Amazon is the world’s largest online marketplace in the world. Amazon provides their services in 14 different countries including Netherlands, United Kingdom, United States, China, Italy, Japan etc. Amazon was founded in 1994 at Washington in the US works in E-commerce and Cloud computing.
About the Founder of Amazon:
Jeff Bezos is an American computer scientist and philanthropist. Born on January 12, 1964, Jeff Bezos founded Amazon in 1994 and also is the chairman-chief executive officer of Amazon.com, the world’s largest online shopping retailer. The company started with selling books online and now slowly it has the widest range of products and services online. Amazon’s recent product is Amazon Prime Videos an online video and audio streaming service for entertainment around the world. Amazon is currently world’s largest online sales company and also largest provider of cloud infrastructure through Amazon Web Services.
Amazon In India:
Amazon India was launched in June 2013. Since foreign e-commerce companies were not allowed to hold their own inventory and sell directly to consumers in India, Amazon launched its marketplace model which enabled third-party sellers to trade their products. Since its launch in India Amazon has built a biggest online marketplace in the country.
Challenges faced by Amazon In India:
- To understand e-commerce market to the developing country
- Study and Understand the issues of running e-commerce website in India.
- To analyze how to win over India’s Key emerging markets.
As per a recent survey was done among more than 2000 online consumers Amazon is the first choice for online shopping in India as compared to its competitor Flipkart and Snapdeal. The main reason behind it is their prime service and strong logistics. According to the survey, 80% of Indian online consumers prefer Amazon over any other e-commerce website.Shipping cost, shipping time, product review-ratings, low price guarantee and retailer’s return policy are the key factors for customers while picking an online retailer. From last many years, Amazon has been rated very high at customer satisfaction and consistently increasing the categories of products to purchase which is helping Amazon to remain people’s favorite.
Amazon Journey in India:
After its start in India in 2013 Amazon has come a long way and continue to become the first choice of the consumers. Here are the few Highlights of Amazon journey in India.
- Since the launch in India Amazon has Invested 5 Billion US dollars in India.
- Amazon is covering every serviceable pin codes in India for delivery of their products.
- Amazon has largest storage capacity in India with 41 fulfillment centers across 13 states.
- There are more than 20,000 Indian sellers on Amazon marketing their product worldwide.