Amazon to open a new ‘4-Star’ physical store concept in New York
Amazon.com Inc. will open a new store in New York City on Thursday featuring top-selling and highly rated products, the online retailer’s latest effort at physical stores, where most consumer spending still occurs. “Amazon 4-star’s selection is a direct reflection of our customers—what they’re buying and what they’re loving,” the company said in a blog post. The company will have 49.1% of online sales in the US this year, but just 4.9% of all retail spending since most money is still spent in stores, according to EMarketer Inc. Amazon’s other physical stores include about 20 bookstores, its 2017 acquisition of Whole Foods Market and its AmazonGo concept, a convenience store that lets people check in with a smartphone app, grab what they want and leave without going to a cash register. The company is considering a plan to open as many as 3,000 new AmazonGo locations in the next few years, people familiar with matter told Bloomberg last week.
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