Amazon India to expand Programme for On boarding Local Kiranas and Retailers with Rs 10 Crore Investment
Global e-commerce giants, Amazon is all set to invest Rs 10 Crores under its program named ‘Local shops for Amazon’, which will list local retail shops, electronics, and Kiranas among its sellers. The program will enable the local retailers, who have no online experience to sell their products on the Amazon website.
According to a report published by the Mint, this exercise is an expansion of Amazon’s pilot project that started six months ago with 5000 such stores spread across 100 cities. India is the first country wherein Amazon has experimented on such a project in a bid to be prepared for the post-Coronavirus, E-tail world.
Local stores selling toys, apparel, electronics, home furnishing, and groceries will be the major beneficiaries of the ‘Local Shops for Amazon’ program.
Amazon Founder Jeff Bezos had pledged 1 Billion USD investments in India when he visited the country at the beginning of 2020. However, according to Gopal Pillai – VP of Seller Services for Amazon India clarified that the aforementioned 10 Crore investment is an over the top additional investment proposed by Amazon. According to Pillai, the move has been accelerated due to the eagerness shown by many retail sellers that are looking for online avenues due to the deteriorating COVID-19 situation, and the subsequent lockdown that has been imposed by the government of India.
Amazon India VP Gopal Pillai further added: “The Rs 10 Crore will be committed to expedite on-boarding and training and enablement of these stores to take advantage of this opportunity. Once the lockdown is lifted, this program can bridge the gap for customers who want to maintain social distancing.”
Regarding the program, Amazon said: “The program helps customers discover products from local shops in their city from the convenience of their homes while helping shopkeepers supplement footfalls with a digital presence and expand beyond their normal catchment." While many grocery sellers and other essential sellers are already under the fold of Amazon’s operations, the global retail giants are waiting for government relaxations to roll out the program fully.
Amazon founder Jeff Bezos – the world’s richest man – has added an additional 24 Billion USD to his fortune as Coronavirus related lockdown across the globe as surged demand for e-commerce facilities.
On Tuesday, Forbes magazine reported that Amazon stocks surged 5.3 percent – a record high. It seems amidst the Coronavirus outbreak Jeff Bezos and his Amazon are the biggest beneficiaries.