CEO Andy Jassy said that Amazon (AMZN) hasn’t experienced a noticeable decline in customer demand in light of the tariffs. “We’ve not seen any attenuation of demand at this point,” answered Jassy in a response to a question regarding tariffs at Amazon’s annual shareholder meeting on Wednesday. Amazon acts as a proxy for U.S. e-commerce health given that it is the country’s, and also the world’s, largest online retailer.
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Amazon’s Demand and Prices Shielded from Tariffs
Additionally, Jassy also said that Amazon hasn’t “seen any meaningful average selling price increases.” This comes despite Walmart (WMT) warning that it would soon have to raise prices for some items in order to offset rising duties. Meanwhile, Target (TGT) CEO Brian Cornell said that the store would only raise prices as a “very last resort” in response to tariffs.
Despite the reassurance from Jassy, AMZN stock is still trading in the red on a weak day for the entire market.
