Amazon.com, Inc. (NASDAQ:AMZN) is expanding to Australia for the first time ever.
Well, the retailer is bringing its e-commerce business to the land down under as it seeks to expand its international business, which is already in every other top nation in the world.
Australia is the 12th largest economy in the world and 90% of its citizens have home Internet. The move has caused a lot of local businesses to lose stock value in the market.
Amazon’s venture into Australia should not come as much of a surprise due to the fact that the company has placed over 100 advertisements around the nation ahead of its move.
Additionally, the e-commerce retailer has patented plenty of trademarks for items it can sell overseas.
“We are excited to bring thousands of new jobs to Australia, millions of dollars in additional investment, and to empower small Australian businesses through Amazon Marketplace,” the company said in a statement.
The idea of expanding Amazon Marketplace and small businesses in Australia is a mutually beneficial element of the way the company’s business is set up, allowing these companies to sell items through the retailer, while Amazon nets a percentage of the sales.
The Amazon Marketplace in Australia is the 12th one launched by the company in the world.
AMZN shares grew 0.5% during regular trading hours Thursday.