The world’s largest online retailer, Amazon Inc., is gearing up for its official launch in the Nordic country, Sweden. Amazon.com will launch in Sweden via the website Amazon.se. This will set the course of Amazon’s journey to establish a local presence in the Nordic region.
The entry of Amazon into the Swedish market had been teased for years, but now Amazon has confirmed the launch in Sweden. Swedish customers can shop on Amazon but through its websites in other European countries such as Germany. However, they have had to pay high delivery charges for shipping their purchases to Sweden. Alex Ootes, Vice President for EU Expansion at Amazon, said the aim is to introduce a complete retail offering to Swedish customers after launching Amazon in Sweden. He also said Amazon is optimistic that it will win the trust of its Swedish customer base by focusing on features such as low prices, a wide range of products, and faster delivery to everywhere in Sweden. However, Amazon has not yet disclosed its plans to open a distribution hub or a warehouse in Sweden, but there are reports that a warehouse is being built in Stockholm. The entry of Amazon into the Swedish market could create a competitive climate for the local and already established players of the same industry in the region. Retail consultant Markus Varsikko, who assists in the selling of products of the Nordic companies through Amazon, said in a statement that Amazon could be launching during the autumn season, but there is also a possibility that it could launch in September or October.
Amazon’s move into the Nordic region’s largest economy comes at a time when the U.S.-based big tech has been profiting immensely from the shift of consumer trends to online shopping. This has brought a massive influx of customers who are trying to avoid buying clothes and other materials from physical stores owing to the highly contagious coronavirus pandemic. Recently, Amazon recorded significant profits and led the technology segment of the stock market. Reportedly, it has projected revenue generation of the third quarter of USD 93 billion.