Amazon is bringing its online talents to the brick and mortar world by building a store in New York City that sells some of the e-commerce giant’s best rated products.
This novel idea of using an online data advantage to put items customers really want within their reach at all times might just work.
As big retailers compete to find the best mix of physical locations and online sales, innovations like this could be the key to success. Laura Stevens reports in The Wall Street Journal:
Amazon.com Inc. AMZN +1.38% on Wednesday said it is opening a new bricks-and-mortar store that will feature a selection of goods curated partly by local consumers’ online shopping habits, part of its efforts to reshape the way people shop.
Amazon 4-star will open to the public on Thursday in the SoHo neighborhood of New York, the company said in a blog post. Items include those ranked four stars or above and will feature a variety of goods.
“We started with some of the most popular categories on Amazon.com including devices, consumer electronics, kitchen, home, toys, books, and games, and chose only the products that customers have rated 4 stars and above, are top sellers, or are new and trending,” the company said.
Amazon 4-star adds to the online retail giant’s other forays into physical retail over the past few years, including more than a dozen bookstores, a handful of cashierless Go stores and its recently acquired chain of Whole Foods grocery stores.
Read more here.
Jeremy Jones, CFA
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