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Union Commerce Minister Piyush Goyal has questioned American e-commerce giant Amazon’s business practices in India and asked the audience if it smelled like predatory pricing

News Wrap | Asian Markets Slip, Sensex & Nifty Up, Piyush Goyal Slams Amazon | August 21, 2024

Union Commerce Minister Piyush Goyal has questioned American e-commerce giant Amazon&rsquo;s business practices in India and asked the audience if it smelled like predatory pricing

Let&rsquo;s start with Asian markets. Most markets in the region ended the day lower due to weak cues from Wall Street. Japan&rsquo;s Nikkei and China&rsquo;s Shanghai Composite were down almost three-tenths of a percent, while Hong Kong&rsquo;s Hang Seng closed with a loss of nearly a percent. ((INDIAN MARKETS)) Back home, Indian equities, which had started the day in the red, managed to close marginally higher. The Sensex ended the day above 80,900, and the Nifty was just shy of 24,800. Of the fifty stocks on Nifty, 37 gained in today&rsquo;s session, 12 declined, while one remained unchanged. Pharma major Divis Lab was the star of the day&rsquo;s trade, gaining almost four percent. Tech Mahindra was the key laggard, down almost a percent and a half after a brokerage downgrade. ((PIYUSH GOYAL)) The big story from the policy space: Union Commerce Minister Piyush Goyal has questioned American e-commerce giant Amazon&rsquo;s business practices in India. Speaking at the release of a report on the impact of e-commerce, Goyal referred to Amazon&rsquo;s losses in India and asked the audience if it smelled like predatory pricing. He said, &ldquo;When Amazon says we are going to invest a billion dollars in India and we all celebrate, we forget the underlying story that the billion dollars are not coming in for any great service or any great investment to support the Indian economy. They made a billion-dollar loss in their balance sheet that year. They have to fill in that loss. And how did that loss get caused?&rdquo;. ((ZOFF FOODS)) In the startup space, JM Financial Private Equity has invested 40 crore rupees in Asquare Foods and Beverages, the parent company of the direct-to-consumer spice brand Zoff. Announcing the investment, the PE firm said that it expects Zoff to emerge as one of the leading spice brands in the future. The spice maker plans to use the fresh capital to strengthen brand-building efforts, enhance production capacities, and bolster offline distribution network. ((TOTO IN INDIA)) And before we wrap up, here&rsquo;s one piece of news for those of you who are fascinated with Japan&rsquo;s TOTO toilets &ndash; the Japanese sanitaryware maker is looking to strengthen its presence in India's Tier two and Tier three cities. TOTO India, which has completed a decade of manufacturing a range of products at its Halol plant in Gujarat, plans to expand its distribution network by adding 40 new channel partners in 2024.

Amazon India has announced the Prime Day Sale 2024 on July 20th and 21st, featuring massive discounts and new launches. Check out the top deals on smartphones, gadgets, and other tech appliances from Samsung, OnePlus, Oppo, Realme and more. 

Amazon Prime Day Sale 2024: Top deals on iPhone, Samsung, OnePlus, Honor smartphones, laptops, and more 

<h2>Amazon India has announced the Prime Day Sale 2024 on July 20th and 21st, featuring massive discounts and new launches. Check out the top deals on smartphones, gadgets, and other tech appliances from Samsung, OnePlus, Oppo, Realme and more.&nbsp;</h2>

