SEATTLE — Amazon.com has launched a Prime service for businesses, looking to replicate in the workplace the quick delivery of online orders that made it a go-to shopping destination for households.
Shares of industrial suppliers WW Grainger Inc. and Fastenal Co., which both sell industrial and construction supplies, fell on the news. Investors are concerned the world’s biggest online retailer will use low prices and convenience to win the suppliers’ business in the same manner it took market share from book stores, electronics stores, department stores and big-box retailers.
After the announcement, Grainger closed down 5.3 percent and Fastenal closed down 3.6 percent.
