Ecommerce major Amazon India has introduced a new vertical called ‘Bazaar’ featuring affordable products below Rs 600, including apparel, watches, shoes, jewellery and luggage, according to a media report on Saturday.
This new vertical is live on Amazon India’s Android app and is onboarding diverse Indian companies that offer budget-friendly products.
The report highlighted that Amazon’s goal is to focus on a particular group of customers who prefer purchasing lower- priced products over branded items. The move could probably challenge Meesho’s business strategy, an online shopping platform offering reasonable consumer products from local shops.
Meanwhile, Amazon India was recently in news for its decision to revise the seller fees across various categories and products, with the adjustments set to come into effect from 7 April 2024. These changes are anticipated to impact prices on numerous items available for purchase on the ecommerce platform.
Additionally, the ecommerce giant is also set to introduce changes in referral fees, closing fees and weight handling fees in India starting 7 April. These adjustments are part of a bi-annual process, aimed at ensuring competitive rates that facilitate seller profitability. The revisions take into account various macroeconomic factors such as inflation, interest rates, and operational costs, aligning with prevalent industry fee patterns.
“We continue to invest and innovate on behalf of our customers and third-party sellers and are excited to introduce the Amazon Bazaar storefront on Amazon.in where customers can discover and shop ultra-affordable fashion and home products listed by sellers, especially from manufacturing hubs across India,” the spokesperson said.
