BackAmazon India’s festival season sales top record $100,000 in 2021
Amazon.com Inc reported a sharp rise in its net profit for the quarter ended December and for calendar year 2021, bolstered by a near 22% increase in its net sales
PremiumAmazon India clocked its highest-ever festival season sales in 2021 with almost 30,000 sellers and brand partners selling merchandise worth more than $100,000 in its month-long ‘Great Indian Festival’ event, according to Amazon.com Inc.’s earnings report for calendar year 2021.
Amazon.com Inc., the world’s largest e-commerce retailer, on Thursday reported a sharp rise in its net profit for the quarter ended December and for calendar year 2021, bolstered by a near 22% increase in its net sales. The company did not give a country-wise breakup of its sales, but its international sales for the year surged more than 22%, according to its filing. Amazon.com Inc.’s results come a month after Amazon Seller Services Pvt. Ltd reported a robust increase in its sales for 2020-21 (FY21), which helped the company narrow its losses. Amazon Seller Services, which runs Amazon’s India marketplace, reported a near 50% rise in FY21 sales to ₹16,200 crore. The company’s losses narrowed to ₹4,748 crore from ₹5,849 crore a year earlier, according to the filing with the ministry of corporate affairs.
Amazon India’s strong revenue growth reflects the rapid adoption of e-commerce in India and the penetration of it in tier-II and lower cities since the coronavirus outbreak. The country recorded its highest-ever festival sales in 2021 of $9 billion in October. Other e-commerce companies, too, reported strong growth in FY21 sales. Flipkart-owned Myntra Designs Pvt. Ltd reported a 44% rise in revenue for FY21. It halved loss for FY21 to ₹429 crore compared to FY20.
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