Demonetisation impact: Amazon India cuts down on mobile phone Premium Sellers

Owing to a slump in demand post demonetisation, Amazon India has cut down the number of mobile phone 'Platinum Sellers' on its platform by 70 percent to save costs, reports BusinessLine. The online shopping giant had trimmed the discounts it offered on its mobile phones by 6-10 percent after the cash ban, as mobile phone sales slipped by 60 percent.Platinum Sellers get various benefits which regular sellers don't. For instance, they receive weekly payouts rather than bi-weekly that other sellers get. They also get more visibility on search results and also get to create their own online store fronts.The e-commerce major had increased the number of Platinum Sellers on its website to 13 during Diwali to meet the increased demand. But in the aftermath of the cash ban, Amazon brought the number to four.According to Amazon's policies, a Platinum Seller gets to retain the title for upto six months. But owing to stiff competition from the likes of Flipkart and Snapdeal, it is now changing its policies.The losses for the December quarter of the international business of Amazon, rose to a staggering USD 487 million compared to USD 108 million from the previous year.