ENA Sectors 2024-10-11 16:33:15 <p><span style="font-size:14px"><strong>New Delhi, Oct 11 (KNN)</strong> In a strategic move to enhance seller earnings and offer competitive pricing to customers during the festive season, e-commerce giant Amazon announced on Thursday a significant reduction in selling fees across multiple categories.</span></p> <p><span style="font-size:14px">The cuts, ranging from 3 to 12 percent, will affect popular segments including groceries, fashion, and electronics.</span></p> <p><span style="font-size:14px">Vikram Deshpande, Amazon India's product management director, highlighted the potential impact of this decision on Small and Medium Businesses (SMBs), particularly in Madhya Pradesh.</span></p> <p><span style="font-size:14px"> This will give a huge opportunity to SMB sellers across the country to optimise their operations for the Diwali shopping rush and continue to drive business growth after the festivities, Deshpande stated during a press briefing.</span></p> <p><span style="font-size:14px">The timing of this announcement is crucial, as it coincides with the approaching festive season, traditionally a period of increased consumer spending in India.</span></p> <p><span style="font-size:14px">Amazon expects nearly 62,000 sellers from Madhya Pradesh alone to list their products on the platform this year, reaching customers across all serviceable pin codes in the country.</span></p> <p><span style="font-size:14px">To illustrate the potential for local businesses, Deshpande shared the success story of Alanna, a specialised lip care brand from Bhopal.</span></p> <p><span style="font-size:14px">Founded by Rashi Bael Mehra, Alanna emerged from a personal need and has since grown into India's first brand focused exclusively on specialised lip care. Through its partnership with Amazon, Alanna has expanded its reach both domestically and internationally.</span></p> <p><span style="font-size:14px">This fee reduction is part of Amazon's broader initiative to support and promote SMBs in India. By lowering barriers to entry and providing a platform for growth, Amazon aims to empower local businesses and contribute to the economic development of regions like Madhya Pradesh.</span></p> <p><span style="font-size:14px">As the e-commerce landscape in India continues to evolve, moves like this by major players such as Amazon could potentially reshape the market dynamics, offering new opportunities for smaller businesses while intensifying competition in the online retail space.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39577 https://knnindia.co.in/news/newsdetails/sectors/amazon-slashes-3-12-fees-for-local-sellers-ahead-of-festive-season 2024-10-11 16:33:15 knnindia.co.in