FILE PHOTO: The logo of the web service Amazon is pictured in this June 8, 2017 illustration photo. REUTERS/Carlos Jasso/File Photo

(Reuters) - Amazon.com Inc is going to lower some fees it charges third-party sellers on its marketplace, the company said on Thursday.

The marketplace unit allows third-party sellers, who account for over 50 percent of the total units sold on Amazon, to sell their wares on the ecommerce giant’s website and app.

“We expect newly announced marketplace fee changes to slightly lower overall take rates, although with the benefit of greater product selection and volume,” analysts at Baird said.

The analysts said the move would help the company better compete with retailers such as Walmart and Target.