India's new E-commerce FDI norms comes into effect today, February 1st and this will impact Amazon's pricing, product selection, and convenience for both customers and sellers. Amazon's growth has slowed down internationally in the December quarter, comprising of Diwali sales and holiday sales across international markets. The company's International net sales grew by 15% to $20.83 billion during the quarter, as compared to a 29% growth in the year-ago period. The company's international sales had only seen a growth of 13% in the September quarter. However, the company was able to narrow its International losses by 30% to $642 million for the quarter, from $919 million in the corresponding quarter last year. The company forecasts an overall net sales of between $56 billion and $60 billion for the first quarter for India. The company's revenues from its subscription services; the Amazon Prime subscription service, grew by 25% to $3.96 billion while Amazon's "other" category, that includes its advertising business, increased by 95% to $3.4 billion. With the new FDI norms, Amazon has also started removing a range of products including its Echo range of smart speakers and its private label products ranging from batteries, electronic accessories, travel accessories, and apparel among others from its India marketplace that ...
Friday 1 February 2019
Amazon India pulls products from Cloudtail, Appario as new FDI norms come into effect
India's new E-commerce FDI norms comes into effect today, February 1st and this will impact Amazon's pricing, product selection, and convenience for both customers and sellers. Amazon's growth has slowed down internationally in the December quarter, comprising of Diwali sales and holiday sales across international markets. The company's International net sales grew by 15% to $20.83 billion during the quarter, as compared to a 29% growth in the year-ago period. The company's international sales had only seen a growth of 13% in the September quarter. However, the company was able to narrow its International losses by 30% to $642 million for the quarter, from $919 million in the corresponding quarter last year. The company forecasts an overall net sales of between $56 billion and $60 billion for the first quarter for India. The company's revenues from its subscription services; the Amazon Prime subscription service, grew by 25% to $3.96 billion while Amazon's "other" category, that includes its advertising business, increased by 95% to $3.4 billion. With the new FDI norms, Amazon has also started removing a range of products including its Echo range of smart speakers and its private label products ranging from batteries, electronic accessories, travel accessories, and apparel among others from its India marketplace that ...
