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Tariffs were a port decision

Nov 14, 2019

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Marketplace Morning Report

Is Amazon finally poised for a complete retail takeover?

Adriene Hill and Sean McHenry Oct 27, 2017
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CVS is reportedly offering $66 billion to buy health insurer Aetna, and there’s a lot at play here. But one reason behind the bid may be concern that Amazon is eyeing the prescription drug market. The St. Louis Post-Dispatch reported Amazon has approval to be a wholesale drug distributor in at least 12 states. Earlier this year, Amazon jumped into the grocery market, buying up Whole Foods. It also wants to drop packages inside your house.

All of this would be pie in the sky, except it seems to be working. The company announced way-better-than-expected quarterly sales numbers yesterday. So is Amazon finally poised for complete retail takeover?

According to Bloomberg e-commerce reporter Spencer Soper, it’s probably too early to say that. But the business marketplace, i.e., selling supplies to offices, dentists, doctors? That’s somewhere Amazon could make a lot of headway.

“Shoppers still like to go to the store,” Soper said. “Business people would really like to avoid having to run out to the store to buy things.”

To hear the full interview, click the media player above. 

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