October 25, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Amazon launches Prime service in Poland

Amazon’s Polish site went live in March, significantly intensifying competition in Poland’s booming e-commerce sector.

Reuters

October 12, 2021 / 02:43 PM IST

Representative image.

Representative image.

Amazon on Tuesday launched its Amazon Prime service offering free delivery and video streaming in Poland, sending shares in rival Polish e-commerce platform Allegro lower.

Amazon’s Polish site went live in March, significantly intensifying competition in Poland’s booming e-commerce sector.

“We are very pleased with the way Polish customers accepted the Amazon.pl service launched at the beginning of this year,” Mourad Taoufiki, CEO of Amazon.pl, said in a statement.

Amazon said it is pricing its Prime service at 49 zlotys ($12.35) per year.

Shares in Allegro, whose Smart! service also costs 49 zlotys per year and offers free delivery on orders of more than 40 zlotys, were down 3.7% at 0805 GMT.

mBank analyst Pawel Szpigiel said Amazon’s announcement was as a surprise, coming just a few months after the company’s launch in Poland.

”It… seems that Amazon’s appetite for the Polish market is big,” he said.

Allegro did not immediately respond to a request for comment.

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