Amazon India To Launch Online Food Retail Venture By Diwali
Ready to take a big leap with its subsidiary entity, Amazon Retail India, Amazon has decided to invest $500 million in it. The Department of Industrial Policy & Promotion (DIPP) approved their investment proposal for online and offline food retailing in July 2017. The intention of the e-commerce giant is to create a private grocery label in India.
By Diwali, Amazon would be selling packaged foods and groceries online and will also tie up with third-party offline retail outlets as well. Flipkart too had tried to venture again into the online food retail market but the attempt failed. With the presence of Grofers and Bigbasket plus now Amazon entering the market, the supermarkets will have a hard time coping up.
Amazon Pantry currently sells food products that are sourced from online vendors and there is also an option of same day delivery through Amazon Now. Through their upcoming venture the company plans to sell extensively across the cities food products that’ll be sold to the consumers directly.