From NASDAQ: 2024-06-26 11:23:00

Amazon is expanding its grocery retail presence in the US with the opening of a new Amazon Fresh store in New Jersey. The 35,500-square-foot store offers a variety of grocery items from local and Amazon private brands, along with convenient shopping features like Amazon Dash smart carts and palm-scanning Amazon One technology.

In addition to the new store in New Jersey, Amazon is set to open another Amazon Fresh store in Virginia and introduce Whole Foods Market Daily Shop stores in Manhattan. These quick-shop stores will offer grab-and-go meals, snacks, produce, bread, alcohol, supplements, and more. Amazon’s smart shopping cart, Dash Cart, powered by computer vision technology, also enhances the shopping experience.

Amazon’s growing grocery efforts will help it compete with rivals like Walmart, Costco, and Target, which are also expanding their grocery businesses. Walmart is introducing electronic shelf labels for real-time pricing updates, while Costco’s investments and membership focus drive its grocery business. Target is testing generative AI technology to assist store employees, providing a competitive advantage for Amazon.

Amazon’s shares have outperformed the Retail-Wholesale sector, thanks to its grocery business and other strengths like Prime membership, AWS adoption, AI focus, and global presence. The company’s expected revenue for 2024 is $638.24 billion, with earnings projected to grow 57.9% year over year. These factors are likely to drive Amazon’s financial performance in the near future.



Read more at NASDAQ: Amazon (AMZN) Expands Grocery Business With New Jersey Store