JOHN K THORNE
The company is shifting its focus to delivering online food orders and expanding the Whole Foods Market network, which specializes in natural and premium products. Some of the closing locations will be transformed into Whole Foods stores.
Amazon intends to open more than 100 new Whole Foods stores over the next few years. The company acquired the Whole Foods chain in 2017 for approximately $13.5 billion.
The company commented, "We have seen positive signs in physical grocery stores under the Amazon brand, but we have not yet developed a truly unique consumer experience with the right economic model required for large-scale growth."
Amazon has been testing offline retail operations for over a decade and has previously closed numerous branded stores, as well as more than half of its Amazon Go locations, which use electronic payments without the need for lines.
The new Amazon Fresh stores initially faced challenges, but following an audit, they are now working on launching new locations, according to a report by The Wall Street Journal.
At the same time, Amazon announced plans to open its largest retail store near Chicago, which will be as large as two Target stores. Sources from The Wall Street Journal indicate that the company aims to open additional large-format stores across the United States.
source: wsj.com
Amazon intends to open more than 100 new Whole Foods stores over the next few years. The company acquired the Whole Foods chain in 2017 for approximately $13.5 billion.
The company commented, "We have seen positive signs in physical grocery stores under the Amazon brand, but we have not yet developed a truly unique consumer experience with the right economic model required for large-scale growth."
Amazon has been testing offline retail operations for over a decade and has previously closed numerous branded stores, as well as more than half of its Amazon Go locations, which use electronic payments without the need for lines.
The new Amazon Fresh stores initially faced challenges, but following an audit, they are now working on launching new locations, according to a report by The Wall Street Journal.
At the same time, Amazon announced plans to open its largest retail store near Chicago, which will be as large as two Target stores. Sources from The Wall Street Journal indicate that the company aims to open additional large-format stores across the United States.
source: wsj.com