Amazon.com has launched a Prime membership service for businesses, looking to replicate in the workplace the quick delivery of online orders that made it a go-to shopping destination for households.
Shares of industrial suppliers WW Grainger and Fastenal Co., which both sell industrial and construction supplies, fell on the news. Investors are concerned the world’s biggest online retailer will use low prices and convenience to win the suppliers’ business in the same manner it took market share from book stores, electronics stores, department stores and big-box retailers.
Amazon Business available in the U.S. and Germany, offers free two-day delivery to companies paying $499 to as much as $10,099 a year depending on their size, Amazon tells Bloomberg. The subscription program could also win business from office supply stores such as Staples and Office Depot.
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