There are not going to be any more Amazon Fresh grocery stores coming up. Rather, as Amazon CEO Andy Jassy stated, the company is taking time out to introspect and deliberate on ways to make the chain stand out from the competition, the FinancialPost reported. The Amazon Fresh stores received fresh impetus during the pandemic as people opted for online ‘contact-less’ means to get their essentials delivered. The company has long been aiming to make it big in the grocery segment something that would make its business line more complete what with its primary retail site taking care of almost every other requirement that one will have in their daily lives.
“We’re doing a fair bit of experimentation today with those stores to find the format that we think resonates with customers, is differentiated in some meaningful fashion, and where we like the economics,” said Andy Jassy during the company’s fourth-quarter earnings call.
The CEO expressed confidence in hitting upon a winning formula that will let it take better care of consumer needs and hit a path of growth. The company has also been the owner of Whole Foods Market since 2017 but has been channeling its energy and resources more into its Amazon Fresh line of stores. That said, Jassy also stressed its Whole Foods business has been doing well and has been making profits as well.
Meanwhile, UBS analysts stated Amazon right now commands just 4 percent of the grocery market in the US, which points to immense scope for growth in the future. The company however has stopped the previous scheme of offering free deliveries to Prime members on orders above $35. Instead, most of its grocery deliveries are going to be chargeable henceforth. The company has also been encouraging in-store pick-up of orders placed online and has emphasized delivering a smooth customer servicing experience as well. Some of its stores are cashier-less too, featuring Just Walk Out technology instead.
With a keen interest in tech, I make it a point to keep myself updated on the latest developments in the world of technology and gadgets. That includes smartphones or tablet devices but stretches to even AI and self-driven automobiles as well, the latter being my latest fad. Besides writing, I like watching videos, reading, listening to music, or experimenting with different recipes. Motion picture is another aspect that interests me a lot and maybe I’ll make a film sometime in the future.