in India was just a signal of intent, and the company was ready to invest significantly more to achieve its goals.

“Our ambition is so big it would be futile for us to think about anything other than to ensure we keep investing to bring the next 100 million customers online,” Agarwal said.

Summary
Review Date
Reviewed Item
Amazon: Double down on Groceries; Foray Deeper into fresh Produce in India
Author Rating
51star1star1star1star1star
Opinion Poll
With assembly election ahead With assembly election ahead, well known Digital Media platform clipper28.com has decided to gauge the mood of Chhattisgarh through its own opinion poll. As an aware voter and stakeholder of the democratic process, kindly do answer the following questions so that prevailing mood of state can be ascertained.
Name
Age
Assembly Segment
Phone Number
Which party will emerge as the single largest party?
Which party will win how many seats?
Whom would you like to see as next Chhattisgarh Chief Minister?
Have you witnessed development work in your area?
Do you think that farmers of Chhattisgarh are satisfied with BJP government?
Do you think youngsters are happy with employment scenario created by Chhattisgarh/state government?
Do you think state government has done enough on issue of women empowerment?
Are you satisfied with work done by your legislator? Have electoral promises been fulfilled or not?
Are you satisfied with the amenities provided by the government in your area?
Do you think the state government has successfully tackled naxal menace?
Are you satisfied with work done by different state Ministers?

Please do vote...

ओपिनियन पोल
छत्तीसगढ़ की आगामी विधानसभा चुनाव के लिए डिजिटल मीडिया ‘clipper28.com’ नेसटीक ओपिनियन पोल करनेका निश्चय किया है. अतः आप नीचे दिए सवालों के निष्पक्ष जवाब देंताकि राज्य की आने वाले दिनों की सही सियासी तस्वीर सामनेआ सके. कृपया अपना मत जरूर दें- With assembly election ahead
नाम
विधानसभा क्षेत्र
आयु
फ़ोन नं
विधानसभा चुनाव में सबसे बड़ी पार्टी कौन सी होगी ?
किस पार्टी को कितनी सीटें मिलेगी?
अगले मुख्यमंत्री के रूप में किसे देखना चाहेंगे?
क्या आपके क्षेत्र में विकास दिखाई पड़ रहा है?
क्या छत्तीसगढ़ का किसान भाजपा शासन से संतुष्ट है?
जो रोजगार छत्तीसगढ़ सरकार ने दिया, क्या उससे युवा वर्ग संतुष्ट है?
राज्य सरकार ने महिलाओं के सशक्तिकरण के लिए जो किया, उससे महिलाएं संतुष्ट हैं?
क्या आप अपने विधायक से संतुष्ट हैं? उन्होंने अपने वादे पूरे किए या अधूरे हैं उनके काम?
क्या आप अपने क्षेत्र की सरकारी सुविधाओं सेसंतुष्ट हैं?
क्या नक्सली समस्या पर नियंत्रण हुआ है?
क्या प्रदेश के मंत्रियों के कामकाज से संतुष्ट हैं?
-देश हित के लिए मतदान अवश्य करें-
Tags

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.