Google’s new shopping service challenges Amazon with US release
Neuberger Berman portfolio manager Elias Cohen and Thiel fellow & tech adviser John Meyer discuss the recent market rally and the controversy surrounding Google over their work in China.
In a bid to compete with Amazon, Google has released its shopping platform in the U.S.
The service was first announced in May, but was only tested in a few places including France, Forbes reported.
Though the tech giant won’t be selling anything directly, it will offer recommendations to users based on their search history and will back certain items with a "Google guarantee" in case users want to return items, their orders are late or they’re having issues with refunds, according to the original announcement.
"For retailers and brands, it brings together ads, local and transactions in one place to help them connect with consumers at the right time," the May announcement said.
Google is working to compete with Amazon not as a fellow retailer, but instead as a search engine for shopping, according to Forbes.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 180.03 | +3.52 | +1.99% |
| AMZN | AMAZON.COM INC. | 209.67 | +2.58 | +1.25% |
| WMT | WALMART INC. | 84.12 | +0.68 | +0.81% |
| COST | COSTCO WHOLESALE CORP. | 916.30 | +17.05 | +1.90% |
| TGT | TARGET CORP. | 151.37 | +4.09 | +2.78% |
The outlet reported that companies have been moving their ads to Amazon from Google because more shoppers are searching for products directly on Amazon instead of searching on Google first.
Customers who use the new shopping platform will be able to make purchases through Google or directly on the retailer’s website. There are also recommendations for where to purchase items in-store.
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According to Forbes, many companies that have partnered with Google in the past are featured on the platform, including Walmart, Costco and Target.