Amazon Business Growth: 111% CAGR in 6 Years

Bhopal, Sep 17 (PTI) Customer base of Amazon Business has expanded at a compounded annual growth rate of 111 per cent in the country in the last six years, a top company official said on Tuesday.

Director of Amazon Business Mitranjan Bhaduri told reporters here that 65 per cent of overall orders on Amazon Business are now received through mobile phones.

The customer base of the platform (Amazon Business) across India has increased at a CAGR of 111 per cent in the last six years, Bhaduri said.

Amazon Business, the B2B online wholesale market started in 2017, is completing seven years in India, he said..

Bhaduri said that Amazon Business has witnessed significant growth outside metro areas, particularly in Bhopal, where it has seen a 2.4-times year-over-year (YoY) increase in new customers.

He said that a study reveals strong consumer enthusiasm for online festive shopping.

In the study, 89 per cent of respondents expressed their excitement for the upcoming festivities with 71 per cent indicating that they intend to shop online, he said.

Nearly 50 per cent of respondents said they intend to shop online and they would spend more on online festive shopping compared to last year, he claimed.