At Amazon’s annual shareholder meeting on Wednesday, CEO Andy Jassy told viewers (the conference was virtual) that tariffs have not had a “meaningful” effect on prices.
“We have not seen any attenuation of demand at this point,” Jassy said, per CNBC. “We also haven’t yet seen any meaningful average selling price increases.”
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Jassy said that Amazon can keep prices low because its platform has a wide range of sellers (more than 60% of products sold are third-party, the company notes).
“I think that the diversity and the size of our marketplace really helps customers have the best selection of the best prices,” Jassy said at the meeting.
“When you have two million sellers, they’re not all going to take the same action,” he added, per Reuters.
Andy Jassy, chief executive officer of Amazon, in February 2025. Michael Nagle/Bloomberg | Getty Images
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Tariffs are affecting retailers in different ways. Home Depot announced this week that it would not be raising prices (in the immediate future) due to tariffs. But not all companies are on the same path.
Walmart’s CEO said that shoppers will see elevated prices at its stores in the next couple of weeks because the cost increases are “more than any retailer can absorb.”
Target, Best Buy, and Mattel all said customers will likely see price increases on some products.