Amazon India has announced the upcoming Prime Day Sale 2024, set to take place on July 20th and 21st. The two-day event will feature a variety of new launches, blockbuster entertainment, and significant discounts.
Here's all you need to know about the Amazon Prime Day Sale 2024, including the top Prime Day deals to expect on smartphones, gadgets, and other tech appliances.&nbsp;
<h3>Amazon Prime Day Sale 2024- Details&nbsp;</h3>
The Prime Day Sale 2024 will commence at 12:00 AM on July 20th and will continue until 11:59 PM on July 21st. This annual event is exclusively available for Amazon Prime members in India. Prime members can access the sale through the Amazon India website and mobile app. The event promises fantastic deals across various categories, including smartphones, consumer electronics, TVs, appliances, and more. &nbsp;
<h3>Amazon Prime Day Sale 2024 Deals&nbsp;</h3>
Amazon India is gearing up for Prime Day 2024, offering substantial discounts and deals on a wide range of smartphones. Prime members can expect discounts on popular brands, including Samsung, OnePlus, iQOO, Xiaomi, Realme, Poco, Honor, Motorola, Lava, Tecno, Nokia, Vivo, and Oppo. The deals will include no-cost EMI options, exchange offers, and additional bank discounts.&nbsp;
One of the biggest highlights of Prime Day Sale 2024 is the deal on the iPhone 13. The iPhone 13 will be available at an unbeatable price of Rs 47,999, including bank offers. This deal makes it one of the most attractive offers during the sale, providing significant savings on a high-demand product.&nbsp;
<h3>Amazon Prime Day Sale 2024 Top Smartphone Deals Details&nbsp;</h3>
Samsung:&nbsp;
<ul>
<li>Samsung Galaxy S23 Ultra 5G: Available at Rs 74,999, including coupon discount and bank offers, with a 12-month no-cost EMI option.&nbsp;</li>
<li>Samsung Galaxy S21 FE 5G: Priced at Rs 26,999, including bank offer, with a 6-month no-cost EMI option.&nbsp;</li>
<li>Samsung Galaxy M35 5G: Launching on July 17, with exciting offers during Prime Day 2024.&nbsp;</li>
</ul>
OnePlus: &nbsp;
<ul>
<li>OnePlus 12 5G: Available at Rs 52,999, including bank offer, with up to 12 months of no-cost EMI and an additional Rs 12,000 off via exchange on select devices.&nbsp;</li>
<li>OnePlus Nord CE 4 Lite 5G (Ultra Orange) and OnePlus 12R (Sunset Dune): New variants available with instant bank discount of up to Rs 20,000 and no-cost EMI of up to 12 months.&nbsp;</li>
</ul>
iQOO: &nbsp;
<ul>
<li>iQOO Neo 9 Pro: Available at Rs 29,999, including bank offer, with an additional Rs 2,000 off via exchange.&nbsp;</li>
<li>iQOO Z9 Lite 5G and iQOO Z9x 5G: Starting at Rs 9,999, with instant bank discounts of up to Rs 3,000 and no-cost EMI offers for up to 9 months.&nbsp;</li>
</ul>
Xiaomi: &nbsp;
<ul>
<li>Redmi 12 5G: Available at Rs 11,499, including coupon offer.&nbsp;</li>
<li>Redmi 13 5G: Launching in Orchid Pink, starting at Rs 12,999, including all offers.&nbsp;</li>
<li>Xiaomi smartphones: Starting at Rs 7,699, with instant bank discounts up to Rs 8,000 and no-cost EMI offers for up to 18 months.&nbsp;</li>
</ul>
Realme:&nbsp;
<ul>
<li>Realme Narzo 70x: Available at Rs 11,749 after applying bank offers and coupon discounts.&nbsp;</li>
<li>Realme Narzo 70 Pro: Available at Rs 15,249, including bank discount and coupon offer.&nbsp;</li>
<li>Realme smartphones: Starting at Rs 7,499, with instant bank discounts up to Rs 1,000 and coupon offers worth up to Rs 4,000.&nbsp;</li>
</ul>
Poco:&nbsp;
<ul>
<li>Poco X6 5G: Available for Rs 17,999, including bank offer.&nbsp;</li>
<li>Poco M6 5G: Available at Rs 8,299 after applying bank discount.&nbsp;</li>
</ul>
Honor:&nbsp;
<ul>
<li>Honor X9b: Available at Rs 17,999, including bank discount and coupon offer.&nbsp;</li>
<li>Honor 200 5G series: Launching on July 18 and available during Prime Day 2024.&nbsp;</li>
</ul>
Motorola:&nbsp;
<ul>
<li>Motorola razr 50 Ultra: Starting at Rs 89,999, including bank offers and up to 18 months of no-cost EMI.&nbsp;</li>
<li>Motorola razr 40 series: Starting at Rs 39,999, including bank discount and no-cost EMI offers up to 9 months.&nbsp;</li>
</ul>
Lava:&nbsp;
<ul>
<li>Lava Blaze X 5G: Starting at Rs 13,999, including bank offers.&nbsp;</li>
</ul>
Tecno:&nbsp;
<ul>
<li>Tecno Spark 20 Pro: Available at Rs 13,999 after applying all offers.&nbsp;</li>
</ul>
Nokia:&nbsp;
<ul>
<li>Nokia G42 5G: Available at Rs 8,199, with the 6GB variant at Rs 9,999, including all offers.&nbsp;</li>
</ul>
Vivo:&nbsp;
<ul>
<li>vivo Y28s 5G: Starting at Rs 13,249, including bank offers.&nbsp;</li>
<li>vivo X Fold3 Pro 5G: Starting at Rs 1,44,999, including bank discount with an additional Rs 10,000 off on exchange and up to 24 months of no-cost EMI.&nbsp;</li>
<li>Oppo:&nbsp;</li>
<li>Oppo F27 Pro+ 5G: Starting at Rs 26,499, including bank offer and up to 6 months of no-cost EMI.&nbsp;</li>
<li>Oppo A3 Pro 5G: Available at Rs 16,799, including bank offers.&nbsp;</li>
</ul>
<h3>Additional Deals on Gadgets and Tech Appliances&nbsp;</h3>
During the Prime Day Sale 2024, customers can also avail themselves of significant discounts on laptops, tablets, headphones, cameras, and other tech accessories. Highlights include up to 45% off on laptops, up to 75% off on headphones and monitors, and up to 60% off on tablets and speakers.&nbsp;
<h3>Prime Day Deals on Laptops and Gadgets&nbsp;</h3>
<ul>
<li>Dell XPS and Inspiron AI laptops: New launches during Prime Day.&nbsp;</li>
<li>HP Victus gaming laptops: Available with RTX 3050a graphics card.&nbsp;</li>
<li>OnePlus Watch 2R and OnePlus Pad 2: New launches during Prime Day.&nbsp;</li>
<li>Sony Bravia 3 4K Televisions: Premium launches in larger screen sizes.&nbsp;</li>
<li>Hisense U7N QLED Mini LED TVs: Launching in 55-inch and 65-inch sizes.&nbsp;</li>
</ul>
The Prime Day Sale 2024 promises these exciting deals and new launches across a wide range of gadgets and smartphones and more. Additionally, Prime members can look forward to significant savings and exclusive offers on some of the latest tech products. &nbsp;
Also watch: <a href="https://www.editorji.com/tech-news/mobiles/sennheiser-launches-momentum-sport-earbuds-for-fitness-enthusiasts-price-availability-details-here-1721145512394">Sennheiser launches Momentum Sport earbuds for fitness enthusiasts; Price &amp; availability details here</a>

NHRC has issued a notice to Amazon India regarding alleged anti-labour practices at its Manesar warehouse, including denial of restroom facilities and forced work without breaks. NHRC demands a detailed report from the Union Ministry of Labour and Employment

Human rights commission issues notice to Centre over anti-labour practices in Amazon's Manesar warehouse

NHRC has issued a notice to  Centre regarding alleged anti-labour practices at Amazon India's Manesar warehouse, including denial of restroom facilities and forced work without breaks. NHRC demands a detailed report from the Union Ministry of Labour and Employment

<h2>NHRC has issued a notice to&nbsp; Centre regarding alleged anti-labour practices at Amazon India's Manesar warehouse, including denial of restroom facilities and forced work without breaks</h2>

The National Human Rights Commission has issued a notice to Centre over alleged &ldquo;anti-labour practices&rdquo; at Amazon India's Manesar warehouse. The commission took suo motu cognisance of a media report that stated that at one of Amazon India&rsquo;s warehouses "a 24-year-old worker was asked to pledge that they would not take toilet or water breaks until they finished unloading packages from six trucks, each measuring 24 feet long, after their team's 30-minute tea break had ended".
<h3>Notice to Centre over Amazon India</h3>
As per Business Today, the Commission stated that if the contents of the report are true then this tantamounts to serious human rights violation of the workers as well as violation of labour laws and guidelines by the Union Ministry of Labour and Employment.
In the proceedings of the case shared by NHRC, it said "a female employee at the Manesar warehouse reportedly stated that no restroom facilities are available on the working sites.&rdquo;
Meanwhile, an Amazon India spokesperson had told Business Today that the safety and well-being of the employees are its top priority.&nbsp;
&ldquo;The safety and wellbeing of our employees and associates is our top priority. We&rsquo;re confident the infrastructure and facilities at our fulfilment centres are industry leading, designed to ensure a safe and comfortable working environment for our employees and associates&rdquo;, Amazon India Spokesperson told Business Today.
&nbsp;The Spokesperson further added that the firm has heat index monitoring devices and that the company constantly monitors changes in temperature, especially during the summer months. If the heat or humidity inside the buildings increase, then they take action to provide comfortable working conditions, including temporarily suspending work. &ldquo;We have cooling measures in all our buildings, including ventilation systems, fans, and spot coolers," the spokesperson added.&nbsp;
The Human rights commission has however highlighted that even if the workers work continuously without breaks, including the 30-minute lunch and tea breaks, they would not be able to unload more than four trucks a day.&nbsp;
NHRC further highlighted that five warehouses in and around Manesar are accused of violating regulations outlined in the Factories Act, 1948. The commission has also issued a notice to the Secretary of Union Ministry of Labour and Employment, and has sought a detailed report within a week.
Also watch:&nbsp;<a href="https://www.editorji.com/amp/business-news/amazon-fresh-expands-footprint-in-over-130-cities-in-india-1718713476109"> Amazon Fresh expands footprint in over 130 cities in India</a>

