SUMMARY
This offer will be applicable to sellers, who register on Amazon India between August 28 to October 26 and also launch their businesses within 90 days of registration
Selling fee is computed as a percentage of the cumulative sales price that is paid by the purchaser
The latest development comes at a time when the festive season is approaching in India. As per a report, online sales are likely to grow by 28% year-on-year to $11.8 Bn in the coming festive season
Ecommerce giant Amazon India has waived 50% selling fees of its new sellers that have recently joined the platform.
According to the ET report, the offer will be applicable to sellers, who register on the ecommerce platform (Amazon India) between August 28 to October 26 this year and also launch their businesses within 90 days of registration.
A selling fee is one of the charges imposed on sellers for selling their products on the ecommerce marketplace. It is computed as a percentage of the cumulative sales price that is paid by the purchaser.
“We have 1Mn+ sellers from India who will have the opportunity to showcase their products to customers across the country during the festive season. We hope that this festive season will bring growth and success to all our sellers and that we continue to offer our customers the widest selection, convenience, and fast delivery for them to look forward to celebrating this festive season from the comfort and safety of their homes,” Vivek Somareddy, director, fulfillment channels of Amazon India, said.
The latest development comes at a time when the festive season is approaching in India.
According to a report, online sales are likely to grow by 28% year-on-year to $11.8 Bn in the coming festive season. It was further estimated that online sales will reach up to $5.9 Bn in the first week of the festive season, as compared to $4.8 Bn raised in 2021.
During the last year’s festive season that occurred in the fourth quarter of 2021, Amazon reported sales of $137.4 Bn, up by 9% year-on-year as compared to the corresponding quarter of the previous year (2020). During the said festive sales, a total of 30K registered sellers and brand partners on the ecommerce platform recorded sales worth over $100K, as per Amazon’s earning report 2021.
On the other hand, the latest move is suggestive of Amazon’s efforts to understand the cultural nuances of India and meanwhile, abide by the Indian government.
As an example to put here, a few days ago, Amazon India announced that it had taken down products (from its platform) that can disable car seatbelt alarms. The move has been taken after transport minister Nitin Gadkari highlighted the issue to the tech colossal.
Amazon further stated that the ecommerce platform would take stringent actions against sellers that would breach Indian laws and sell unsafe products on the platform.
In August, Amazon attended a parliamentary meeting along with other tech behemoths. In the meeting, they conferred with the Indian government on various issues relating to the anti-competitive practices carried out by tech players in the online digital space.
In the June quarter, the tech giant posted a loss of $1.7 Bn in its international business, as compared to a profit of $362 Mn recorded in the corresponding quarter last year (2021). It recorded its net sales at $27 Bn, down by 12% YoY.
