What once cost Amazon over $13 billion is now turning into a big headache for the tech company.
Back in 2017, Amazon acquired Whole Foods for a price tag of $13.7 billion with the intention of making its own brick-and-mortar grocery stores under the brands Amazon Fresh and Amazon Go.
‘Fresh groceries now make up nine of the top 10 most-ordered items.’
Amazon Go was meant to be the future: a cashierless and seamless Amazon experience where shoppers simply scan on their way out. In fact, the stores mirror a mid-2000s IBM commercial about online commerce.
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By 2023, expansion had been slowed, with some locations closing, CoStar reported at the time, and Amazon taking out a $720 million impairment charge.
On Tuesday, Amazon announced it is fully closing all Amazon
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