A new online shopping service website is likely to be open to Indian buyers with the launch of Amazon’s Junglee.com. The biggest online retailer in the world bought Junglee.com around 14 years ago and is set to revive the same with its India launch. For now, it won’t give a tough fight to established bigwigs such as Flipkart or eBay but it will soon after the site builds traction. Amazon is also waiting for the Indian government’s approval on multi-brand retail foreign direct investment which will give them a big boost.
Amit Agarwal, vice-president, Amazon.com, said, “The selection on Junglee includes more than nine million books and three million products from more than 14,000 Indian and global brands. Junglee would be that shopping platform where users can discover and compare products easily without going from one site to another.”
Of course, rival e-commerce sites like Flipkart will watch Amazon’s move very carefully even though other Indian counterparts are not seeing this as a major threat. Amarjit Batra, country head of OLX.in, said, “We are a marketplace for local listings that include real estate to automobiles and Amazon is beginning with just shopping categories. We have not only more services and products for users than Amazon’s Junglee.com but also have an established network of buyers and sellers.” According to Batra, OLX attracts over 10 million users every month.
On the other hand, Flipkart’s CEO Sachin Bansal has surprisingly welcomed the move. "We believe FDI will go a long way in improving efficiency in the supply chain and also invite investment in relevant areas. It will bring down the overall costs in the system, leading to larger benefits for the Indian consumer. As far as the e-commerce sector is concerned, we are already witnessing significant investments in the supply chain and technology and we expect this to get a further boost, going forward” he said.
India has almost 100 million internet users and is a promising marketplace for online retail. New players like Junglee certainly have immense scope for growth despite the competition.