Amazon India outpaces Flipkart in fashion segment, banks on global consumers for growth

Amazon India has claimed it outperformed Flipkart in the fashion segment for the October & November period, claiming it was the fasting growing marketplace in the country for 2017, according to a top company official.
 

Amazon’s fashion unit outpaced Flipkart fashion on a standalone basis, excluding Myntra and Jabong also emerging as the largest e-commerce firm in the country in terms of transactions, Amazon's India country head and senior vice president Amit Agarwal told Economic Times citing KANTAR IMRB (marketing firm) data.
 
"We are also exiting 2017 as the fastest growing marketplace. For October-November according to IMRB data on a standalone basis, not including subsidiaries of others, we are the largest fashion marketplace in terms of transactions," said Agarwal.
 
Flipkart along with its subsidiaries Myntra and Jabong had claimed to be the undisputed leader in fashion as it controls 70 percent of the online fashion segment in the country, however on a standalone basis Amazon has claimed superiority offering largest selection of styles and brands to consumers.
 
The Seattle based Amazon is now focusing on its global selling programme to drive the next phase of growth for the company in India. Amazon with its global reach was an early entrant into global selling and currently has over 27,000 sellers who sell their products on the company’s global e-commerce marketplaces.
 
"Last few months these sellers have sold about a few hundred million dollars (of goods) and it is growing more than 100% year over year. If I just did a bit of math, I think that over the next five years India to Global might become bigger than India to India business," Agarwal said.
 
Amazon’s India unit had reported strong revenue growth for the season with sales rising 105 percent to Rs 3,128 crore (approx 485.3 million) for the financial year ended March 2017.
 
Amazon recently infused Rs 2900 (approx ($443 million) in November to consolidate and further expand its market share in India’s fiercely competitive e-commerce market.
 

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