Amazon Fresh expands to over 130 cities, offering a wide range of groceries and essentials. The service features a user-friendly app-in-app experience with personalized widgets, a buy-again option, and reminders to enhance shopping convenience

Amazon Fresh expands footprint in over 130 cities in India

<h2>Amazon Fresh expands to over 130 cities, offering a wide range of groceries and essentials. The service features a user-friendly app-in-app experience with personalized widgets, a buy-again option, and reminders to enhance shopping convenience</h2>

Amazon India announced on Tuesday the expansion of its comprehensive grocery service, Amazon Fresh, to more than 130 cities across the country. New locations include Ambala, Aurangabad, Hoshiarpur, Dharwad, Una, and Suri, among others. This expansion aims to cater to a wider customer base by providing a diverse selection of groceries and everyday essentials.
<h3>Amazon Fresh expands footprints</h3>
Amazon Fresh offers an extensive range of wet and dry groceries, including fresh fruits, vegetables, and chilled products. In addition, the service encompasses beauty items, baby products, personal care items, and pet supplies. This broad selection ensures that customers can find all their essential items in one convenient place.
The shopping experience on Amazon Fresh is designed to be seamless and user-friendly. The service is available through a dedicated app-in-app feature on Amazon.in. This feature includes personalized widgets, a "buy-again" option, and reminders to help customers remember frequently purchased items during checkout. These tools aim to make the shopping process more efficient and tailored to individual customer needs.
Srikant Sree Ram, Director of Amazon Fresh India, highlighted the transformative impact of Amazon Fresh on grocery shopping in India. "Amazon Fresh is reshaping grocery shopping in India," he said, emphasizing the service's role in providing a convenient and comprehensive shopping solution for customers across the country.
Also Watch: <a href="https://www.editorji.com/business-news/amazon-set-to-launch-bazaar-for-unbranded-fashion-and-lifestyle-products-1708495641399">Amazon set to launch 'Bazaar' for unbranded fashion and lifestyle products</a>

While the exact number of impacted roles has not been announced yet, the impacted roles include those from Sales, marketing and tech departments.

Amazon Layoffs 2024: Several hundred roles reduced in Amazon's Web Services arm

While the exact number of impacted roles has not been announced yet, the impacted roles include those from Sales, marketing and tech departments.

In a fresh round of layoffs, Amazon has laid off hundreds of employees from its Web Sevices arm. Sales, marketing and tech roles are majorly impacted by this round of layoffs.
A company spokesperson as quoted by Reuters said, "We've identified a few targeted areas of the organization we need to streamline,"&nbsp;
Earlier, Amazon laid off several hundreds of employees in its Prime Video and MGM Studios segment. In an internal memo sent to Amazon employees the reason for the reduction stated that it is to reduce or discontinue investments in certain areas while increasing investment and focus on content that delivers the most impact.
Aligning with the industry trend of mass layoffs in the tech sector, In 2022 and 2023 Amazon cut a total of 27,000 jobs as reported by the layoff tracking website Layoffs.fyi
The exact number of employees affected by this round of layoff has not been disclosed yet.&nbsp; Also Watch: <a href="https://www.editorji.com/business-news/layoff-wave-2024-google-amazon-implement-massive-workforce-reductions-1704961162043">Layoff wave 2024: Google, Amazon implement massive workforce reductions</a>
&nbsp;

Amazon has decided against providing base pay increases to numerous senior employees this year, citing a notable increase in the company's stock price. 

Amazon holds base pay increases for senior employees amid stock surge: Report

Amazon has decided against providing base pay increases to numerous senior employees this year, citing a notable increase in the company's stock price.&nbsp;

Amazon has reportedly made the decision not to give base pay increases to many senior employees this year, citing a significant surge in the company's stock price. The decision comes as Amazon's stock prices have risen by over 75% in the past year, leading to a substantial increase in overall compensation for many employees due to their stock holdings.
Internal guidelines distributed to managers outline the rationale behind the decision, instructing them to address employee inquiries by highlighting the impact of the stock price surge on total compensation. According to these guidelines, many employees' compensation now exceeds the predefined pay range for their positions, primarily due to the increase in stock prices, reported Business Insider.
Earlier this year, Amazon faced criticism for its stringent return-to-office policy, with reports suggesting that employees failing to comply could see lower performance ratings and blocked promotions.
Some employees raised concerns that the policy was part of a larger strategy to encourage voluntary departures, thereby helping the company cut costs without resorting to outright terminations.
Responding to these allegations, an Amazon spokesperson reiterated the importance of compliance with company guidelines and policies in determining employees' readiness for promotion. They emphasized that promotions are one of the many ways Amazon supports employees' growth and development, as reported by Business Insider.
&nbsp;

Amazon Bazaar has begun onboarding sellers and is asking them to list unbranded products priced below Rs 600. The products include apparel, watches, shoes, jewellery and luggage

Amazon set to launch 'Bazaar' for unbranded fashion and lifestyle products

<h2>Amazon Bazaar has begun onboarding sellers and is asking them to list unbranded products priced below Rs 600. The products include apparel, watches, shoes, jewellery and luggage</h2>

