The stock of Amazon.com, Inc (NASDAQ:AMZN) closed at $1,141.57 gaining 0.67% in yesterday’s trading session. It was on Tuesday when the e-commerce giant made its first orders in Australia and this was a shocker to a lot of people considering the speculations that had taken over for months. Amazon’s recent expansion is part of a major scheme for it to maintain its relevance in the market as well as sharpen its competitive edge.
Across all the 23 categories were millions of products including consumer electronics, toys, clothing and accessories as well as sports and outdoor goods. Amazon has for quite some time remained dedicated to selling its wide range of products in Australia and has been pretty good when it comes to making shipments of items directly to the third-party market place and customers. A lot of businesses have succeeded in their efforts to sell through Amazon’s website.
It was expected that Amazon was going to launch in Australia last month and that was to coincide with the Black Friday shopping but matters did not unfold according to plan considering that delays went on for quite some time.
The fact that Amazon lacked a warehouse in Australia was reason as to why all the Amazon-registered sellers in Australia had been limited to sending products offshore. This meant that Australians were forced to wait for the goods they needed much longer as well as proceed to pay more for the shipping.
The company’s latest development was the set up of an enormous warehouse which lies on the outskirts of Melbourne. It has expressed its optimism in cutting down delivery time to as little as a day.
Amazon’s manager for Australia, Rocco Braeuniger, opined, “Over time, we will create thousands of new jobs and invest hundreds of millions of dollars in Australia. The opening actually sent competing retail stocks higher on Australia’s main stock exchange Tuesday amid complaints of limited product range and uncompetitive prices on the U.S.-based platform.”