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Is there a Future for Amazon Shops?

Is there a Future for Amazon Shops?
23/04/2019

Amazon has grown into the world’s largest online retailer since being founded by Jeff Bezos in 1994. Business is booming, with the American entrepreneur currently being named as the world's richest man, boasting an estimated net worth of $142 billion.

Initially, he launched the company as an online book retailer, leaving his secure job at a Wall Street investment management firm to conduct his new business on a second-hand computer in his garage. Today, Amazon has captured around one-third of the United States' e-commerce sales market.

Employing more than 600,000 people across the globe, Amazon also owns Zappos, LOVEFiLM, IMDB and Woot. It has its own movie and television studio, Amazon Studios, owns Amazon Publishing, and produces consumer electronic products, such as Kindle e-readers, Echo devices, Fire tablets and Fire televisions.

Amazon shops

Now, having established world domination of the e-commerce market, Amazon is branching out in a bid to expand its portfolio with the Amazon Fresh and Amazon Restaurants divisions.

The company is aiming to capture the grocery and meal delivery market with its new Prime Pantry strategy, persuading people to buy food, snacks and household supplies online. Its "Dash" buttons enable customers to enjoy simple one-click ordering of products.

As well as Amazon's online presence, business analysts said the company needed to have a physical presence on the high street too, in order to carry on growing. Bezos now has a new goal - launching a chain of cashier-less "Go" convenience stores across the world.

The first Amazon convenience store opened in San Francisco in October 2018, with customers urged to "grab and go", with their purchases being automatically charged to their Amazon account.

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