In a bid to woo Indian value customer, Amazon is launching a new vertical called Amazon Bazaar featuring low-priced, unbranded fashion and lifestyle products, reported The Economic Times. This comes, as demand for mass market products weakens and Amazon's growth loses pace.
<h3>Amazon's Bazaar</h3>
As per the Economic Times, Amazon Bazaar has begun onboarding sellers and is asking them to list unbranded products &mdash; including apparel, watches, shoes, jewellery and luggage &mdash; priced below Rs 600.
&ldquo;Bazaar is a new store on Amazon where you can sell your fashion and lifestyle products online at no extra charges, thus making it more profitable to run your business,&rdquo; a document from Amazon to sellers said&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/amazon-prime-day-sales-slip-retail-industry-falling-behind-report-1697536944186">Amazon Prime Day Sales slip, retail industry falling behind: Report</a>
The report further mentioned that the delivery timelines for Amazon Bazaar products will likely be two to three days. This will be a deviation from its fast delivery proposition offered to prime members.&nbsp;
&ldquo;Consumer cohorts at the lower end of the market typically do not prioritise faster deliveries&hellip;They (Amazon India) have lost out on the segment so far and essentially want to tap the typical Meesho customer,&rdquo; a source told The Economic Times.
Currently, Meesho has been successful in the segment, while Walmart-owned Flipkart&rsquo;s Shopsy (through a separate app) is the other major player in the space. Mukesh Ambani-led Reliance Industries is also working on a low-price platform, Ajio Street.
<h3>Price Set up</h3>
The Economic Times report also said, that the US e-commerce giant is proposing a zero referral fee to merchants, which is key for products with low average selling price (ASP). Meesho&rsquo;s ASP is Rs 300-350 and it operates on a zero commission model while earning revenue from advertising and offering logistics services to sellers.
While Meesho doesn't operate its own warehouses, Amazon and Flipkart have their own storage spaces.&nbsp;
&ldquo;Meesho has snapped up market share from Amazon in certain segments like fashion, homecare and others. For Amazon to acquire these users at low ASP segments, they would want to offer a similar product to merchants and consumers,&rdquo; Satish Meena, an independent ecommerce analyst and advisor at Datum Intelligence told The Economic Times. &ldquo;Amazon Fashion is not like Myntra&hellip; They never got it right in India and this would be another attempt.&rdquo;
Meanwhile a January report from research firm Bernstein said Amazon India clocked only 13% user growth in December 2023 &mdash; primarily due to more premium offerings than peers. Flipkart and Meesho acquired 21% and 32% more users, respectively, in the period, according to the report.
&nbsp;
&nbsp;

Launched in 2022, Buy with Prime extends the membership’s perks to third-party merchants selling and shipping goods on other sites

Amazon Layoffs 2024: Amazon cuts 5% jobs in its 'Buy with Prime' team

<h2>Launched in 2022, Buy with Prime extends the membership&rsquo;s perks to third-party merchants selling and shipping goods on other sites</h2>

After laying off several hundred employees in its streaming and studio operations last week, Amazon has announced a workforce reduction of less than 5% in its Buy with Prime unit.
Launched in 2022, Buy with Prime extends the membership&rsquo;s perks to third-party merchants selling and shipping goods on other sites.&nbsp;
According to Engadget reports, the recent decision to reduce a small percentage of staff resulted from a routine assessment of the company's operational needs. Although the exact number of affected employees was not disclosed, an insider source indicated to Engadget that approximately 30 individuals were impacted by the layoffs.
The report further highlight that the "Buy with Prime" initiative remains a high priority, highlighting its widespread adoption by merchants and positive customer feedback. Despite the reduction in workforce, the company reassured its commitment to allocating substantial resources to enhance and expand the "Buy with Prime" program, capitalizing on its current success.
This announcement follows a series of job cuts at Amazon, totaling more than 27,000 since late 2022.&nbsp;

The demand surge during the Black Friday Cyber Monday event on Amazon global selling is driven by countries of North America, Europe and Middle East

Indian exporters see 80% business growth in Amazon's Black Friday Cyber Monday

<h2>The demand surge during the Black Friday Cyber Monday event on Amazon global selling is driven by countries of North America, Europe and Middle East</h2>

Indian exporters saw a big spike in sales of more than 80%, during the Black Friday and Cyber Monday sale days on Amazon Global Selling (an e-commerce exports program that enables Indian exporters to register and sell on 18 Amazon global marketplaces).&nbsp; The Black Friday and Cyber Monday event is an 11 day period starting from October 20. Black Friday is a shopping holiday that falls on the Friday after Thanksgiving. Cyber Monday is a shopping holiday that falls on the Monday after Thanksgiving.
Business also grew 25% as compared to the same period last year.
<h3>Amazon Global Selling</h3>
As per The Economic Times the BFCM sale is known to be a key sales period for Indian exporters and the BFCM&rsquo;23 shopping event generated a spike in business for many exporters on Amazon Global Selling.
Exporters from tier 2 and 3 cities also exhibited strong numbers with Tamil Nadu's Karur seeing over 100% growth YOY, Gujarat's Junagadh nearly 100% YoY, Erode in Tamil Nadu saw over 50% YoY and Jaipur over 30% YoY.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/india-s-e-commerce-to-exceed-160-billion-by-2028-bain-flipkart-report-1702442487991">India's e-commerce industry to exceed $160 billion by 2028: Bain-Flipkart report</a>
Indian products ranging from beauty to kitchen items saw huge demand. Items from the beauty category saw over 80% growth YOY, Health and Personal Care nearly 50% YOY, Grocery over 30% YOY. Home and Kitchen items saw nearly 30% YOY. The demand was seen from North America, Europe and Middle East.
Bhupen Wakankar, Director, Global Trade, Amazon India, said in a statement: "Our focus remains on enabling businesses of all sizes across India to leverage Amazon&rsquo;s logistics and infrastructure to cater to customers across the world. We are humbled to play a role in taking their &lsquo;Made in India&rsquo; products global as we continue to work towards our pledge of enabling $20 billion in cumulative exports from India by 2025.&rdquo;
<h3>Amazon SEND</h3>
Amazon recently launched SEND - an Amazon partnered carrier program to enable more businesses to leverage ecommerce exports and sell globally during the holiday season and to simplify international shipping for Indian exporters.&nbsp;
Amazon had also slashed the subscription fee for new Indian exporters joining its Amazon Global Selling program for the first three months from $120 ($39.99 per month) to just $1

Policy was introduced in February, requiring employees to return to the office at least three days a week starting in May.

