Amazon is shutting down all of its physical bookstores, as well as its Amazon Pop Up stores, which sold a variety of electronics and other hot items.
The stores that are closing are in the U.S. and U.K. Amazon will help affected employees find new jobs at other companies. Amazon said that workers who decide not to stay will be given a separation package.
The news of the store closings was first reported.
Amazon has launched a variety of brick-and-mortar concepts, from supermarkets to retail stores offering Amazon- branded electronics like Fire tablets and Echo smart speakers. The 4-star stores tried to mesh Amazon's in-store and offline operations by featuring top-selling products in its web store.
Amazon's retail business has been lagging in recent years. Whole Foods and Fresh stores saw lower sales in 2021.
After coming off its lowest growth rate in over a decade, Amazon is trimming its retail footprint. The stock of Amazon was the worst performer in the Big Tech group last year.
The company remains committed to building long-term physical retail concepts and technologies. They pointed to Amazon's recently launched Style stores, which are the company's first physical clothing stores. The company said it would focus on its Amazon Fresh and Whole Foods Market grocery chains, Amazon Go convenience stores, and the Just Walk Out cashierless technology.
Dash Carts, a shopping cart filled with sensors that lets shoppers check out without a cashier, is one of the new retail technologies introduced by Amazon.
Amazon's physical stores unit is overseen by a man who used to work for Jeff Bezos.
The $644 billion market is fueled by the rise in returns.
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