We are ahead of competition in India, says Amazon Fashion
Amazon Fashion said on Wednesday it is far ahead of its competitors in India, Flipkart and its two subsidiaries Myntra and Jabong, staking claim to the top spot in the fashion marketplace ecosystem with triple digit growth month-on-month.
Capitalising on its more than a million strong ‘Amazon Prime’ membership base, the US-based e-commerce firm’s fashion vertical has increased the assortment of products eligible for ‘prime’ deliveries and service.
According to the company, the move has helped more ‘prime’ members shop for fashion on the portal, and is even helping it increase its membership base, as more people are looking for exclusive services.
“We are the biggest brand with the largest selection of products in the country. We continue to grow the traffic on the site and are the largest visited e-commerce destination. One out of three people who come to the site check out a fashion product. If you look at ‘Prime’, a fourth of fashion deliveries are already on it,” said Arun Sirdeshmukh, Head, Amazon Fashion India.
Amazon Fashion has an assortment of 15,000 brands and around 1,000 exclusive international brands, the latest entrants being Marks and Spencer’s and sports activities brand Under Armour.
“We are ahead of the competition and endorsement from brands like Under Armour reinforces that point .... On monthon-month basis, on average, we are growing in triple digits, more than 100 per cent. Growth in a business like ours comes from two key components — those who shop with us shop some more and secondly, new customers. We are scoring very well on these two. We are drawing, I would say, customers from other players,” he said.
Amazon, which is concentrating more on growth than profitability, said the company is profitable in certain areas.
“When you look at investments that have been made, ours are the best. Like all businesses we track and think of the right things to do from an economic points of view. There are many areas where one can count as being profitable, but that is a matter of opinion,” Sirdeshmukh said.