Ease of doing business for MSMEs: 4.75 lakh MSME buyers participated on Amazon’s business-to-business wholesale e-commerce portal Amazon Business in India during its month-long Great Indian Festival 2022, the company said on Thursday. Also, over 44 per cent increase was recorded in new MSMEs who created a business account with Amazon Business during the festive sale in comparison to the year-ago sale event. Moreover, over 6,000 sellers received their first-ever B2B order on Amazon during the sale. The Great Indian Festival sale this year went live on September 23.
“Small and medium businesses, startups, artisans, and women entrepreneurs offered a wide selection of products to our customers across India. We are delighted by the increase in new Prime member sign-ups and sellers joining us this festive season, especially from tier 2-3 cities,” said Manish Tiwary, Country Manager – India Consumer Business, Amazon India in a statement.
On the other hand, the B2C marketplace Amazon.in saw over 35,000 sellers registering their highest-ever single-day sales while over 650 sellers became crorepatis and 23,000 sellers turned lakhpatis during the sale. Importantly, more than 70 per cent of sellers came from Tier II and III towns. Amazon said more than 4,000 sellers recorded sales growth of 5X and more while home, apparel, beauty and kitchen categories were the popular categories for SMBs.
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Amazon released its festive numbers days after consultancy firm RedSeer came out with e-commerce market performance statistics during the first week (September 22 – September 30) of the festive sales. According to the RedSeer report, Flipkart group continued to lead the market with around 62 per cent share on gross merchandise value (total value of items sold) basis in comparison to Amazon’s 26 per cent. In terms of order volume as well, Flipkart led the market while Meesho emerged second largest, capturing around 21 per cent of the market.
Amazon, however, had called the sales numbers by RedSeer “speculative which lacks transparency”, while the consulting firm defended it as an independent research, PTI reported. Flipkart and Amazon have been battling each other for nearly past decade to lead the e-commerce market in India which is expected to become $165 billion in size by 2025 from an estimated $99.44 billion in 2022, according to the data from database company Statista.