Trade Ideas-05/08/2021
Amazon.com Inc (NASDAQ:AMZN) is trading up 1.04% at 3366.24
E-commerce giant Amazon.com Inc (NASDAQ:AMZN) started to offer its Brazilian Prime subscribers free one-day delivery in 50 cities on Wednesday, amid fierce market competition in Latin America’s largest economy.
The move comes as rivals such as MercadoLibre (NASDAQ:MELI) and Magazine Luiza are investing heavily to ramp up delivery speeds and gain clients.
The Amazon initiative, which already exists for Prime subscribers in markets across the United States, Canada and the United Kingdom, arrives two years after Prime was first launched in Brazil. Previously, Prime users in Brazil had access to free two-day shipping
with the option of paying extra for one-day delivery.
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