Amazon (NASDAQ: AMZN), a giant in the online shopping space, has allowed Australians to use the main site. Earlier, the giant has been blocking the Australians and, as a result, the Australian people were not able to do shopping on the international as well as the US sites. The Australian people can now also use the sites of other countries, and they would not be redirected to the Australian site. The customers have already given the money for the Amazon Prime’s local version are also eligible for free shipping. However, the Australians have to shell out extra 10% to cover the GST. However, the Australians are not eligible for each and every product. The Australian people are eligible only for the goods shipped by the e-commerce giant itself from its warehouse. The Australians are not eligible for the products from the partner retailers who are using the site of Amazon.
In the last year, there was speculation that the e-commerce giant would be rolling out the full Australian operation on Black Friday, but the company was unable to do so. The company stated that earlier it had assessed certain changes in the Australian GST law and so that it can remain compliant, the company decided to make the tough decision of suspending the exports from the international stores to Australia. After the company made these changes, it listened to the feedback of the customers, and then they made an assessment of how they can respond. Since then, the company has been focusing on the efforts on coming up with the complex infrastructure which is required so that the exports of the low-valued goods to Australia can be enabled while complying with the GST laws. The company had earlier switched off the access to the overseas stores in May and stated that it wouldn’t be possible for the e-commerce giant to comply with the laws.
When, in May, the announcement was made, the company stated that customers would be able to do shopping from amazon.com.au, which got launched last year in the month of December, but the addresses of the Australians would be blocked from other sites. If any Australian visits other sites, they would be redirected to the Australian site.
Stock Performance: Amazon is one of the components of FAANG stocks (Facebook, Apple, Amazon, Netflix and Alphabet’s Google) and is considered as a giant in the technology sector. Any negative momentum in this stock can impact the broader markets, and the global market participants might opt to liquidate their holdings. On November 21, 2018, Amazon ended the day at US$1,516.73 per share which implies a rise of US$21.27 per share or 1.42%.
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