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Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) Google made a potentially groundbreaking announcement Thursday regarding its e-commerce unit. The company stated that it would completely get rid of the fees it charged stores for transactions with consumers through the Google Shopping service.
Existing resellers on the site will have their accounts automatically transferred to the 0% plan in the coming weeks. New Google Shopping users will be added to the program without commission.
It is a transparency to weaken the dominance of planet Earth’s e-commerce giant, Amazon.com (NASDAQ: AMZN), which showcases products from thousands of foreign traders around the world.
Alphabet’s Google makes the transition from Amazon to Google Shopping undeniable and simple. In his press release on removing payments, he wrote in revealingly that merchants can download product flows in the format they used for their Amazon online “stores.”
Google said in its press release that the switch to 0% commissions ensures that “it is even more an open platform for virtual commerce, where traders of all sizes can sell for free the equipment and suppliers of their choice.”
However, not all significant Google moves will be loose. The titan of the generation will continue to sell places for Shopping products to appear in paid tickets above loose listings generated from searches on Google’s main site; Classified product ads, which are also paid for, will also be placed on those pages. On the other hand, loose classified ads for products sold through third parties will only appear on the grocery purchase tab on Google’s main site.
On Thursday, The two categories of Alphabet inventory fell by just over 3%. Amazon was reduced to a higher rate. Everything fell harder than the inventory market in total that day.