Amazon shuttering its physical bookstores and 4-star shops
NEW YORK
E-commerce titan Amazon is closing all of its brick-and-mortar bookstores, as well as its 4-star shops and pop up locations, as the online retail behemoth reworks its physical footprint.
The Seattle-based company said on March 2 that the move, which affects 66 stores in the U.S. and two in the United Kingdom, will enable it to concentrate its efforts on Amazon Fresh, Whole Foods Market, its convenience concept called Amazon Go and its upcoming Amazon Style stores.
Amazon Style, which will sell fashion and accessories, is set to open in a Southern California mall later this year.
“We remain committed to building great, long-term physical retail experiences and technologies and we’re working closely with our affected employees to help them find new roles within Amazon,” the company said in a statement.
Amazon opened its first brick-and-mortar bookstore in 2015, two decades after it began selling books online and helped drive a number of shops out of business. Amazon’s 4-star shops, which first made their debut in 2018, carry a limited selection of best-selling products from top categories that Amazon.com sells, including devices, consumer electronics, toys and games.
The move comes as Amazon.com Inc.’s overall revenue growth is slowing, and it’s looking for new ways to reignite sales.
The plan for a physical clothing store comes as authorities and competitors raise warnings over the tech giant having too much clout in retail.
Amazon acquired the Whole Foods Market grocery chain for $13.7 billion in 2017, significantly expanding the e-commerce giant’s presence in physical retail.
