Amazon shuts over 60 retail stores; Keep reading

The gigantic consortium Amazon has announced to shut down most of its brick-and-mortar storefronts, including Amazon Books, across the US and the UK, as the e-commerce giant aims to shift its focus on opening more fashion and grocery stores. The retail giant confirmed to ZDNet late on Wednesday that it is shutting over 60 bookstores, Amazon Pop-Ups and “Amazon 4-star” shops. The company said it’s still investing in Amazon Fresh, Whole Foods Market, Amazon Go and its Amazon Style stores.

Amazon launched its first physical bookstore in Seattle in 2015, and later expanded brick-and-mortar stores across the US and abroad. Later, Amazon’s retail footprint expanded with the $13.7 billion expansion of Whole Foods in 2017, along with its own Amazon Fresh grocery stores. Amazon has also been working on ‘Just Walk Out’ cashier-less shopping technology at Amazon Go convenience stores. In 2018, the company launched Amazon 4-star stores, which sold top-selling items on Amazon.com, as well as items rated four stars or above by online buyers. The company recently announced the launch of Amazon Style, a retail store focused on fashion, said the report. In Q4 2021, the company reported its physical retail business generated $4.68 billion, up from $4.02 billion in the year-ago quarter.

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