Ease of Doing Business for MSMEs: From “over 1.1 lakh sellers” in the first 48 hours, the overall sale had “close to 1.2 lakh small and medium sellers” getting an order, according to the company.
Ease of Doing Business for MSMEs: Jeff Bezos Amazon’s India business, which has 6.5 lakh sellers on its marketplace, on Wednesday said that nearly 600 sellers saw over Rs 1 crore in sales while close to 6,500 sellers sold goods worth over Rs 10 lakhs during its nearly month-long Great Indian Festival sale. The sale began at midnight on October 16 with early access for Prime members. Importantly, during the pre-festive lead up for small and medium sellers and first 48 hours of the sale, over 5,000 sellers, according to Amazon, had clocked sales worth Rs 10 lakh. Also, from “over 1.1 lakh sellers” in the first 48 hours, the overall sale had “close to 1.2 lakh small and medium sellers” getting an order, according to the company.
Online sellers’ body All India Online Vendor Association’s spokesperson declined to comment on the sellers’ performance during the sale.
“We added lakhs of direct & indirect jobs and enabled tens of thousands of local stores and service partners across 350 cities who witnessed their most successful business month of the year” Manish Tiwary, Vice President, Amazon India said in a statement. The company claimed that one out of two sellers saw their biggest day of sales during this year event while nearly 74,000 sellers, who got an order, were from smaller cities. The total seller base on Amazon India marketplace had increased from 5.5 lakh to 6.5 lakh in the last nine months, it said in a statement on September 29, 2020.
Amazon’s Great Indian Festival Sale and Flipkart’s The Big Billion Days are the e-commerce sector’s biggest annual sale events that in a way act as a proxy to ascertain their dominance in the sector. According to a RedSeer’s analysis last month or post first sale week (October 15-21) of the festive offerings, Flipkart Group including Myntra acquired 68 per cent of $4.1 billion GMV during the said period. Amazon, on the other hand, having 32 per cent share, called out the results missing “transparent methodology,” as a statement by a spokesperson.
Meanwhile, embroiled in a battle with Future Retail over the sale of its assets to Reliance, Amazon on Wednesday had told the Delhi High Court that the emergency arbitration award against Future Retail by a Singapore arbitrator was a valid order, PTI reported, days after Future Retail, in a regulatory filing, had said that an emergency arbitrator has no legal status under Part I of the Indian Arbitration and Conciliation Act 1996.