Amazon (AMZN) Selling Electronics In Brazil Via Third Parties
Zacks Investment Research | Oct 19, 2017 08:37AM ET
Amazon.com, Inc. (NASDAQ:AMZN) has started selling electronics through third parties in Brazil.
The company will reportedly allow customers to pay as many as 10 monthly installments without interest. It will pay sellers upfront, deducting a 10% commission and fees of $6 (19 reais) per month or 63 cents (2 reais) per item.
The company is not developing its own logistics and relying on third parties for distribution. It may add other commodities in the remainder of the year.
Amazon's country manager in Brazil, Alex Szapiro stated that “Brazilians are passionate about technology.” “The same way they’re passionate about reading. But in both cases, it’s a matter of price, of how easy and convenient it is to shop” he added.
Speculations regarding the move have been doing the rounds since last week, sending shares of local players down. Bloomberg reported about Amazon’s hiring plans in Brazil, hinting on a possible expansion.
Amazon shares have gained 33% year to date, underperforming the 52.7% rally of the Zacks Investment Research
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