Tuesday, November 12, 2019

Amazon India says Prime day boosted sales, prime membership subscriptions

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Business news author and curator at The Indian Wire.

Amazon India has said that its main product categories saw strong sales growth during the Prime day event and added that it attracted more new members to its subscription programme ‘Amazon Prime’ than in any other week.

Prime Day was held in India along with 15 other countries around the globe for 36 hours on 16 and 17 July. Prime day is an annual event held by Amazon which rewards its Prime-subscribed members with unbeatable deals and access to exclusive new products. This year, more than 100 million products were purchased during the two-day sale across 16 countries including India, and the company managed to touch a record high of $900 billion.

In a statement issued soon after, Amazon India said that while smartphone sales increased five times compared with the sales on a typical day, sales of large appliances jumped nine times and fashion products rose two times. Smartphones, large appliances and fashion are the three largest e-commerce product categories in the Indian e-commerce market today.

Other than that, Amazon India also broke new grounds as more people living in tier 2 and tier 3 cities joined the Prime membership program in the week leading to the Prime Day sale, with 35% of new members belonging to these small towns.

Amazon has also said that it’s Prime Video and Prime Music services were also widely consumed during the sale, stating that the week leading up to Prime Day had the highest number of streamers ever.

Amazon’s major competitor in the Indian Market is homegrown company Flipkart, which was recently acquired by US retailer Walmart through a $16 billion deal, which gives it 77% stake in the company. And while Flipkart has already started planning a loyalty program, mega warehouses and a pharmacy link since the acquisition, Amazon itself has not been shy about its plans to ramp up its investments in India.

Previously, Jeff Bezos, CEO of Amazon.com, Inc. has committed an investment of $5 billion into the Indian market in order to expand its operations in the country and build delivery infrastructure. The company has been infusing funds into its various entities in India, including Amazon Pay, marketplace and wholesale business. All of its current investments are directed towards building warehouses, strengthening logistics and increasing product assortments.


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