{"id":18240,"date":"2022-03-02T22:51:15","date_gmt":"2022-03-02T22:51:15","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/03\/02\/amazon-is-scaling-back-its-physical-retail-footprint-in-a-big-way\/"},"modified":"2022-03-02T22:51:15","modified_gmt":"2022-03-02T22:51:15","slug":"amazon-is-scaling-back-its-physical-retail-footprint-in-a-big-way","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/03\/02\/amazon-is-scaling-back-its-physical-retail-footprint-in-a-big-way\/","title":{"rendered":"Amazon is scaling back its physical retail footprint in a big way"},"content":{"rendered":"

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The big picture:<\/strong> Amazon hasn\u2019t shied away from experimenting with brick-and-mortar concepts in recent years, which is a bit ironic considering the Internet shopping pioneer\u2019s role in disrupting traditional retail in its formative years. Its 4-star stores, for example, only sell items that have a four-star or higher rating, are top sellers or are new and trending on Amazon.com. <\/p>\n

The e-commerce giant confirmed to CNBC<\/a> that it will be shutting down all of its Amazon Books physical stores in the US and UK, along with its Amazon 4-star<\/a> and remaining Amazon Pop-Up stores. Closure dates will vary by location, the company said. All told, nearly 70 stores will be going away.<\/p>\n

An Amazon spokesperson said they will help impacted employees find roles elsewhere in the company. Those who decide to move on will be given severance.<\/p>\n

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Growth at Amazon has slowed as of late, however, which is reflected in the company’s share value. Year to date, the stock is down nearly 11 percent.<\/p>\n

One of its bigger acquisitions, Whole Foods, is still going strong. Amazon earlier this week opened its first Whole Foods store with Just Walk Out technology<\/a>, allowing shoppers to grab what they need and skip the checkout line thanks to the combined magic of computer vision, sensor fusion and deep learning.<\/p>\n

The company is also planning to launch an apparel store called Amazon Style<\/a> in Glendale, California later this year featuring clothing and high-tech changing rooms.<\/p>\n

Image credit Tim Mossholder<\/a><\/p>\n<\/p><\/div>\n