News

Amazon reportedly planning to open department stores

Amazon is reportedly planning to open a chain of larger retail outlets similar to department stores that will sell everything from household goods to clothing.

Seattle based Amazon are expanding into larger retail locations of about 30,000 square feet, aiming to create one-stop-shopping destinations where it will likely showcase its private label brands, according to a Wall Street Journal report. The first stores are likely to be in Ohio and California, according to the report, adding that the timing of their opening and specific details about them, including which spaces they might be taking over, was not immediately clear.

As a result of the COVID-19 pandemic the likes of J.C. Penney and Neiman Marcus Group have filed for bankruptcy along with other big names in the sector. Amazon, on the other hand, has seen its fortunes skyrocket during the pandemic as it profited from an increasing shift toward e-commerce. Its booming business even helping to bankroll founder Jeff Bezos’ trip into space.

Amazon’s move into physical retail predates the virus, however. The company started with brick and mortar bookstores back in 2015, later acquiring Whole Foods for $13.4 billion in 2017. More recently, it opened cashierless Amazon Go stores in the US and UK. Not to mention its highly-curated Amazon 4-star stores and Amazon Pop-Ups inside malls.

Amazon’s department stores would also allow it to showcase its range of electronics, from its Fire TVs and tablets to Echo speakers to its Ring home security range, and even its Luna cloud gaming service. Notably, big box retailers have shown that emboldened shoppers are returning to stores. Both Walmart and Target recently exceeded estimates in their respective second quarters as sales rose across most categories.

ARTICLE: PAUL MURDOCH

MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: SEATTLE TIMES

The following two tabs change content below.
Paul, 37, is from Scotland in the UK, but currently lives and works in Bangkok. Paul has worked in different industries such as telemarketing, retail, hospitality, farming, insurance, and teaching, where he works now. He teaches at an all-girls High School in Bangkok. “It’s a lot of work, but I love my job.” Paul has an active interest in politics. His reason for writing for FBA is to offer people the facts and allow them to make up their own minds. Whilst he believes opinion columns have their place, it is also important that people can have accurate news with no bias.

Leave a Reply