Amazon ready ‘to go big’ on physical stores
By Sarah Wood | 14th February 2023
Amazon is poised to focus more on its bricks-and-mortar stores.
The online giant's chief executive, Andy Jassy, told the Financial Times that the company had faced a series of setbacks around its physical stores to date, due to the pandemic.
Amazon acquired Whole Foods, which used to have a store in Cheltenham, for $13.7bn five years ago, but has yet to disrupt the US grocery sector.
It slowed down its rollout of Amazon Fresh stores during 2022, but Jassy said it is now "experimenting with selection, checkout formats, assortment, price points", before taking physical stores to the next level.
He said he is hopeful that the company has a format which will work, which it wants to 'go big on' in 2023.
Amazon's Just Walk Out technology for its Amazon Fresh and Amazon Go stores allows shoppers to miss the check-out process on their way out.
Punchline said: "It appears Amazon wants a slice of everything. If it is going to expand its grocery business, it could be a blow to the UK's Big Four supermarkets. But is it really possible for a business to be good at everything? Only time will tell."
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