Submission Statement: Amazon.com Inc. said its India quick delivery service is set to hit annual sales of more than $1 billion, intensifying competition with homegrown firms such as market leader Eternal Ltd.’s Blinkit. Orders of the Amazon Now service have doubled each quarter since the US company started it in India a year ago, it said Tuesday in a statement. It has now crossed $1 billion in annualized gross revenue, meaning it’s on pace to reach that amount for a 12-month period.
Instant commerce is gathering extraordinary pace in India, fueled by surging demand, rising competition and billions of dollars in global investor capital. US retail giants and Indian startups have blanketed the nation’s cities with small, hyperlocal warehouses and delivery riders promising groceries, electronics, and even gold coins in just a few minutes. India’s e-commerce market is set to almost triple to $250 billion by 2030, with rapid deliveries driving the growth, according to a report by Alphabet Inc.’s Google and Deloitte earlier this year.
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Clarification : It’s about their 10 minute delivery service called Amazon Now. In this segment they aren’t even in top 3. It’s a tough area and market leader Blinkit is only now making even.