Amazon Readying a Local Services Marketplace: Report

Had a long day? Amazon wants to get you a massage

The ecommerce retailer is preparing to launch a digital marketplace for local services, pushing into turf currently occupied by companies like Yelp. The new platform could launch this year, according to a report from Reuters.

The marketplace would primarily connect customers with services such as home repair. It was not immediately clear if the company would also use it to feature local craftmakers, a move that would also bring it into competition with Etsy

Amazon continues to dominate online retail sales, with 2013 revenue of $67.9 billion accounting for more than the next nine companies combined. Margins remain tight, meaning Amazon generates little profit from each sale, resulting in profit that has delivery service as well as a grocery delivery offering. Read more...