December 24, 2020
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Amazon Seller Services Private Limited, which is Amazon’s e-commerce business in India, reported ₹11,028 crore in revenues for financial year 2019-20, a 42 per cent jump since the last financial year.
The business reported a net loss of ₹5,849 crore during the same fiscal, which is a 3 per cent increase from the last financial year, as per data sourced from Toffler. An intensely competitive market landscape took Amazon’s expenses for the fiscal to ₹16,877 crore.
The e-tailer which started the year with 5.5 lakh sellers in January, added 1.5 lakh sellers and will exit 2020 with over 7 lakh sellers who sell millions of products to customers in India; 50 per cent of these sellers come from Tier 2 and 3 towns.