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Report: Amazon wants brands to sell exclusively online

Amazon.com Inc. is planning to woo brands such as Cheerios and Oreo to sell their products exclusively through online retailers, Bloomberg News reported March 30.

The e-commerce giant has reportedly invited executives from companies such as General Mills and Mondelez to a three-day event in May, where they will be toured at an Amazon fulfillment center and encouraged to bypass brick-and-mortar stores.

The objective behind the move is to refocus efforts into designing products that can be immediately delivered to customers, according to the report.

Retail chains are increasingly investing in e-commerce, with Wal-Mart offering a free two-day delivery service for orders worth $35 and up.