Amazon denies promotions to those not returning to office three days a week

<h2>Policy was introduced in February, requiring employees to return to the office at least three days a week starting in May.</h2>

Amazon has implemented a policy where employees who do not comply with the work-from-office directives may face obstacles in receiving promotions.
The e-commerce giant stated that non-compliant employees will require vice-president approval for promotions. According to Business Insider, Amazon communicated internally, emphasizing that managers play a crucial role in the promotion process, supporting employee growth through regular discussions and assignments.
Also read| watch - <a title="RBI strengthens regulations on personal loans for banks and NBFCs" href="https://www.editorji.com/business-news/markets/rbi-strengthens-regulations-on-personal-loans-for-banks-and-nbfcs-1700144975394">RBI strengthens regulations on personal loans for banks and NBFCs</a> &nbsp; If an employee, whose role requires working from the office three or more days a week, is not in compliance, VP approval becomes necessary. This policy was introduced in February, requiring employees to return to the office at least three days a week starting in May.
Despite protests and petitions from employees in March and May, Amazon CEO Andy Jassy reaffirmed the return-to-office policy in August, emphasizing the importance of aligning with the company's direction. &nbsp;

The programme that was initiated to help Amazon employees to have a career transition was suspended in 2022, after a period of remarkable growth and transformation for the company

'Pay to quit' Program: Here's why Amazon is paying employees to leave their jobs

<h2>The programme that was initiated to help Amazon employees to have a career transition was suspended in 2022, after a period of remarkable growth and transformation for the company</h2>

Amazon's program:&nbsp;Amazon CEO Jeff Bezos, known for his innovative leadership qualities, especially in career development believes in empowering employees to pursue their career aspirations, even beyond the company. In an yet another proof to this ideology, Amazon in an exchange filing has mentioned that, the e-commerce giant had introduced Pay to Quit program within its fulfillment centres, offering employees a financial incentive to leave the company.
<h3>Pay to Quit</h3>
Bezos in a 2014 letter to investors has mentioned the birth of the program while emphasising the need for Amazon employees to reflect on their career goals.
"The goal is to encourage folks to take a moment and think about what they really want. In the long run, an employee staying somewhere they don't want to be isn't healthy for the employee or the company," the letter read.
Also Read: <a href="https://www.editorji.com/business-news/amazon-employee-loses-rs-1-6-cr-worth-stock-for-forfeiting-work-from-office-mandate-1699255024701">Amazon employee loses Rs 1.6 cr worth stock for forfeiting Work from Office mandate</a>
The programmes was started to encourage employees to consider their career paths. The offer provided financial assistance to those employees who wished to change career paths. It also ensured that those who stayed are genuinely committed to their roles and the company's vision.
The programm that started with $2,000 a year saw an increase of $1,000 every year and has reached a cap of $5,000. This attractive offer also came with the tagline, "Please Don't Take This Offer," signifying Amazon's preference for employees to stay with the company.
<h3>Career Choice Initiative</h3>
Along with 'Pay to quit', Bezos has also introduced Career Choice Initiative. Through this intiative, Amazon has sponsored 95% of tuition fees for courses in high-demand fields. Fields that are irrelevant to Amazon like nursing and aircraft mechanics were also funded.&nbsp; As per Business Today, the intention was to foster choice and facilitate personal growth, recognising that for some, Amazon might have served as a stepping stone to diverse career paths.
In 2022, Amazon decided to suspend the Pay to Quit program. This however came&nbsp;after a period of remarkable growth and transformation for the company, including dealing with the surge in global e-commerce and labour shortages caused by the pandemic.&nbsp;

While an Amazon employee had forfeited $203,000 worth restricted stock units as the company mandated work from office, the e-commerce giant has mentioned that a single anecdote could not characterise a company of Amazon's size

Amazon employee loses Rs 1.6 cr worth stock for forfeiting Work from Office mandate

<h2>While an Amazon employee had forfeited $203,000 worth restricted stock units as the company mandated work from office, the e-commerce giant has mentioned that a single anecdote could not characterise a company of Amazon's size</h2>

Work From Office:&nbsp;An Amazon employee tendered resignation after the e-commerce giant mandated empooyees to work from office. The employee who was hired as a remote worker has quit instead of returning to office, forfeiting restricted stock units worth $203,000 (Rs 1.6 crore approx).
<h3>Return to office mandate:</h3>
The employee had told Insider that the company in May had informed them that they would be required to work from Seattle office for three days a week beginning June. As per the employee, they were "blindsided" by the decision and felt that it was a betrayal of the company's original promise to allow them to work remotely indefinitely.
Also Read: <a href="https://www.editorji.com/business-news/it-companies-push-employees-to-return-to-office-five-days-in-a-week-1696320483144">IT companies push employees to return to office five days in a week</a>
The employee who had just both a house in a remote location was devastated with the company mandate.
"I was devastated," the employee said. "I had just bought a house in a remote location and was finally able to live the life I had always dreamed of. I couldn't believe that Amazon was going to take that away from me."
The employee also mentioned that they tried negotiating with Amazon. However, the talks bore nothing as the company was not ready to budge.&nbsp;
"After being shuffled around through five company re-organizations within the last year, I ended up reporting to a manager who insisted I needed to work in person in Seattle by June 1, despite my most recent promotion designating mine as a remote role," the ex Amazon executive wrote.
The employee's queries of relocation package also went unanswered. All of this pushed him to resign which entailed giving up $203,000 in unvested stock.
An unvested stock is stock set aside for an employee but that he/she has not yet fully owned due to the fact that certain conditions (e.g. performance targets or length of employment) haven't been met yet in a vesting period.
While he has found a new role in another company with the same pay, the share values can't compete with Amazon's stock options.&nbsp;
<h3>Amazon's Take</h3>
Meanwhile, Amazon's spokesperson Brad Glasser told Insider via email that they couldn't confirm the employee's story and further added that "a single anecdote could not characterise a company of Amazon's size."
"We've repeatedly made our position clear: In February, we shared with employees that we'd be asking them to start coming into the office three or more days per week beginning in May because we believe it would yield the best long-term results for our customers, business, and culture. As part of this process, we've asked a relatively small percentage of our team to relocate to be in the same location as their teams. This isn't a one-size-fit-all approach, so team hubs and relocation timelines will vary based on a number of factors, and we're communicating with employees individually and providing relocation support. As is the case with any of our policies, we expect our team to follow them and will take appropriate action if someone chooses not to do that", Glasser added.
Amazon which has been vocal about returning to office had also said that &nbsp;it is willing to be flexible with employees who have extenuating circumstances.

Explore the best smartphones under ₹20,000 during the Amazon Extra Happiness Days sale. Don't miss OnePlus Nord deals, Redmi 12 5G discount, Realme Narzo 60x 5G sale, and more. Amazon sale ending soon; grab these limited time phone deals now!

