The competition for becoming the leader in India’s growing e-commerce market is getting hotter. Currently, the estimated $2-$3 billion Indian online market is teeming with local and domestic contenders vying for the coveted top spot.
Amazon, the world’s largest online retailer, which entered India last year, is being especially watched by market observers as it goes head to head against international rivals, such as eBay, and homegrown competitors, such as Flipkart and Myntra and Snapdeal.
In recent weeks, the competition to grab customer attention – and wallets – seems to have gone up by a few notches, withAmazon, Flipkart, Snapdeal, eBay and Myntra churning out new products and services on a near weekly basis in a bid to out-do each other.
And why not? Research firm Forrester expects India’s online retail spending to grow at a compounded annual growth rate (CAGR) of more than 50 percent over the next five years and reach $16 billion by 2018, an eight-fold increase from 2013.
_Firstbiz_decided to list out the measures adopted by foreign player Amazon since it first entered India in June last year. The US e-tailing giant has steadily unveiled resources to make the online shopping experience more convenient for merchants and customers alike and is believed to have grown leaps and bounds in just under a year.
Take a look at what Amazon India has done so far:
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