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Amazon to expand its reach in Latin American market

Image Courtesy: moneytalksnews.com

The US-based online retail giant, Amazon Inc. is all set to expand its presence in the Latin American market as it will launch its operation in Argentina and Colombia in April and July this year.

The e-retailer has been preparing for its launch in Argentina for more than six months. It is already operational in Latin American nations like Mexico and Brazil.

The Seattle-based company, headed by Jeff Bezos, is confident that physical infrastructure, including the logistics system, is likely to be in place by July in the country to start retail operations.

The entry of Amazon in the Colombian market will offer a platform to the Colombian brands to sell their products to a wider range of customers. The arrival of the online retailer will also ensure faster delivery and better customer service to local consumers.

Markedly, the retailer has recently added Colombian brands including Leonisa and OffCorss to its list of suppliers.

Peru is likely to be the next Latin American nation where Amazon may consider to start its retail business.

The online behemoth is working extensively on its expansion plans globally whether it’s India or any other country. It officially launched the Australian arm in December last year. The country became the 13th market in the world to have its own dedicated Amazon site after Brazil, India, Japan and Spain, to name a few.

Notably, Amazon reported a 31 per cent increase in sales to US $ 177.9 billion in 2017 as compared to 2016. It made a net profit of US $ 3 billion. US, Germany, UK and Japan are the major contributors to Amazon’s revenue.

The emergence of new markets for Amazon will further boost financial figures of the company.