India – Number 2 country for investment for the retail giant!
Amazon, an online retailing giant that has ushered its presence all over the globe, has stated that India is the second biggest investment country for the company after the United States. India has added new consumers at a fast pace that is sharp and has made history from its previous analysis. Analysis reports say he India operations grew by 500 per cent in the number of units shipped last year, a notable market presence that resulted in taking Amazon a step to invest in Indian market and making it on No.2 investment country after US.
As told by Piacentini, (who draws the highest salary from Amazon and reports directly to the founder Jeff Bezos) India is the key to Amazon’s future success. He added – he would be surprised if India would not have been listed in the No.2 category considering its prolific rise in the past 10 years. “I am an optimistic person but my optimism was not enough. If you told me 27 months back that I am going to sit here and look back at a growth of 500%, year-on-year, I would have said that is not possible,” said Piacentini.
“We need to look at the long term. The kind of massive infrastructure and partnerships we are building in this country is huge. The US and Europe after some point will have a different growth trajectory,” Piacentini said.
While Amazon India operations has just finished its grounds in the Indian market with little over two years, it has already occupied a huge market and has added new customers and positioned to No.2 as compared to the Indian giant Flipkart. Highly concluded, Amazon is delivering tough fight to other rivals like Snapdeal and Paytm. Snapdeal recently snapped a huge investment of $500 million dollar from Alibaba, Softbank and Foxconn that accounts for a big success but inspite of that fact, Amazon’s customer service is leading with the contenders.
Last year, Bezos had announced that company has earmarked more than $2 billion in funds for investment in India. As typical of Amazon fashion, the company did not reveal any specifics.
The steep growth of Indian economy and development in every possible sector is an adjoined treat for Amazon that has increased its sales in India.
It was also asked about the app only feature that is making its presence in the Indian market because of the rise in mobile users. Rivals like Flipkart have plans on cards to switch to mobile only feature, where its subsidiary Myntra (the largest online fashion store) has already turned its doors to app only feature. Amazon officials said that since mobile traffic contributes to 65%, the company will serve on all platforms as app is the first feature but not the last. So the convenient method is all platforms shall be open for the users. As much not revealed, Amazon has no plans for serving from app only feature.