India: Amazon, Future Group ink deal

Thursday 16 October 2014 00:04 CET | News

Amazon has struck a deal with Future Group, an Indian retail chain, whereby Future Group will sell its 40 apparel brands via Amazon’s ecommerce platform.

Future Group owns retail chains including Big Bazaar, Brand Factory and Home Town, reports. As a result of the partnership, both parties will create an omni-channel approach for customers.

The ecommerce market in India is expected to witness a 330% growth until 2020, reaching USD 43 billion, according to the ‘India internet’ report issued by the company conglomerate Nomura.

The Indian electronic commerce segment is expected to expand from USD 39 million in 2014, to USD 128 million in 2018, according to findings from the research agency Forrester. This explosive growth can be associated with the increase in the use of internet on mobile devices. Out of 206 million users, 50% are mobile internet users who cause a 40% -50% surge in mobile transactions.

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Keywords: Amazon, Future Group, India, retail chain, mobile transactions
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce