Here’s How Tariffs Are Affecting Amazon’s Prices, According to CEO Andy Jassy
Amazon’s CEO spoke at the company’s annual shareholder meeting this week.
At Amazon’s on Wednesday, CEO Andy Jassy told viewers (the conference was virtual) that tariffs have not had a “meaningful” effect on prices.
“We have not seen any attenuation of demand at this point,” Jassy said, . “We also haven’t yet seen any meaningful average selling price increases.”
Related: Walmart Is Laying Off 1,500 Corporate Employees: ‘Reshaping Our Structure’
Jassy said that Amazon can keep prices low because its platform has a wide range of sellers (more than 60% of products sold are third-party, ).
“I think that the diversity and the size of our marketplace really helps customers have the best selection of the best prices,” at the meeting.
“When you have two million sellers, they’re not all going to take the same action,” he added, per Reuters.
Related: Have You Made an Amazon Return in the Last Decade? You Might Be Getting a Refund.
Tariffs are affecting retailers in different ways. Home Depot that it would not be raising prices (in the immediate future) due to tariffs. But not all companies are on the same path.
said that shoppers will see elevated prices at its stores in the next couple of weeks because the cost increases are “more than any retailer can absorb.”
Target, Best Buy, and Mattel all said customers will on some products.
At Amazon’s on Wednesday, CEO Andy Jassy told viewers (the conference was virtual) that tariffs have not had a “meaningful” effect on prices.
“We have not seen any attenuation of demand at this point,” Jassy said, . “We also haven’t yet seen any meaningful average selling price increases.”
Related: Walmart Is Laying Off 1,500 Corporate Employees: ‘Reshaping Our Structure’
Jassy said that Amazon can keep prices low because its platform has a wide range of sellers (more than 60% of products sold are third-party, ).
“I think that the diversity and the size of our marketplace really helps customers have the best selection of the best prices,” at the meeting.
“When you have two million sellers, they’re not all going to take the same action,” he added, per Reuters.
Related: Have You Made an Amazon Return in the Last Decade? You Might Be Getting a Refund.
Tariffs are affecting retailers in different ways. Home Depot that it would not be raising prices (in the immediate future) due to tariffs. But not all companies are on the same path.
said that shoppers will see elevated prices at its stores in the next couple of weeks because the cost increases are “more than any retailer can absorb.”
Target, Best Buy, and Mattel all said customers will on some products.
