Sales of online retailers have surpassed the pre-lockdown altitudes in terms of dimensions enhanced by grocery and essential commodity demand-buying. Global stock value for the industries associated with e-commerce has also improved to how it was in the pre-pandemic period.
While the vendor sign-up rate has gone up by 50% due to Covid-19, more than twice as many customers signed up for the Prime membership which comes with benefits like -discounted rates, free and express delivery – during the sale this year compared to the last year. Over 65% of new members came from outside of their top ten customer oriented cities.
The stay-at-home delivery of Amazon are proving as a tough competition to old-fashioned physical shop rivals.
Ever since its commencement in 1994, Amazon.com has developed from a minor online bookseller to one of the biggest online retail seller. It’s now an omnipresent part of the Global business scenario. The e-commerce website which previously proposed a threat to small business owners has now proved to be a boon to SMEs.
With Indian Government implementing positive policies for the Small scale businesses- reported exclusively by the Indian Wire – Amazon intends to invest more than $15 billion this year to help third-party sellers grow through the Amazon platform.
Amazon reported that more than 1,000 local shops owners from over 100 cities from different parts of India participated in the Prime Day for the first time and witnessed a 2x growth in excess of normal day-to-day sales.
Almost 50% of Amazon’s annual sales are channelled through small business activities. These commercial firms are benefitted with increased sales and promotions on social media which helps boost their visibility through online marketing.
pandemic by investing that additional cost into one-day delivery and safety of the men delivering the packages.
“Normally, the company might generate $4 billion in operating profit in the current quarter but these aren’t normal circumstances. Instead, we expect to spend the entirety of that $4 billion, and perhaps a bit more, on COVID-related expenses getting products to customers and keeping our employees safe.” Said Jeff Bezos- Amazon CEO.
A hefty share of the money will be used up on hiring workers and huge portion will be remunerating for protective kits and regular tests for their workers.
According to data from Annual Stock Exchange, the monthly Gross Merchandise Value of Amazon and other e-commerce sectors in India crossed the pre-lockdown figures of around $30 billion during January 2020 to $36.5 billion in June-July alone.
The portion of Amazon’s GMV was 40 % of end user internet sector’s around $75 billion in January, which had declined to 35 % of sector’s $10 billion GMV in April in arrears to Covid-19 but scaled back to 73 % in June 2020 owing to ease of Lockdown.
Kaun Banega Crorepati? A question worth Million bucks in Indian Households can now be answered by creating a start-up or setting up an e-commerce business on Amazon B2B Prime Services.
Kritika is a News Reporter and Creative Content Writer at The Indian Wire. An ambitious Student with curious nature towards learning. Also, an inspiring Teacher in the field of Accountancy, Economics, Mathematics and Commerce.
The Indian Wire