More than half of the items sold through Amazon now come from third-party sellers. It's appropriate, then, that it's a big one.
E-commerce is fast growing in India. Analysts estimated the service had collected more than 90 million subscribers previous year, though it will come as a surprise to very few that this number has been superseded.
The data was listed in Amazon's annual proxy statement filed with the U.S. Securities and Exchange Commission, which also featured pay for top executives including Bezos who received $1.68 million in compensation for 2017.
Amazon shows no signs of slowing down with impressive sales figures and a lineup of new products coming out this year. The perks of being a Prime member includes exclusive access to music, videos, Kindle books and the six-month subscription to Washington Post.
Amazon started the program 13 years ago when an engineer named Charlie Ward pitched the idea through a company employee-suggestion box. With its new emerging products such as Appstore, Amazon Echo, Amazon Kindle, Amazon Prime, Amazon Video, Amazon music much needed in the developing internet world, Amazon withholds a strong place in the competitive retail market in the United States of America and many developed and developing countries. At present, India is said to have around 60 Mn online music service users.
The fees and the benefits that are offered by the Amazon Prime Service varies worldwide. It's about trying to be a one-stop shop for everything under the sun, which is what may be pulling in more subscribers at the end of the day. Amazon has more than 100 million paid Prime members around the world. Later in October 2017, Amazon's AI enabled virtual assistant Alexa-powered wireless voice-controlled speaker, Echo, entered the Indian market for select customers.
Why is India a huge opportunity for Amazon?
Amazon has been increasing its investment in India to take on home grown rival Flipkart.
The company website has been the most visited site on both desktop and mobile and one of the highest numbers of orders were placed.