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Amazon is expanding beyond books in Brazil

The online retail giant has officially begun sales of electronics and appliances to the Brazilian market, reports Bloomberg. Though Amazon has operated in South America’s largest economy since 2012, they at first only sold e-books before expanding to physical books in 2014. But that was it. Now with its move into electronics and appliances, Amazon is set to take on Brazilian retailers outside of the book trade–and it has those retailers worried. Some Brazilian retail stocks are down as much as 20% since the news of Amazon’s expansion in the country first was rumored a week ago.MG