Amazon will pay full price to US retailers to boost its inventory [Update]
Amazon sells a wide variety of products, but you can't buy anything and everything through the online retailer. The company is reportedly trying to change this by sacrificing huge profits in favor of efficiency-according to a CNBC report, Amazon contacted thousands of third-party retailers via e-mail about taking part in a new program in which Amazon would buy their inventory at full price. Amazon would then be able to sell those products on its website, allowing it to quickly fulfill more orders around the world.
According to the e-mail obtained by CNBC, Amazon is offering "no additional fees" for a limited time for the third-party retailers that choose to be part of the new program. Amazon will buy their inventory at local market price, meaning Amazon likely won't make much of a profit on those items if and when they sell on its website. But according to an Amazon spokesperson that confirmed the authenticity of the e-mail, profit isn't the biggest goal of this program.
"When items are unavailable in a particular geography, we provide customers with selection from another marketplace," the spokesperson said. "This offers customers a wider selection of great brands and helps sellers increase sales."
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