Amazon Fashion, the fashion arm of Amazon India is the largest and fastest growing marketplace in India currently even as one out of every three new customers on Amazon starts their shopping with fashion category, Mayank Shivam, Director of Category Management at Amazon Fashion told Financial Express Online.
“We are the largest growing market place in India right now. We continue to be the fastest growing., said Shivam in an interview to Financial Express Online, adding that it is among Amazon’s largest categories and also the fastest in terms of acquiring new customers for Amazon India “with one out of every three new customers start their shopping journey with fashion.”
Amazon Fashion claimed of having “the largest inventory (of products) with over 84 million units” that has grown by 55 million units in its current season of wardrobe refresh sale from December 2018, the company said.
Mayank, however, declined to comment on Amazon Fashion’s market share in India’s online fashion market and growth rate. “There are third-party reports that have been published earlier, this is not something we internally claim,” he said.
As per an IMRB study, Amazon Fashion recorded the highest order share in terms of the standalone marketplace during 2017 festive season. The study captured 32,000 people in 200 cities.
Mayank also declined to comment on competition as Amazon Fashion competes with Flipkart Fashion, Myntra, and Jabong primarily. “We don’t spend much time on (looking at) the competition. It is not that we don’t care but it is clear that India is a large country (in terms of opportunity) and we are just getting started online. Everything else is a distraction,” he said.
Amazon Fashion, according to the company, witnessed ‘exponential’ growth in terms of adding 22,000 new sellers and close to 2 million ‘styles’ this year to overall 86,000 sellers and over 8.7 million styles out of which more than 1.3 million styles are Prime enabled.
For 2018, Amazon’s overall online retail market share stood at 31.2 per cent behind Flipkart’s (excluding Myntra and Jabong) 31.9 per cent. Myntra stood at 4.7 per cent while Jabong had 1.7 per cent market share, as per a Forrester report on the online retail market published in May this year.
“As Myntra remains the preferred destination for online fashion buyers, fashion is the category that is preventing Amazon from taking over Flipkart in terms of market share,” the report said.
For its recently concluded fifth edition of wardrobe refresh sale, Amazon Fashion offered more than 3 lakh styles from 1,200 Indian and international brands.