Amazon’s strategy won't change even after 20 years: India chief Amit Agarwal
Our focus is best spent on ensuring that we have the best customer experience," said Amit Agarwal, Amazon India Head
As Flipkart and Snapdeal gear up for a potential merger to fight the larger rival Amazon, the US-based firm says its core strategy lies in and will continue be to ‘improve customer experience.’
"At the end of the day we know that customers will only shop on Amazon until the very point, they get a better experience elsewhere. Our focus is best spent on ensuring that we have the best customer experience," said Amit Agarwal, Amazon India Head in an interaction with Moneycontrol.com.
The Indian e-commerce segment is undergoing a phase of consolidation. Last year, Tiger Global-backed Flipkart acquired fashion e-tailer Jabong and is currently in talks to acquire rival Snapdeal. Earlier this month, it also raised USD 1.4 billion from companies such as eBay Inc, Microsoft and Tencent. As part of the deal, eBay India business got merged with Flipkart.
Alibaba-backed Paytm is also reported to be in conversation with Softbank to raise around USD 1.5 billion.
On being asked if Amazon saw it as a different market now as compared to the one it entered in 2013, Agarwal said, "... no matter what happens, even after 20 years, customers would want great selection, great product and fast delivery. So I am going to keep my focus on that... so that I am not distracted when everything else is changing... it doesn't matter..."
"We are such an early stage of e-commerce in India. We have significant competition in every country...our strategy 20 years later in India would be the same," he added.
In the last almost four years, Amazon has been able to grow its market share in India significantly. In 2016, it pushed Snapdeal to the third position to become the second-largest e-commerce firm in India.
Currently, it is neck and neck with Flipkart.The company is also sitting on a huge pile of money. During his last visit to India in June 2016, Amazon Inc chief executive Jeff Bezos announced that it would invest an additional USD 3 billion in India, boosting its committed investment in the country to over USD 5 billion.