Top smartphone deals: Amazon Extra Happiness Days Sale – Huge discounts on OnePlus, Redmi, Realme & more

<h2>During Amazon's Extra Happiness Days sale, seize unbeatable smartphone offers on OnePlus Nord, Redmi 12 5G, and Realme Narzo 60x 5G. Experience massive savings and snag a premium phone for under ₹20,000.</h2>

The Amazon Extra Happiness Days sale is in full swing, heralding some of the best deals for those on the lookout for top-tier smartphones without burning a hole in their pocket.&nbsp;
Particularly, if you've set your sights on snagging the best smartphones under ₹20,000 on Amazon, this is the moment. Let's take a closer look at these much-anticipated offers and ensure you don't miss out on these limited-time phone deals.
<h3>Amazon Extra Happiness Days top deals: Best Smartphone Choices</h3>
Here's some of the best smartphone deals you can currently find during the Amazon Extra Happiness Days sale:
<h3>Realme Narzo 60x 5G Sale</h3>
The Realme Narzo 60X 5G, earlier priced at Rs 14,499, is now listed for Rs 12,999. Featuring a MediaTek Dimensity 6100 Plus processor, it ensures an efficient and smooth user experience, making it one of the notable smartphone deals in the Amazon sale.
<h3>OnePlus Nord Deals</h3>
The OnePlus Nord CE 3 Lite 5G, originally priced at Rs 19,999, is now available for just Rs 19,498. This OnePlus offering comes with a 6.72-inch (120Hz) FHD+ display and a 108MP primary camera. It's driven by the Qualcomm Snapdragon 695 5G processor, assuring seamless performance.
<h3>Samsung Galaxy M14 Offers</h3>
The Samsung Galaxy M14 5G, with its original tag of Rs 14,990, now stands reduced to Rs 10,490. This Samsung marvel offers a 6.6-inch FHD+ display and is powered by the Exynos 1330 octa-core processor.
<h3>Redmi 12 5G Discount</h3>
Previously available for Rs 12,499, the Redmi 12 5G can now be yours for Rs 10,999. This budget-friendly device provides a 6.79-inch (90Hz) FHD+ display and boasts a Qualcomm Snapdragon 4 Gen 2 processor at its heart.
<h3>iQOO Z7s 5G Price Drop</h3>
Originally available for Rs 18,989, the gaming-centric iQOO Z7s 5G now beckons at Rs 15,499. This mid-range powerhouse boasts a Qualcomm Snapdragon 695 5G processor and a 6.38-inch FHD+ AMOLED display.
<h3>Wrap Up: Amazon Sale Ending Soon</h3>
The Amazon Extra Happiness Days sale is a treasure trove for those seeking best phone discounts. However, remember that these price cut offers are fleeting. Make sure to act swiftly and benefit from the limited time phone deals before they vanish.
Also Watch: <a href="https://www.editorji.com/tech-news/mobiles/amazon-rolls-out-passkey-support-for-easier-and-safer-passwordless-sign-in-1698128584316">Amazon rolls out Passkey support for easier and safer passwordless sign-In</a>

Amazon Return to Office Policy 2023: E-commerce giant Amazon has asked managers to now effectively fire those employees who violate company policy ‘3-days-a-week’ return-to-office rule.

Amazon Return to Office Policy 2023: Managers can fire employees who violate the company policy

The manager will have to hold two meetings with the employee reinforcing the 3 days work from office policy before engaging a human resource person who might give a written warning that might conclude in the employment termination

Amazon's Return to Office Policy: Managers can fire employees who won't come to the office 3 times a week

<h2>The manager will have to hold two meetings with the employee reinforcing the 3 days work from office policy before engaging a human resource person who might give a written warning that might conclude in the employment termination</h2>

Amazon's Return to Office Policy 2023: Amazon has given a free hand to managers to fire employees who do not come to the office three times a week, reported Insider. As per the report, this is part of the updated global manager guidance on Amazon's return-to-office policy.
<h3>Amazon's Return to Office Policy 2023</h3>
Amazon has mandated a strict 3-day work-from-office policy that was announced in February. This instruction to the managers is the strongest measure taken by Amazon so far, as per Business Insider. However, the guidance that was shared to the managers do not allow them to sack employees immediately. A three step process is described in the policy
<h3>Amazon's Return to Office Policy: 3 Step Process</h3>
Step 1: Managers have to hold personal meetings with the employees who do not comply with the three days work from office policy. The discussion should be documented in a follow-up email by the manager.
Step 2: The manager should hold another meeting if the non-compliance continues within a reasonable time frame. As per the guidance, this meet should reinforce that the 3 days work from office is a requirement and than non-compliance without legitimate reason may lead to disciplinary action leading to termination
Step 3: The final step is to engage a human resource person who might give a written warning or other actions which might conclude in termination of employment.

Amazon which is using a local, on-site version of Microsoft Office products is planning to integrate Microsoft's cloud-based 365 productivity suit in early November

Amazon likely to become Microsoft's client in a $1-billion deal: Report

<h2>Amazon which is using a local, on-site version of Microsoft Office products is planning to integrate Microsoft's cloud-based 365 productivity suit in early November</h2>

Microsoft-Amazon:&nbsp;In a landmark $1 billion deal, Microsoft is set to welcome Amazon.com as a significant client. Microsoft will be giving cloud-based 365 productivity suit to Amazon, reported Business Insider.&nbsp;
<h3>$1 billion Deal</h3>
As per the report, Amazon has committed a hefty sum for a time frame extending beyond five years and that the firm intends to acquire more than a million licences for Microsoft 365. Amazon which is using a local, on-site version of Microsoft Office products is planning to integrate these new systems in early November.
This also coincides with Microsoft's release of an upgraded 365 suite with new AI capabilities. As per the report the full shift for Amazon's personnel is scheduled for early 2024. As implementing such a big deal necessitates substantial planning and allocation of cloud resources, the publication that teams within Microsoft's Office and security groups are already ramping up operations to meet the rise in demand.
Earlier, Amazon refused to get the clod version of Microsoft's 365 offerings, citing apprehension about storing data on a competitor's cloud platform, reported Business Insider.

