E-commerce giant Amazon (AMZN) has launched a quick delivery service in the United Arab Emirates called Amazon Now that offers groceries, cosmetics, electronics, and household items in 15 minutes or less. According to the company, the service is available 24/7 and covers a wide range of everyday essentials. In addition, deliveries are powered by micro-fulfillment centers, which are small warehouses located within UAE neighborhoods. Each center’s inventory is tailored to meet local demand.
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Interestingly, in some areas, Amazon said orders can arrive in as little as six minutes. Moreover, Prime members in the UAE will get free Amazon Now delivery on orders over $6 (AED 25), while smaller purchases will have a delivery fee of about $1 (AED 6). It’s worth mentioning that this is the latest expansion of Amazon Now, which first launched in Bangalore and New Delhi earlier this year.
Indeed, Amazon has been steadily growing its logistics and fulfillment network over the years, which has allowed it to speed up deliveries and take more control over its supply chain. As a result, Amazon has already moved past its original two-day delivery standard by offering same-day and even drone-based drop-offs in parts of the U.S. and Europe, where items can be delivered in under 30 minutes.
What Is the Price Target for AMZN Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Amazon stock based on 42 Buys assigned in the past three months. Furthermore, the average AMZN stock price target of $268.45 per share implies 21.2% upside potential from current levels.
