Amazon plots new grocery offering
E-commerce giant Amazon is plotting a new grocery business in the US, sources told the Wall Street Journal.
The online retail giant is planning to strengthen its supermarket brand by purchasing local grocery chains that operate at least a dozen stores, the report claims.
The first store is expected to open in Los Angeles by the end of the year, with leases signed for two more locations, set to open by early 2020. The business is in talks to bring the grocery stores to shopping malls in San Francisco, Seattle, Chicago, Washington, D.C. and Philadelphia.
Amazon, which bought the healthy supermarket chain Whole Foods for $13.7 billion in 2017, had “ambitions in this space” for a long time, the source told the Wall Street Journal.
Amazon’s big rival, Walmart has already been preparing for a battle with the retail giant, the source said. Walmart is introducing grocery pickup at 3,100 stores by next January and will also offer grocery delivery from about 800 more stores by the end of 2019.
Inside Retail Polls
Department store Myer has further streamlined its executive team, cutting 35 roles from its head office in Melbourn… https://t.co/jEPQL27ujx5 days ago
Clothing retailer Jeanswest is the latest retailer to enter voluntary administration, citing difficult trading co… https://t.co/xyBNwDPO0J7 days ago