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Amazon Enables In-Store Pickup for Third-Party Sales

Amazon enabled third-party sellers to offer products on the site and then deliver the products themselves or let buyers pick them up in the sellers' stores..
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Amazon  (AMZN) - Get Amazon.com, Inc. Report Thursday launched a service, Local Selling, to let third-party businesses sell their products on Amazon for in-store pickup or for local delivery by the sellers.

“With Amazon Local Selling, sellers can quickly and easily expand their multichannel offerings by listing products in Amazon’s store and offering them to local customers in designated areas for in-store pickup on the same day that they place an order,” the company said.

“When making an order, customers can select in-store pickup and receive a notification when it is ready that day. Or they can choose fast local delivery by the seller.”

More than half the products purchased on Amazon come from third-party sellers, mostly small and medium-sized businesses, the company said.

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Amazon Local Selling is now available at a variety of national and local retailers, including Best Buy  (BBY) - Get Best Buy Co., Inc. Report and Mattress Warehouse.

Amazon stock recently traded at $3,434, up 0.6%. It has dipped 4% over the last three months amid valuation concerns.

Last week, Cowen reiterated its outperform rating on Amazon, citing the strong fundamentals of its retail business as they relate to younger customers. Cowen affirmed its price target for the company at $4,300.

“Our survey data [of Generation Z and millennials] suggests that Amazon continues to improve the number of touch points along a consumer's path to purchase in the apparel and accessories vertical,” said Cowen analyst John Blackledge.

“AMZN is now the top location for consumers to begin a product search, to research a product prior to an online or in-store purchase, and the leading platform to complete the purchase.”