India’s second-largest retail chain, Future Retail, has joined hands with the most prominent e-commerce major Amazon. As per the Chairman of Future Retails, this partnership will bestow both the giants with building their physical and digital space using each other’s strengths. This partnership will also reflect on the best services, products, collections, and prices provided for customers.
According to both the partners, this tie-up is their long term business agreement to extend the area of Future Retail store via Amazon. Future Retails operates 1,500+ stores like Big Bazaar, Fbb, Central, Heritage Fresh, Brand Factory, etc all over India, yet it has not spread online much. With Amazon, it will get a kick-start to widen its market online.
On the other hand, Amazon India will officially become the authorized online purchase and e-commerce channel for Future Retail stores, which will include Big Bazaar and Lifestyle product categories like grocery and departmental. Amazon already started delivering groceries in India.
In addition to this agreement, Future Retail will also list its products on Amazon’s two-hour delivery platform Prime Now, which is presently operated in metro cities like Hyderabad, Mumbai, Delhi, and Bangalore.The duo jointly stated that they would majorly focus on general merchandise, grocery, beauty products, fashion, and apparel.
Future Retail makes over 350 million customers per year. As it is planning to upgrade the present retail outlet’s store infrastructure, the stores will be used for ideal packaging and pick-up of products that are ordered online.
Amazon got the perk of these long-term partnerships from Future Consumers as well. Future Consumer, a part of Future Retail, has agreed for long term business to secure online marketing and business through the Amazon India marketplace.
Technopak Advisor estimated that retails in India would make worth $188 billion business in the coming 3 years, meaning exactly $79 billion higher than the year 2018.
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