February 27, 2020 | Investopaper
Amazon, the e-commerce giant is set to enter the Indian food delivery market. Currently dominated by Swiggy and Zomato, Amazon has geared up to compete in this highly tough market.
Recently, Uber had backed out of the market by selling its food delivery business operating in India to Zomato in all-stock transaction. Despite the exit of Uber eats, Amazon has decided to give a fight to the two dominant players. Swiggy and Zomato are offering huge discounts to the customers in order to acquire more market share.
Amazon’s decision to enter the food delivery market in India is to offer its customers a variety of products from grocery to electronics to food.
The e-commerce giant is likely to face tough competition from Swiggy and Zomato. Both the major players have yet to earn a profit and are continuously losing money for more market share.