The retail giant is going towards the European continent in full swing.
On January 22, Amazon.com announced that it will be expanding its operations in the European region by creating more jobs this year. Previously, it had already created as many as 40,000 jobs out of which 10,000 were just added last year. Since 2010, the e-commerce giant has invested as much as $15 billion in the EU region.
The European region has proved to be quite lucrative mainly because during the holiday season many new subscribers joined Amazon Prime and online sales are on the roll too. According to the press release by the company, it will be turning its investment towards research and development in the continent. Additionally, service offering as well as the infrastructure for operations will also be improved in Europe.
The consumer demand for Amazon services and products has increased which has further provided a profitable business opportunity in the market; with the help of this the Amazon will be able to expand its workforce along with the network. Xavier Garambois, the European Union Retail Vice President said in the press release that last year, the retailer created over 10,000 jobs and wants to create thousands more in 2016 at all levels starting from scientists to digital media experts including customer service associates.
The European market headquarter has been constructed in London six months ago and during the year; it plans to add 2,500 employees in London and all across the continent. Apart from that, the online shopping company also launched its Amazon Pantry Service back in November 2015 in which it offered over 200 non-perishable grocery items. It is believed that for the year, the company will likely work on expanding its Pantry Service in the continent through grocery and food delivery services via Amazon Prime Now and Fresh.
Furthermore, Amazon Web Service is also likely to boost its services in the region. A year over year growth of 80% was seen in the division. It will be building its latest data center in the UK which will be the company’s third data center in the European region.
Presently, Amazon stock is being traded at a share price of $596.38 indicating an increase of 3.71%. It reported earnings per share of $0.69 with price to earnings ratio of $865.12. The current market capitalization stood at $269.55 billion.