* The translation was made by using Google Translate.
German e-commerce company OTTO is Amazon's largest competitor. At least, the former CEO and the current chairman of the supervisory board of the Otto Group, Michael Otto, says so. He stated this in an interview with «Business Insider».
Michael Otto is a 76-year-old German who owns a family business. The one who turned the postal business of his father (the founder of Otto GmbH, Werner Otto) into a strong, competitive, full-fledged e-commerce company in Europe.
Currently, the OTTO group includes not only Otto.de, but also well-known online stores like “About You”, “Limango”, “Manufactum”, “Sport Scheck” + “Hermes” delivery service. OTTO's total revenue in 2018 was € 13.7 billion, while Amazon’s profit was $ 10.1 billion.
M. Otto told how he traveled to Silicon Valley every 2 years to see what his companies would have to face as they evolved from a mailer to a large online trading platform. “Already in 1995 we were online with the entire range of our products. At that time, only 250,000 people in Germany had access to the Internet. This gave us enough time to develop into a digital enterprise. This is our advantage. Many competitors in Germany who think that in 2-3 years will be able to turn an ordinary company into a digital enterprise have already disappeared from the market.”.
«Amazon is the perfect department store. If you are looking for something, you can find it on Amazon. We are more inspirational, trendy and service oriented.” - So said the former CEO Otto.
Otto has customer support: consumers ask thematic questions that they don’t find the answers online. “In addition, our advantage is that we own the Hermes delivery service. For furniture and large household appliances, customers can choose a two-hour delivery window. We connect devices, pick up old attributes and all packaging.”.
«Values is another strength of the Otto platform».
«Values are another our strength:
1. We envisage the participation of other retailers, brands, manufacturers in our site and establish rules for them.
2. We do not accept companies from China that do not pay VAT.
3. Do not allow cheap copied goods.
I think that in Europe the Otto resource in the general assortment is the only alternative to Amazon.».
Interestingly, what would D. Bezos answer to this?))