Ulmart, Russia’s online equivalent to Amazon, reportedly has succeeded by doing what Amazon does not.
“In this market,” Ulmart’s chairman, Dmitry Kostygin, told Businessweek, “Amazon has no chance.”
The an online retailer reported $1.2 billion in sales last year. Instead of wooing customers with low-cost home delivery, Ulmart encourages them to pick up their orders at urban outposts and warehouses that double as stores, reports Bloomberg Businessweek.
Moreover, while Amazon ships on such partners as United Parcel Service, Ulmart keeps its own fleet of 190 trucks.
Amazon, meanwhile, is reportedly negotiating with the likes of Ralph Lauren, J. Crew and Lord & Taylor to bring products from those brands to the eCommerce giant’s site. Read more.
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