Amazon. A one-stop shop for all your needs. Any Indian knows that this e-commerce website which came into India just a few years ago knocked the well established and settled players out of the park. We can all tell that Flipkart is bleeding in the battle and lets not even get started on Snapdeal cause Amazon is not even laying flowers on its grave. The company recently even achieved a new milestone when in the first 2 weeks of September it briefly became the second company to reach the market capital of 1 Trillion Dollar! Amazon has never failed to impress and has always been spreading like a wildfire leading with the flames of innovation. Recently Amazon set a new milestone of opening 3000 stores which would be cashiers making Amazon Pay the go-to system for payments and a basic necessity for all taking another step towards a cashless economy. There have even been rumors with no substantial proof that Amazon is even opening up to the Crypto-Market and might even set their own cryptocurrency.
In India, Amazon has already been absolutely KILLING it with their online store and have been making quite a hustle with Amazon Now which is the foreign equivalent of Amazon Pantry. Here’s the great move that they have recently played. In partnership with Samara Capital, they have agreed to buy Aditya Birla Groups chain of a 4th largest grocery store in India “More”. Samara Capital will be holding 51% while Amazon will be holding 49%. Reports also say Goldman Sachs was also in a contest to buy out More also with Samara Capital. Future plans indicate that 100-150 new stores would be opening up per year from now on. This is a huge step towards offline brick and mortar stores by Amazon. A market which was not yet captured by Amazon in India. More is the fourth largest retail store chain after leader Future Groups Big Baazar, then Reliance Fresh and Dmart at third. This will surely be a boost for Amazons Grocery store Amazon Now and we can also see if they do as good as they did on the online business. One might also say Amazon is going to go up against the Reliance group in a very tough market space. Amazon could also win this thing as they are quite famous for their heavy discounts and if they bring the same to these offline stores they have a real shot at climbing the ladder.
For now, we can all sit tight and definitely be a customer watching this play out and wait for, fingers crossed, Amazon take them all out