Walmart Rains on Amazon's Multibillion-Dollar Opportunity
The online grocery market in India is booming right now. Management consulting firm RedSeer estimates that Indians will spend $8.7 billion to purchase groceries online in 2022, compared to $1.2 billion last year. Given the enormous growth on offer, it is not surprising to see why the online grocery market is turning out to be the new battlefield for Amazon (NASDAQ: AMZN) and Walmart (NYSE: WMT) in India.
Amazon recently started scaling up its online grocery business in India with the help of hypermarket chain Big Bazaar. The e-commerce giant is currently using 18 Big Bazaar locations in the three major cities of Mumbai, New Delhi, and Bengaluru to service a total of 300 to 1,000 orders daily. The orders are fulfilled through Amazon's two-hour delivery service.
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Source Fool.com
