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Amazon Announces Great Indian Sale, to Offer Deep Discounts

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Amazon (AMZN - Free Report) recently announced that its Great Indian Sale will start from Jan 20 and continue til Jan 23. Prime members can have early access starting Jan 19.

The sale promises to offer deep discounts on 170 million items under product categories like consumer electronics, large appliances, daily essentials, fitness and sports to name a few.

Amazon's Aggressive Push into India

Amazon’s efforts to strengthen its business in India are likely to be driven by aggressive retail strategies including the Great Indian Sale. This time the company will feature another segment, Amazon Saheli, which is aimed at motivating women entrepreneurs in India. The segment will showcase office stationery and grocery items among others.

Notably, the last Great Indian Sale was held in three phases, with first two phases recording 70% more sales than 2017.

Per reports, India's e-commerce market is expected to reach $200 billion by 2026 from $38.5 billion in 2017, reflecting significant growth opportunities for the likes of Amazon and Walmart (WMT - Free Report) backed Flipkart. Notably, per Quartz, during the shopping festivals hosted by e-commerce giants Amazon and Flipkart in 2018, Indian buyers spent $2 billion, up 37% year over year.

Amazon is ramping up its efforts to benefit from India’s growing e-commerce space. The company rolled out its website in Hindi – the most widely spoken regional language in the country. Additionally, the company acquired 49% stake in Aditya Birla Retail owned More to boost its market share in the grocery retail market of India.

The company also rolled out a new service called Prime Reading in India in a bid to strengthen its presence in the e-commerce space of the country. Moreover, the tech-giant also invested in five new fulfillment centers in India in a bid to improve delivery network in 2018.

Currently, Amazon’s total investment in its division in India stands at roughly $5 billion.

Amazon.com, Inc. Price and Consensus

Amazon.com, Inc. Price and Consensus | Amazon.com, Inc. Quote

Global Initiatives to Drive Growth

Amazon continues to ramp up its efforts to expand worldwide, which is expected to help it in sustaining leadership position in the e-commerce market.

In the last reported quarter, Amazon expanded its grocery services, which include delivery as well as pick-up services for natural and organic products. The service is currently available in more than 60 U.S. cities.

The company also unveiled Prime Book Box, a subscription service aimed at instilling the habit of reading story books among children. Additionally, Amazon expanded its global footprint by making Prime available to individuals in Canada and Mexico.

Moreover, Amazon also announced the expansion of its Amazon Music Unlimited service in Canada, which offers access to millions of songs on the Amazon Music app for iOS and Android, as well as on all Echo devices. Notably, the move has strengthened the company’s presence in Canada and aided the global expansion of Amazon Music.

Furthermore, expansions are strengthening Amazon’s competitive position against its global rivals — Walmart, eBay (EBAY - Free Report) and Alibaba (BABA - Free Report) .

Currently, Amazon carries a Zacks Rank #3 (Hold).  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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