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Finally, "Amazon Department Store" is coming too! (I)
Si Gyeongmin
Aug 26, 2021
Since the opening of the first supermarket, Amazon's ambitions for physical retail have long been revealed.
Over the years, from the self-service supermarket Amazon Go, the physical bookstore Amazon Bookstore, the retail boutique Amazon 4-stars, and the acquisition of the Wholefoods supermarket chain, Amazon has been entering the physical industry step by step, expanding the field farther and farther.
This ambition is also easy to understand-although online commerce is booming, it has so far only accounted for 20% of the entire US retail industry.
Physical retail, which still occupies 80% of the market, is still the main way for people to buy things, and Amazon will not be satisfied with only selling fresh food.
The traditional retailers in the United States, such as Macy's, Sears, and JC Penny, are getting worse and worse under the pressure of Amazon, and some of them have even closed down.
In 2017, Amazon bought Macy's flagship store in downtown Seattle and transformed it into the newest office. Although it looks like a real estate transaction, it marks the trend of the era that traditional retail is being replaced by online commerce.
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