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Amazon Wages Price War Against Britain's Leading Supermarket Chain: Key Takeaways

Benzinga Real-time News · Jul 18, 2022 07:34

Amazon.com, Inc's (NASDAQ:AMZN) U.K. grocery business aims to match prices on everyday items versus Tesco PLC (OTC:TSCDY), intensifying rivalry against Britain's largest supermarket chain, the Business Times reports.
Amazon chose to fight out Tesco's Clubcard loyalty initiative in the produce, meat, and fish categories.
Amazon expanded its business selling groceries in the U.K. under its Amazon Fresh banner, reaching 19 stores, including one outside London in the town of Sevenoaks.
Amazon also has deals like its private label range and offers same-day delivery on grocery orders in some areas.
Britain's grocers have battled to keep prices low for shoppers while coping with soaring inflation.
The grocers faced intense competition from German discounters Aldi and Lidl.
Tesco and J Sainsbury, the country's second-largest grocer, match hundreds of products to Aldi.
Amazon Fresh launched in the U.K. in 2016, while Tesco controls just over 27% of the market.
The Big Four grocers, Tesco, Sainsbury plc (OTC:JSAIY), Morrison (Wm) Supermarkets PLC (OTC:MRWSY), and Asda Group, control about two-thirds of the market.
Price Action: AMZN shares traded higher by 1.51% at $115.27 in the premarket on the last check Monday.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.

In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).

In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.

In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our website https://www.moomoo.com/au.

In Canada, order-execution only services available through the moomoo app are provided by Moomoo Financial Canada Inc., regulated by the Canadian Investment Regulatory Organization (CIRO).

In Malaysia, investment products and services available through the moomoo app are offered through Futu Malaysia Sdn. Bhd. ("Moomoo MY")regulated by the Securities Commission of Malaysia (SC). Futu Malaysia Sdn. Bhd. is a Capital Markets Services Licence (License No. eCMSL/A0397/2024) holder. This advertisement has not been reviewed by the SC.

Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.，Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc., and Futu Malaysia Sdn. Bhd. are affiliated companies.

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