The e-commerce behemoth Amazon is gearing up to introduce a budget-friendly fashion and lifestyle segment named 'Bazaar' in the Indian market.
As per reports from TechCrunch, Amazon has communicated to its partners about the impending launch of 'Bazaar,' a specialized store dedicated to unbranded and trendy fashion and lifestyle products. Notably, this new vertical promises vendors freedom from additional charges.
In its communication, Amazon assured vendors that their products would receive prominent placement within the Bazaar store, enhancing visibility for customers. Moreover, all items showcased on Bazaar will be competitively priced, with a ceiling of Rs 600.
Highlighting the benefits for sellers, Amazon emphasized that Bazaar would grant them access to a vast customer base, facilitate hassle-free delivery, and impose zero referral fees.
Meanwhile, Amazon reported a notable surge in net sales for the holiday quarter ending on December 31, 2023, reaching $170 billion, up by 14% from the same period in 2022, which stood at $149.2 billion. CEO Andy Jassy hailed the holiday season as "record-breaking."
The company's net income also witnessed a significant rise, soaring to $10.6 billion in the fourth quarter of 2023, compared to $0.3 billion in the corresponding period of 2022. Additionally, the Amazon Web Services (AWS) segment experienced a 13% year-over-year increase in sales, reaching $24.2 billion.
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