Amazon Is Shutting Down Stores Across US and UK

Amazon Is Shutting Down Stores Across US and UK

(RightWing.org) – Another retailer has announced that it’s closing many of its brick-and-mortar stores because they can’t compete with online sellers like Amazon. The twist in the tale? This time the affected retailer is Amazon itself.

On March 2, Amazon announced that, seven years after it entered the offline retailing market with a bookstore in Seattle, it’s planning to close its 68 bookshops and 4-Star stores. Revenue from the physical stores has been slowly falling as people shift to shopping online, and the COVID-19 pandemic has accelerated the process. In the last quarter, Amazon’s brick-and-mortar stores, which are all located in the US and UK, brought in only 3% of the company’s revenue.

Now, Amazon says it plans to concentrate its physical retailing on Whole Foods Market, which it bought in 2017, its Amazon Fresh food stores and a new chain of fashion-oriented Amazon Style stores which should be opening later this year. The company isn’t saying how many employees will be affected by the closure of its existing locations. However, a company spokesman said all affected employees will be given a choice between taking severance pay or finding a job somewhere else in the company.

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