New Delhi: E-commerce giant Amazon is poised to launch a low-priced fashion and lifestyle vertical called 'Bazaar' in India, as per reports. According to a communication sent by the company to its partners, the new vertical, Bazaar, is a special store where no "extra charges" will be imposed on vendors supplying unbranded and "trendy" fashion and lifestyle products, reports TechCrunch.


COMMERCIAL BREAK
SCROLL TO CONTINUE READING

"In the communication, the company wrote, 'Your products will be featured in a special store on Amazon, making them easy for customers to find.' The items sold via Bazaar will be priced under Rs 600, as noted in the report. (Also Read: Bank Of India Launches Festive Offer On Farm Mechanization, Krishi Vahaan Schemes – Check Loan Coverage, Offer Validity)


Additionally, the e-commerce giant mentioned in the communication that Bazaar will offer sellers access to tens of millions of customers, 'hassle-free' delivery, and levy zero referral fees.


Meanwhile, net sales for Amazon increased by 14 per cent to $170 billion in the holiday quarter that ended on December 31, 2023, compared with $149.2 billion in the fourth quarter of 2022. (Also Read: Indian Equity Markets Forge Ahead: Sensex Surges 85 Points, Nifty Breaches 22,200 Mark At Opening Bell)


Amazon CEO Andy Jassy stated that the past holiday season was 'record-breaking.' Net income increased to $10.6 billion in the fourth quarter of 2023, compared with $0.3 billion in the fourth quarter of 2022. Amazon Web Services (AWS) segment sales increased by 13 per cent year-over-year to $24.2 billion.