Amazon to ‘open department stores’

Amazon is planning to open department stores in the US according to sources reported by the Wall Street Journal.

Amazon’s new outlets will be around 30,000 square foot in size and sell products from well-known third-party brands as well as its own according to the sources.

These products will reportedly include furniture, clothing, and electronics.
The first stores are planned to launch in California and Ohio according to the sources.

The news comes as many traditional department stores have reduced operations; Debenhams closed all its remaining stores in May and John Lewis announced it would cut 1,000 jobs in July.

In March, data from US bank Wells Fargo found Amazon was already the most popular clothes retailer in the US.

The e-commerce giant has continued to increase its brick-and-mortar footprint since it first acquired US grocery chain Whole Foods in 2017.

Amazon has opened five “Amazon Fresh” stores in London during 2021.

Amazon reported last month that its core retail business experienced a 15 per cent sales growth rate for its most recent quarter, the slowest since 2019.

The e-commerce giant attributed the results to consumers doing “things besides shopping” as pandemic restrictions have loosened.

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