Amazon founder is telling executives to ‘do what it takes to succeed’ in India
NEW DELHI– Amazon.com Inc. founder Jeff Bezos, perturbed by his company’s failure to capture much of the massive Chinese market, had a pointed message for executives in India during a visit in 2014: Don’t let that happen here.
Do what it takes to succeed and don’t worry about the cost, Mr. Bezos said, according to a person who was present.
Amazon, which dominates online selling in the U.S. but so far has gained little traction in developing countries, has since invested billions of dollars to build a logistics network spanning India to reel in shoppers.
The result: the company rapidly became India’s No. 2 e-commerce player and moved within striking distance of local rival Flipkart Internet Pvt., according to some estimates. Indeed, Mr. Bezos last month declared Amazon was on top in a market it largely had ignored until recent years, though he didn’t say by which measure.
“We are winning in India,” Mr. Bezos said at a conference in San Francisco, arguing that Amazon has pulled past Flipkart to become “the leader in India now.”
Amazon’s attempts to push into developing markets—marked by difficult logistics and significant cultural differences in shoppers’ expectations—reflect the e-commerce giant’s search for new routes to growth as it saturates the U.S. market. Countries such as China and India promise rapidly growing populations with steep rates of online shopping adoption as technology becomes more accessible.
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