How did Snapdeal recover from its losses
Perhaps to celebrate its three-year anniversary in India appropriately, the US online retailer Amazon announced that it intends to invest another 3 billion US dollars in Amazon India. Almost two years ago, the online giant committed to investing $ 2 billion in India, bringing the total investment in the country for Amazon to $ 5 billion.
The US company definitely wants to leave domestic rivals like Snapdeal and Flipkart behind and become number one. As reported, lies Amazon currently ranks second in India behind Flipkart - a position the company does not seem to want to be satisfied with. In any case, the new investment is well ahead of that of its two rivals combined: While Flipkart was able to raise over 3.2 billion US dollars, Snapdeal is 1.5 billion US dollars.
Amazon probably does not want to repeat the mistake it made in China in this important market - there the company has been clearly outperformed by rival Alibaba. He also struggles with this US retail giant Walmart, which is only sixth on the Chinese online market - with a 1.6 percent market share compared to Alibaba's 46.9 percent.
Amazon founder and managing director Jeff Bezos is referring to the 45,000 jobs that Amazon India has created in India and the huge potential that the Indian economy still offers. Bezos announced the new investment last week during Indian Prime Minister Narendra Modi's three-day US visit.
Photo: Amazon Fashion / amazon.in
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