The report states that while Amazon is padding its real estate portfolio, it is not interested in abandoned department store space.
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The report states that Amazon.com Inc. Targets U.S. About 1,500,000 small warehouses are to be opened in the city – many of them in suburban locations – as it puts its stake in the fight against Walmart.
The Seattle-based retail giant, which was holding flat during epidemics when it could not meet demand for basic items such as toilet paper and milk, is expanding its delivery capabilities with more centers in cities and suburbs, according to the report. Bloomberg report.
Amazon AMZN,
Chief executive Jeff Bezos is investing billions in these new warehouses and improving the company’s transportation capacity, Bloomberg said.
As demand for online goods increased in the early days of the epidemic, Amazon Prime members struggled to deliver on its two-day delivery promise. But since then it has hired 175,000 workers who have got the company back on track.
Walmart WMT,
And target TGT,
WLmart recently launched WalLmart Plus, to which Amazon Prime responded, as well as enhancing their game with a single day delivery through their vast network of stores. The Walmart Plus costs 21 21 less than Amazon’s $ 119 annual subscription price, but requires a minimum purchase of 35 for free delivery.
The report states that while Amazon is padding its real estate portfolio, it is not interested in abandoned department store space.
According to the report, citing unnamed sources, the Struggling Department stores, which shut down sites, including JCPenny, are “last resort options.”
In the New York metro area, Amazon bought two East Fairway Market stores in New Jersey, but it’s not clear what those spaces will be used for, as Amazon did not disclose that information in a court filing in the Fairway bankruptcy case.
The report originally appeared on NYPost.com.
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