Amazon readies for launch in Sweden

Amazon has confirmed it is preparing to launch in Sweden as the US retail giant continues its expansion.

The company said the move will provide “new opportunities” for the country’s businesses “to reach new customers”. Third-party sales currently account for around 60 percent of all physical products sold globally on Amazon.

“Amazon has been supporting Swedish customers and selling partners across our different European stores for many years, but the next step is to bring a full retail offering to Sweden and we are making those plans now,” Alex Ootes, vice president EU Expansion at Amazon, said in a statement.

“We are excited to empower small Swedish businesses through Amazon and are investing in tools and services to help them grow. We’re optimistic that by focusing on the things we believe customers value the most - low prices, vast selection, and fast delivery - over time we will earn the trust of customers in Sweden.”

Amazon has been one of the success stories of retail in recent months as consumers increasingly look online to shop amid the Covid-19 pandemic. The retailer beat Q2 earnings estimates last week, with sales up 40 percent to 88.9 billion dollars compared to the previous year and net profits doubling to 5.2 billion dollars.

Photo credit: Amazon Facebook