Amazon shuts 68 retail stores to focus on grocery chain
Tech giant Amazon has announced to shut down more than 60 of its retail stores including Amazon Books across the United States and the United Kingdom. The retail giant confirmed to ZDNet late on Wednesday that it is shutting over 60 bookstores, Amazon Pop-Ups, and “Amazon 4-star” shops.
The e-commerce giant has said that it now plans to shift its focus to opening more fashion and grocery stores instead. Amazon said it’s still investing in Amazon Fresh, Whole Foods Market, Amazon Go, and its Amazon Style stores.
Commenting on the matter, Amazon spokesperson said, “we remain committed to building great, long-term physical retail experiences and technologies”.
To recall, Amazon launched its first physical bookstore in Seattle in 2015, and later expanded brick-and-mortar stores across the US and abroad. The company’s retail footprint expanded with the $13.7 billion expansion of Whole Foods in 2017, along with its own Amazon Fresh grocery stores.
Amazon has also been working on ‘Just Walk Out’ cashierless shopping technology at Amazon Go convenience stores.
In 2018, the company launched Amazon 4-star stores, which sold top-selling items on Amazon.com, as well as items rated four stars or above by online buyers.
Amazon Pop Ups, the stores featured rotating brands and themes, aimed to give customers a “try-before-you-buy” experience.
The company recently announced the launch of Amazon Style, a retail store focused on fashion, said the report.
In Q4 2021, the company reported its physical retail business generated $4.68 billion, up from $4.02 billion in the year-ago quarter.
(IANS report)
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