Amazon is venturing into the Indian fast-fashion market
Amazon plans to maintain a strong dominance in India's fast-fashion market with the introduction of Bazaar.
Amazon has just launched a special store called Bazaar that will offer affordable and trendy fashion and lifestyle products to its customers as it seeks to rival competitors such as Flipkart and Ajio in the Indian fast-fashion market.
The e-commerce giant began recruiting new sellers for the store this February and has made the store available on its India Android app. The company has confirmed that buyers can find items like clothing, accessories, shoes, handbags, jewelry, and kitchenware.
The Indian fashion e-commerce market was valued at $14 billion in 2023 and is anticipated to reach $18.76 billion by 2030, according to a report from GlobeNewswire. It also accounts for 18.5% of the country's total e-commerce market, according to ECDB. Given its rapid growth, Amazon has had to come up with this new development, similar to others in the past, to maintain a strong influence in the market.
Ironically, despite Amazon's massive investments in the country's e-commerce market, it still does not have the largest market share (26%). That position goes to Flipkart, which owns Myntra and has a 48% market share, according to data obtained from the research firm Redseer Strategy.