While Amazon brought in an estimated $144.53 in average spending per customer for the retailer, amounting to a 2% increase from last year’s tally, other retailers with similar discounts saw a 1% fall in sales

Amazon Prime Day Sales slip, retail industry falling behind: Report

<h2>While Amazon brought in an estimated $144.53 in average spending per customer for the retailer, amounting to a 2% increase from last year&rsquo;s tally, other retailers with similar discounts saw a 1% fall in sales</h2>

Retail Sales:&nbsp;Facteus a credit card transaction data provider has said that Amazon's sales made only slight gains and the broader retail industry is falling behind. This, even while Amazon has said that this week's Prime day sales with two day discount promotion outpaced last year's event which suggested the retail industry looking at brighter months.
<h3>Lackluster Spending</h3>
The retail sector was looking for a rebound after a year of sluggish consumer spending. However, the lackluster spending comes as a troubling signal for the sector. As per Bloomberg, retailers are facing a disappointing end to the year with few choices. The retailers are forced to take on risky promotions to keep their heads above water &mdash; a strategy that will widen the gap between the haves and have-nots of the sector.
Also Read: <a href="https://www.editorji.com/business-news/amazon-great-indian-festival-2023-know-the-best-deals-and-discounts-on-top-brands-here-1697084423786">Amazon Great Indian Festival 2023: Know the best deals and discounts on top brands here</a>
As per Facetus, Amazon brought in an estimated $144.53 in average spending per customer for the retailer, amounting to a 2% increase from last year&rsquo;s tally. However, other retailers with similar discounts saw a 1% fall in sales compared to last year, noted Salesforce.
The top-line growth has seen a blow as consumer spending on 'nice-to-have' goods have slowdown. As per Bloomberg, Best Buy Co. Inc., Dollar Tree Inc. and Target Corp. all have narrowed their guidance for the rest of the year, saying inflation has put a crimp in consumers&rsquo; shopping habits.
<h3>Giant Vs Small Retailers</h3>
While Amazon and Flipkart can afford flashy discounts due to their sister businesses, small retailers have to tread the water carefully. As per market research firm Mintel, Three in five consumers who plan to shop this winter say they want to spend the least amount of money possible. This sets up an environment for retailers for risky discount wars as they fight for customers.
&nbsp;

Explore the new Amazon Prime Shopping Edition during the Amazon Great Indian Festival. At Rs 399/year, enjoy exclusive shopping perks, primarily on Android. A competitive move following Flipkart's VIP subscription.

Amazon Prime Shopping Edition plan launched in India for Rs 399: Check full details

<h2>Amazon's new Amazon Prime Shopping Edition at Rs 399/year offers exclusive benefits during the Great Indian Festival. Mainly for Android, it follows Flipkart's Rs 499/year VIP plan.</h2>

The Amazon Great Indian Festival is in full swing, offering a plethora of products across various categories with attractive deals. Amazon has upped the ante by unveiling a new membership tier, specifically tailored for shoppers.&nbsp;
Dubbed the Amazon Prime Shopping Edition, this new plan provides its members with exclusive shopping benefits at a price that's easier on the pocket than the traditional Amazon Prime membership.
<h3>Amazon Prime Shopping Edition Plan</h3>
For those in India, the Amazon Prime Shopping Edition plan comes at an enticing price of Rs 399 annually. As reported by MoneyControl, this plan extends several enticing perks to its members.&nbsp;
Some of these include a 24-hour head start on festive deals, expedited 1-day delivery for over 40 lakh products, and early-bird access to special shopping events.
Additionally, those who use the Amazon Pay ICICI credit card can avail of a 5 percent cashback with this plan. Interestingly, this membership plan appears to cater predominantly to Android users, with its visibility restricted from the web and iOS platforms.
In terms of affordability, the Amazon Prime Shopping Edition price stands out as the most budget-friendly annual option currently available. For comparison, Amazon's other membership tiers include a monthly plan at Rs 299, a quarterly plan at Rs 599, the standard annual plan at Rs 1,499, and a 'Lite' version priced at Rs 999 per annum.
However, this plan is streamlined to prioritize shopping benefits. Thus, it omits some other prime features like access to Prime Video and Prime Music that come bundled with the regular Amazon Prime membership.&nbsp;
Yet, given the ongoing Amazon Great Indian Festival, this plan is an ideal fit for those whose primary aim is to maximize the shopping perks.
<h3>Comparative Market Analysis</h3>
The launch of the Amazon Prime Shopping Edition closely followed Flipkart's introduction of its VIP subscription, priced at Rs 499 annually. This Flipkart offering includes advantages such as swift deliveries, expedited return pickups within 48 hours, and a dedicated customer representative.&nbsp;
However, it's noteworthy that while the Amazon Prime Shopping Edition India is accessible across the nation, Flipkart VIP has a more limited reach, being available only in select cities.
<h3>Wrap Up</h3>
With the Amazon Prime Shopping Edition benefits, Amazon seems focused on delivering enhanced shopping benefits to its vast user base, especially during the festive season. This move is likely to appeal to a significant segment of online shoppers looking for exclusive deals and privileges.
Also Watch: <a href="https://www.editorji.com/tech-news/mobiles/best-iphone-deals-on-amazon-and-flipkart-iphone-14-iphone-13-and-iphone-12-ultimate-buying-guide-2023-1696844872017">Best iPhone deals on Amazon and Flipkart: iPhone 14, iPhone 13 and iPhone 12 - Ultimate Buying Guide 2023</a>

Amazon India ramps up for the festive season, hiring 1,00,000 seasonal workers across major cities. Timed with the Great Indian Festival, new staff enhance operations, ensuring efficient picking, packing, and delivery, aiming for a seamless customer 

Amazon India boosts workforce: To hire for 1 lakh seasonal jobs ahead of Great Indian Festival

Amazon India ramps up for the festive season, hiring 1,00,000 seasonal workers across major cities. Timed with the Great Indian Festival, new staff enhance operations, ensuring efficient picking, packing, and delivery, aiming for a seamless customer experience

Amazon India ramps up for the festive season, hiring 1,00,000 seasonal workers across major cities. Timed with the Great Indian Festival, new staff enhance operations, ensuring efficient picking, packing, and delivery, aiming for a seamless customer experience

In anticipation of the upcoming festive season, Amazon India has announced the creation of more than 1,00,000 seasonal job opportunities within its vast operations network. These employment opportunities are spread across various cities, including Mumbai, Delhi, Pune, Bengaluru, Hyderabad, Kolkata, Lucknow, and Chennai.
The move to hire additional staff coincides with the highly anticipated 'Great Indian Festival' by Amazon, scheduled to commence on October 8, with exclusive early access for Prime customers a day prior.
Amazon India has already successfully integrated a significant portion of the newly recruited workforce into its existing network.
These new employees will play a crucial role in enhancing Amazon's fulfilment, delivery, and service capabilities. They will be responsible for tasks such as picking, packing, shipping, and delivering customer orders with utmost safety and efficiency.
Akhil Saxena, Vice President of Operations and Customer Service Head at Amazon, expressed enthusiasm about the company's preparations for the festive season.
He stated, "The festive season is always a special time at Amazon, we are welcoming an additional workforce of over 1,00,000 to strengthen our fulfilment, delivery, and service capabilities."
Amazon India operates fulfilment centres across 15 states, providing an impressive 43 million cubic feet of storage space for seller inventory. With this substantial increase in its workforce, the company aims to ensure a seamless shopping experience for customers during the festive period. Also Watch: <a href="https://www.editorji.com/business-news/personal-finance/amazon-great-indian-festival-sale-2023-from-oct-8-early-access-for-prime-members-check-deals-on-offer-1696317864315">Amazon Great Indian Festival Sale 2023 from Oct 8: Early access for Prime members; check deals on offer</a>

 Dive into Amazon Great Indian Festival Sale 2023 for unbeatable offers on iPhones, deals on Samsung Galaxy phones, and exclusive Amazon sale offers on Honor, OnePlus, IQOO, Redmi, Realme, and Tecno smartphones. Don't miss the biggest tech deals.


