Join NairaWay / Login / Trending / Recent / New
Stats: 228 members, 2,770 topics. Date: May 23, 2018, 11:07 pm
NAIRAWAY Forum / Webmasters / Amazon wins right to sell food and groceries in India (1 Post | 123 Views)
Amazon wins right to sell food and groceries in India by nairaway(m) : 3:04 pm On Jul 13, 2017
Online retail giant Amazon has secured approval to stock and sell food and groceries in India, potentially expanding its business in the fast-growing economy where it is in a pitched battle with home-grown rival Flipkart.
Amazon confirmed winning government approval for its plan to sell food products, but it declined to provide further details.
Separately, a source familiar with the matter said Amazon planned to invest $500 million in the food segment, over and above the $5 billion it had already committed to investing in India.
Cheaper smartphones, increasing internet penetration and steep discounts have led to a surge in domestic online shopping for everything from gadgets to clothes and food items in India.
Still, mom-and-pop stores account for the biggest share of grocery sales, offering organized players huge growth potential.
Currently Amazon offers food products in India via Amazon Pantry, where retailers including joint venture Cloudtail sell various products. It also offers same-day grocery delivery on its Amazon Now app through a tie-up with Indian retailers Big Bazaar, Star Bazaar and Hypercity.
Amazon did not comment on whether its new investments would affect any of its existing tie-ups, or its Cloudtail joint venture.
Venture-funded Flipkart, whose backers include Tiger Global, Tencent Holdings and Microsoft, also plans to move into the groceries space, company executives have said.
Amazon last month announced plans to buy upscale U.S. grocer Whole Foods Market Inc for $13.7 billion.
HOW TO EARN $1 EVERY 2 MINUTES OR $55 DAILY ONLINE
CLICK HERE TO GET FREE TUTORIALS ON MAKING FREE CALLS, WATCHING DSTV FREE ETC
HOW TO MAKE N100,000 T0 N500,000 MONTHLY
LEARN HOW TO MAKE N250,000 MONTHLY ONLINE IN NIGERIA
How to Make Huge money From Expired Domain name click http://cashnaira.com
CLICK HERE TO DRIVE UP TO 20,000 REAL NIGERIAN TRAFFIC DAILY TO YOUR SITE
A NEW INTERNET COMMUNITY IS LAUNCHED! CHECK IN AND ENJOY FREE LESSONS
FREE GUIDE! BROWSE FREE, MAKE FREE CALLS, MAKE MONEY ONLINE ETC
CLICK HERE TO EARN $45 – $100 DAILY ONLINE WITH YOUR FACEBOOK ACCOUNT
Viewing this topic: 1 guest viewing this topic
|NAIRAWAY - Copyright © 2016 Oluwasegun Adebayo. All rights reserved. Follow NairaWay on Facebook|
Disclaimer: Every NAIRAWAY member is solely responsible for anything that he/she posts or uploads on NAIRAWAY.