Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

AMAZON.COM, INC.

(AMZN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Amazon to launch food and drink sales in Mexico

08/30/2018 | 06:45pm EDT
FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves

MEXICO CITY (Reuters) - Amazon.com Inc will begin selling food and drinks online in Mexico, including snacks, sweets and wines, it said on Thursday, a move that could intensify its competition with Wal Mart de Mexico to claim shoppers in a nascent e-commerce market.

Online shopping represents a fraction of total retail sales in Mexico but has grown swiftly, putting Amazon and its rivals in a race to ramp up investments in logistics, technology and product offerings.

Amazon views food and drink sales as key to growth, eyeing routine purchases to stock pantries as a way to generate other types of sales, but has yet to dominate the category.

The new items on its Mexico site, which it launched in 2015, span coffees, teas, liquors, wines and beers, as well as cooking ingredients, non-perishable snacks and sweets.

"We're committed to offering our clients as many products as we can," Fernando Ramirez, Amazon Mexico's senior product manager, said in a statement.

The launch shows Amazon's intent to claim more of Mexicans' wallets, said Gene Munster, research head at Loup Ventures.

"Non-perishables are the first step to capturing food spending, and likely indicate Amazon's ambitions to increase its offering related to fresh food," he said.

In the United States, Amazon moved into online grocery sales through a $13.7 billion purchase of Whole Foods Market last year. It offers two-hour delivery and lets shoppers pick up Amazon products from Whole Foods stores.

Walmart, meanwhile, aims to deliver groceries to over 40 percent of U.S. households by year's end.

The company plans to accelerate its online grocery business in Mexico as well, Walmart International's Chief Executive Judith McKenna said earlier this year.

Soriana, La Comer and Chedraui are among Mexican grocers that also offer delivery services, along with online marketplace MercadoLibre.

Walmart's Mexico unit, Walmex, is counting on its 2,390 stores to help execute speedy deliveries.

Amazon may struggle to match the selection of traditional stores, said Jose Acosta, a former Walmex executive who is now CEO of digital payments application Pagamobil.

"Brick-and-mortar players have done a very good job of defining a very wide catalogue, and that's not something you develop so fast," he said.

Small warehouses stocked with snacks and drinks will be crucial for Amazon to deliver fast, said Alfredo Garcia, business development head at Mexican e-commerce delivery service Skydrop.

Convenience is also important.

"If you have a party ... what a drag if you go to Amazon to buy beer and potato chips, but you have to use another application to buy meat and tomatoes," Garcia said.

(Reporting by Daina Beth Solomon; additional reporting by Julia Love in Mexico City, Nandita Bose in New York and Jeffrey Dastin in San Francisco; editing by Susan Fenton and Sandra Maler)

By Daina Beth Solomon


© Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -0.05% 3407.76 Delayed Quote.4.67%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.58% 157.5 End-of-day quote.13.40%
GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. 1.59% 38.3 End-of-day quote.33.17%
LA COMER, S.A.B. DE C.V. -0.94% 34.6 End-of-day quote.-23.75%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.00% 125.75 End-of-day quote.11.53%
MERCADOLIBRE, INC. 1.18% 1582.65 Delayed Quote.-6.69%
ORGANIZACIÓN SORIANA, S. A. B. DE C. V. -0.39% 25.49 End-of-day quote.26.88%
STEP CO.,LTD. -1.65% 1912 End-of-day quote.19.72%
WAL-MART DE MÉXICO, S.A.B. DE C.V. -1.51% 71.07 End-of-day quote.26.96%
WALMART INC. 0.68% 141.47 Delayed Quote.-2.50%
All news about AMAZON.COM, INC.
11:22aAMAZON COM : Narrow tunnels, steep hills, inclement weather—Zoox is ready
PU
08:25aAmazon Aims to Hire 150,000 Seasonal Workers
DJ
08:21aAMAZON COM : Hiring 150,000 for Seasonal Jobs; Shares Nudge Lower Pre-Bell
MT
08:13aAMAZON : Hiring for 6,200 Seasonal Jobs in Cities and Towns Across Arizona
BU
08:11aAMAZON COM : Hiring for 150,000 Seasonal Jobs With 4,500 Available in Cities and Towns Acr..
BU
08:09aAMAZON : Hiring for 23,000 jobs Across Cities and Towns in California
BU
08:09aAMAZON : Hiring for 150,000 Seasonal Jobs to Help Deliver Great Holiday Experiences
BU
07:03aAMAZON COM : Five U.S. lawmakers accuse Amazon of possibly lying to Congress following Reu..
RE
06:21a'ENOUGH'S ENOUGH' : tight U.S. job market triggers strikes for more pay
RE
06:00aAMAZON COM : Members Of U.S. Congressional Committee Question If Amazon Executives Misled ..
RE
More news
Analyst Recommendations on AMAZON.COM, INC.
More recommendations
Financials (USD)
Sales 2021 476 B - -
Net income 2021 27 005 M - -
Net cash 2021 57 270 M - -
P/E ratio 2021 65,3x
Yield 2021 -
Capitalization 1 726 B 1 726 B -
EV / Sales 2021 3,51x
EV / Sales 2022 2,90x
Nbr of Employees 1 298 000
Free-Float 82,5%
Chart AMAZON.COM, INC.
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 49
Last Close Price 3 409,02 $
Average target price 4 178,90 $
Spread / Average Target 22,6%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AMAZON.COM, INC.4.67%1 726 466
JD.COM, INC.-7.37%126 377
ETSY, INC.24.27%27 985
WAYFAIR INC.6.18%24 912
ALLEGRO.EU SA-40.15%13 215
MONOTARO CO., LTD.-3.01%11 079