Amazon GIF 2023 Sale: Discount on top smartphone brands revealed- iPhones, Galaxy, Honor, Oneplus, iQOO, Redmi, Realme, Tecno

 Dive into Amazon Great Indian Festival Sale 2023 for unbeatable offers on iPhones, deals on Samsung Galaxy phones, and exclusive Amazon sale offers on Honor, OnePlus, IQOO, Redmi, Realme, and Tecno smartphones. Don't miss the biggest tech deals.

<h2>Amazon's 2023 festive sale begins on October 8th, offering Prime members a headstart. The sale boasts notable discounts, especially on top smartphones. Other tech items like laptops and audio gear also feature prominently.</h2>

India's festive season is about to get a lot brighter with the upcoming Amazon Great Indian Festival 2023 sale. Starting on October 8th, with an exclusive 24-hour early access for Prime members, the sale promises an avalanche of offers.
<h3>Dive into the Amazon GIF 2023 Sale Offers</h3>
The Amazon GIF sale 2023 is bringing forward a range of discounts and deals on a spectrum of products. However, the showstopper remains the alluring offers on smartphones from the biggest brands.
<h3>Amazon Reveals Discount on Top Smartphone Brands</h3>
The smartphone segment of the Amazon Great Indian Festival 2023 sale is a treasure trove:
Offers on iPhones: The Apple iPhone 13 will be available at a tempting price of Rs 39,999.
Deals on Samsung Galaxy smartphones: The newly launched Samsung Galaxy S23 FE 5G stands out, priced at Rs 49,999.
Amazon sale offer on Honor smartphones: The Honor 90 5G is a steal at Rs 26,999.
Amazon sale offer on OnePlus smartphones: The OnePlus 11R 5G and OnePlus Nord CE 3 Lite 5G are priced at Rs 34,999 and Rs 17,499 respectively.
Amazon sale offer on IQOO smartphones: iQOO Z7 Pro 5G is up for grabs at Rs 21,499.
Amazon sale offer on Redmi smartphones: Redmi 12 5G stands out at Rs 10,350.
Amazon sale offer on Realme and Tecno smartphones: Realme Narzo 60X 5G is priced at Rs 10,800 while Tecno Flip V 5G can be availed at Rs 47,999.
<h3>Tech Beyond Smartphones</h3>
While smartphones are the highlight, the Amazon GIF 2023 sale isn't limited to them. There are massive discounts on laptops, audio products, and more.
<h3>Wrap Up</h3>
The Amazon Great Indian Festival sale 2023 is setting the stage for one of the most anticipated sales of the year.&nbsp;
With enticing offers on iPhones, deals on Samsung Galaxy smartphones, and significant Amazon sale offers on Honor, OnePlus, IQOO, Redmi, Realme, and Tecno smartphones, the festive season is guaranteed to be exciting for tech enthusiasts.
Also Watch: <a href="https://www.editorji.com/tech-news/mobiles/samsung-fab-grab-fest-up-to-45-discount-on-galaxy-z-fold-5-z-flip-5-s23-ultra-galaxy-a54-and-more-1696501552927">Samsung Fab Grab Fest: Up to 45% discount on Galaxy Z Fold 5, Z Flip 5, S23 Ultra, Galaxy A54, and more</a>

Flipkart VIP is available at an introductory price of Rs 499 per year

Flipkart targets Amazon Prime-like customers with VIP membership launch

<h2>Flipkart VIP is available at an introductory price of Rs 499 per year</h2>

Flipkart is intensifying its rivalry with Amazon in the Indian e-commerce market by launching its own version of Amazon Prime, called Flipkart VIP. This move comes just ahead of the festive season sale when both companies aim to entice customers with substantial discounts.
Flipkart VIP is available at an introductory price of Rs 499 per year, mirroring Amazon's initial pricing for Prime. Notably, this is one-third of Amazon Prime's current annual fee. Although prices may change over time, both services offer similar benefits such as early access to sales and significant discounts. Also read/watch: <a href="https://www.editorji.com/business-news/pm-modi-s-gifts-on-auction-find-out-how-much-they-cost-and-how-you-can-own-these-items-1696336999415">PM Modi's gifts on auction: Find out how much they cost and how you can own these items</a> &nbsp; While Flipkart VIP promises free same-day/next-day deliveries in selected areas, it falls short of Amazon Prime's nationwide offering. Flipkart does not currently extend this delivery service to all customers, which has given Amazon an advantage through Prime.
Flipkart VIP also expedites the returns process, with pickups within 48 hours, and provides dedicated customer support for its members&mdash;a service currently lacking with Amazon Prime.
However, Amazon Prime includes a range of entertainment services like Prime Video, Music, Gaming, and Reading, whereas Flipkart VIP doesn't offer entertainment options but does enable flight rescheduling at nominal rates through Cleartrip. Flipkart's discount&nbsp;
The Walmart group has partnered with ICICI Bank, Axis Bank and Kotak Mahindra Bank to offer discounts on purchases.
It will also provide a credit facility of up to Rs 1 lakh through Flipkart Pay Later to customers.
"Personal loans of up to Rs 5 lakh at an interest rate of 12.5 per cent per annum can be availed by customers from the Banking partners on the platform," Flipkart said.
According to a market research firm Redseer Strategy Consultants, Flipkart led the first phase of festive season sales in 2022 with a 62 per cent share in terms of gross merchandise value followed by Amazon with a GMV of around 26 per cent share.
E-commerce companies were estimated to have generated a total sale of around Rs 40,000 crore during the first phase of the festive season sales.
A recent report by the market research firm projects online sales during the upcoming festive season to grow by 18-20 per cent and touch Rs 90,000 crore this year.&nbsp;

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