Amazon is preparing to enter India’s fast-growing fashion and lifestyle ecommerce sector with the launch of a digital store called Bazaar. It will offer sellers access to tens of millions of customers, delivery, and levy zero referral fees. The items sold through Bazaar will be priced under 600 Indian rupees, or USD 7.2, and will be featured in a special section, making them easy for customers to find.
Research company Bernstein noted that the fast-fashion ecommerce space has gained ground in India recently as local startups take inspiration from global fast-fashion pioneers Zara, H&M, and Uniqlo. Top player Flipkart leads the category but faces mounting competition from Ajio, which has amassed about 30% market share.
Bazaar is one of the key new initiatives from Amazon, which has deployed over USD 7 billion in India, following the firm shutting down three of its businesses — wholesale distribution, food delivery and online learning — in India in late 2022.
The company announced in 2023 that it would invest about USD 2.3 billion in its ecommerce operations in the country by 2030. At the same time, Amazon is doubling down on AWS in India and plans to deploy USD 2.7 billion in the cloud business in the country by 2030.
In January 2024, SellersFi and Amazon Lending have formed a partnership to offer financial solutions to ecommerce sellers. Through this collaboration, eligible Amazon sellers will have access to capital to expand their businesses. SellersFi will leverage its expertise in financial solutions, while Amazon Lending will provide access to credit lines of up to USD 10 million. This initiative aims to empower sellers to optimise their store development and growth by providing them with secure and efficient access to broader lines of credit.
In the same month, Amazon has collaborated with Mexico-based Kueski Pay to introduce ‘Pago en Quincenas,’ a payment option enabling users to split their purchases into biweekly payments. This initiative aims to enhance affordability for Amazon shoppers. Initially available to select customers, it will be extended to all eligible users in the near future. First-time Kueski Pay users need to complete a simple application during Amazon checkout for credit approval. Subsequent purchases can be made with this payment method without additional information, encouraging repeat usage.
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