Amazon, the world's largest online retailer, which entered India last year only is giving tough competition to other e-commerce giants in India, be it India's home-grown e-commerce store Flipkart, Myntra or Snapdeal or foreign e-commerce store eBay.
In just 1 year Amazon is now selling over 1.5 crore products, within 3 months of it launching in India Amazon India introduced Mobiles & Accessories, Camera & Photography, Portable Media Players stores,Toys & Games, Baby products, Personal Care appliances and Healthcare devices.
India's e-commerce market was worth about $14 billion in 2012, however about 75% of this is travel related. India has close to 10 million online shoppers and is growing at an estimated 30% CAGR (compounded annual growth rate) vis-Ã -vis a global growth rate of 8–10%, this what that makes India a lucrative geographical location to attract e-commerce giants across the globe.
Currently, India's e-commerce market estimated to be $2-$3 billion and Research firm Forrester expects India’s online retail spending to grow at a CAGR of more than 50 percent over the next five years and reach $16 billion by 2018, an eight-fold increase from 2013.
Firstbiz decided to list out the measures adopted by foreign player Amazon since it first entered India in June 2013 and depicted Amazon India story as an Infographic below:
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