Amazon Launches Low-Price Marketplace in India

Meghan Hall
2 min read
1
In this article:

Amazon continues to expand.

The e-commerce giant discreetly introduced an unbranded, low-price marketplace in India called Bazaar. Per an information page from the company, the new store will be “offering a dedicated destination for fashion and home products at affordable prices.”

More from Sourcing Journal

According to TechCrunch, products will range in price from 199 Indian rupees ($2.39) to 600 Indian rupees ($7.21).

The at-large market in India has already begun to heat up. Deloitte projects that the country will soon become the third-largest consumer market in the world.

International Trade Administration (ITA) data shows that the value of the Indian-ecommerce market stood at $46.2 billion in 2020, with online retail accounting for 44 percent of that value. The agency expects that figure to grow to $136.47 billion by 2026, with 49 percent of that value coming from online retail.

As the market grows, it seems Amazon doesn’t want to be left behind. According to the ITA, “Customers in India prefer online purchase channels for categories such as accessories, apparel, footwear, personal care products, household supplies and consumer electronics.”

Amazon Bazaar’s information page states that the new store will focus on exactly those categories.

“You can find items from clothing, accessories, and jewelry to handbags, shoes, traditional and western wear, and a wide array of home goods including kitchenware, towels, bed linens, and décor items,” it reads.

A spokesperson for the company said the new venture has a particular focus on affordability.

“We continue to invest and innovate to serve the diverse needs of our customers in different countries and have launched Amazon Bazaar in our India marketplace to provide customers a place to discover and shop ultra-affordable fashion and home products,” the spokesperson said in a statement.

SaaS firm Semrush’s traffic analytics tool showed that, in January, Amazon.in was the country’s most-visited retail website, followed closely by Walmart-owned Flipkart. But even though Amazon may be capturing consumers’ attention, Flipkart still edges it out in terms of market share; according to Bernstein, the marketplace owned 48 percent of India’s e-commerce market share.

Amazon’s latest play in the Indian market may point to its overall penchant for expansion in India.

According to an X post by Amazon CEO Andy Jassy, the company has plans to invest $26 billion in India by 2030.

Per its 2023 proxy statement for investors, it also has plans to bring 10,000 electric delivery vehicles to the country by 2025 to help with last-mile logistics. In addition, its Q4 2023 earnings reveal that it built a 198-megawatt wind firm in India last year.

Bazaar is currently available on the Android store in India. Amazon did not comment on whether it would expand access to iOS or web browser.

Advertisement

Recommended Stories

  • Microsoft asks some China staff to relocate amid Sino-US tensions

    Washington has been trying to limit Beijing's access to advanced chips used in AI applications on grounds that they can be used to strengthen the country's military, sparking tensions that have put pressure on U.S. companies operating in China. Microsoft is asking about 700 to 800 people who are involved in machine learning and other cloud computing-related work to consider relocating, according to the Wall Street Journal, which first reported the news. Microsoft remains committed to China and will continue to operate there and other markets, the spokesperson said.

  • Deere cuts 2024 profit forecast as falling crop prices squeezes demand

    The world's largest farm equipment maker said it now expects fiscal 2024 net income of about $7 billion, compared with its prior forecast of $7.50 billion to $7.75 billion. The U.S. Department of Agriculture has forecast net farm income to slide 25.5% to $116.1 billion this year from 2023, as corn and soy prices plummeted to more than three-year lows. Higher interest rates have added to the squeeze for farmers, leaving equipment dealers with bloated inventories and forcing companies like Deere and CNH Industrial to cut production.

  • Hedge Funds Pump Up Exposure to Nvidia, Cut AMD

    (Bloomberg) -- Hedge funds continued to lean into the biggest technology companies leading the way in artificial intelligence as the hype propelled the US stock market higher in the first quarter of the year.Most Read from BloombergUS Inflation Data Was Accidentally Released 30 Minutes EarlySlovak Premier Fighting for Life After Assassination AttemptXi Tells Putin China-Russia Ties Should Last ‘Generations’US Inflation Ebbs for First Time in Six Months in Relief for FedChina Considers Government

  • TSMC says can make next generation chips without ASML's new machine

    Taiwanese chipmaker TSMC does not necessarily need to use ASML's next generation "High NA EUV" machines for an upcoming generation of chip manufacturing technology called A16, which is under development for the second half of 2026, an executive said on Tuesday. The High NA lithography tools are expected to help shrink chip designs by up to two-thirds, but chipmakers must weigh that benefit against a higher cost and whether ASML's older tech may be more reliable and good enough. Speaking at a conference in Amsterdam, Kevin Zhang said that it is possible that the company's A16 plants could be designed to accommodate the technology, but that is not certain.

  • Adidas plans cheaper versions of popular shoes like Samba

    Adidas is launching cheaper versions of its three-striped shoes like the white and black suede Samba as it aims to spread the trend, CEO Bjorn Gulden said on Thursday at the company's annual shareholders' meeting in Germany. "It's important to understand that not everyone can afford to buy a shoe for 120 or 150 [dollars], but everyone wants to take part in the same trends," Gulden told investors in a presentation in Furth, near Adidas' headquarters in Herzogenaurach. Adidas will offer similar versions of the Samba and other shoes for $60 to $80, more affordable entry points than the $100 to $150 price tag for the main shoe lines, according to a presentation slide shown by Gulden.

  • Digitalisation of banking creates new risks, says global watchdog

    The digitalisation and entry of Big Tech into finance create new vulnerabilities and amplify existing risks in the banking system that may need new rules to mitigate, global banking regulators said in a report on Thursday. The growth of cloud computing, whereby key banking services are aided by outside tech companies, the rise of AI, use of distributed ledger technology (DLT), and spread of open banking, or external fintechs sharing customer data with banks, create new risks, the Basel Committee of banking regulators said.

  • BYD Debuts First Pickup Truck in Mexico

    Chinese automaker BYD has launched its first pickup truck, debuting a luxury plug-in hybrid in Mexico to compete with global rivals in China’s second-largest market for auto exports.

  • India's Zoho plans $700 million foray into chipmaking

    Indian software firm Zoho is planning a foray into chipmaking and seeking incentives from the federal government, two sources with direct knowledge of the proposal said, with one of them pegging the investment plan at $700 million. Zoho, established in 1996 and now headquartered in India's Tamil Nadu, offers software and related services on subscription to businesses in 150 countries, competing with the likes of Microsoft and Salesforce. It is the latest company to seek financial sweeteners from the government to set up a chip fabrication plant.

  • Zacks Industry Outlook Highlights Trex Company, UFP Industries and Louisiana-Pacific

    Trex Company, UFP Industries and Louisiana-Pacific have been highlighted in this Industry Outlook article.

  • Why Copper Is the Metal of the Moment

    **Copper** is on a tear. A global rush is on to acquire the metal, a key component in everything from electric cars to transmission lines and the data centers that power the AI revolution. That scramble is translating into corporate upheaval.