Amazon India is gaining traction in one of the world's biggest markets and has now overtaken both Flipkart and Snapdeal, taking it to the top of the e-commerce tree in terms of unique visitors. It has also reportedly broken US$1 billion in sales in a single month.
The online giant only launched in India two years ago, but it is soon to be a cornerstone of the company's aggressive expansion. Asia's third-largest economy is set to provide rich pickings and company boss Jeff Bezos predicts it will make a significant difference to Amazon's global profits and is busy creating fulfilment houses across India to cope with demand.
Analytics firm comScore Data revealed that Amazon India received 23.6 million unique visitors in May, which represents a 142% increase year-on-year. Flipkart received 23.5 million unique visitors and Snapdeal received 17.9 million. That means Amazon has finally hit the number one spot in the e-commerce battle in one of the most lucrative markets in the world.
Last May, Flipkart was the most popular e-commerce site in India by far, with 13 million unique visitors. Amazon and Snapdeal were locked on 10 million unique visitors apiece, but Jeff Bezos' juggnernaut just kept on going and Amazon India has slowly taken control of the e-commerce market in one of the most hotly contested and growing markets.
Gross merchandise value (GMV), a measure of the actual sale, is another important indicator and Flipkart, which is still India's most valuable e-commerce company, for the moment, expects a GMV of $5.1 billion. Amazon India does not make its GMV information public, but with 25 million products for sales and monthly sales reportedly reaching $1 billion on a regular basis, it is almost certainly going to be the biggest online retailer in India before long.
India's e-commerce market is expected to grow to $18 billion, according to research firm eMarketer, and could even top $32 billion by 2020. Amazon is set to reap the rewards with a hefty slice of this burgeoning market and with the company's aggressive expansion into home services and other markets, the sky's the limit.