Ecommerce company Amazon has rolled out Bazaar on its India Android app. It began recruiting sellers for the new store in February 2024, offering sellers delivery services, zero referral fees, and access to a vast customer base.
Amazon describes the store as a platform where people can find items from clothing, accessories, and jewellery to handbags, shoes, traditional and western wear, and a wide array of home goods including kitchenware, towels, bed linens, and décor items.
Brokerage firm Bernstein emphasises the rising demand for budget-friendly fast-fashion on Indian shopping platforms, underscoring the significance for Amazon to fortify its presence in a segment where it has historically faced challenges.
India remains a pivotal market for Amazon, with investments exceeding USD 11 billion thus far. Despite AWS maintaining its dominant position, Amazon's ecommerce division trails behind Flipkart in market share.
In 2023, executives form Amazon announced plans to invest USD 12.7 billion in AWS in India by 2030, while also committing over USD 2 billion to the ecommerce division during the same period.
The fast-fashion ecommerce sector has witnessed notable growth in India lately, with startups drawing inspiration from international trendsetters like Zara, H&M, and Uniqlo. While Flipkart, owner of fashion platform Myntra, currently leads the segment, it faces escalating competition from Reliance's Ajio, which has swiftly garnered around 30% market share within a year, according to Bernstein.
Ajio introduced its own fast-fashion platform, Ajio Street, in 2023, offering a diverse range of apparel and accessories priced as low as 199 Indian rupees (USD 2.4), with a commitment to the 'lowest price' guarantee, free delivery, and hassle-free returns.
In 2023, Shein, a global frontrunner in the sector previously banned in India, announced plans for a comeback through a collaboration with Reliance.
Reliance, a conglomerate spanning oil to telecom, operates Reliance Retail, among the country's largest retail chains.
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