Amazon CEO Andy Jassy says tariffs have not dented client spending

Amazon CEO Andy Jassy mentioned Wednesday that the corporate hasn’t seen any indicators of shoppers tightening their wallets within the face of President Donald Trump’s sweeping tariffs.

Jassy’s feedback got here throughout Amazon’s annual shareholder assembly, which was held just about on Wednesday.

“We have now not seen any attenuation of demand at this level,” Jassy mentioned throughout a question-and-answer portion of the assembly. “We additionally have not but seen any significant common promoting worth will increase.”

Amazon and different retailers proceed to digest the impression of Trump’s tariffs. Rival retailer Walmart warned final week that buyers may begin seeing worth hikes from tariffs later this month and in June. Inside days, that sparked the ire of Trump, who urged the corporate to “EAT THE TARIFFS.”

Goal mentioned Wednesday it is going to possible have to hike costs on some gadgets, whereas House Depot mentioned it expects to take care of its present pricing ranges.

Jassy mentioned final month the corporate made some “strategic ahead stock buys” to refill on items and is “fairly maniacally targeted” on retaining costs low for consumers.

Some third-party sellers, which account for roughly 60% of merchandise bought, have elevated costs on sure gadgets, whereas others have opted to maintain costs regular, Jassy mentioned on Wednesday.

“I believe that the variety and the dimensions of our market actually helps prospects have the very best number of the very best costs,” Jassy mentioned.

Earlier than the question-and-answer portion, Amazon traders listened to eight outdoors proposals addressing the corporate’s emissions reporting, warehouse working circumstances and the local weather impression of its knowledge facilities, amongst others. The entire resolutions, which Amazon beneficial traders vote towards, have been rejected. Vote totals are anticipated to be launched quickly after the assembly.