Today, Amazon extended its physical store presence with a totally new concept. Amazon 4-star is a new physical store where everything for sale is rated 4 stars and above, is a top seller, or is new and trend
ing on Amazon.com. The first store is located in one of New York’s most vibrant neighborhoods—SoHo—on Spring Street between Crosby and Lafayette Streets.
Here is my take on this new venture from Amazon…
First and foremost, the physical store is not dead! It is great to see the renewed interest in brick-and-mortar stores and Amazon is making a full court press. As Amazon continues to expand its store presence from book, to grocery and convenience and now to stores focus on trending/hot products from its online commerce nearly all retail segments should be on high alert.
I believe they will rollout this concept across all metro areas. It isn’t a gimmick, but a sustainable concept based on localized assortment. The question is how localized will Amazon make the assortments? Will they add these to their Whole Foods locations?
For a few years, there have been rumors of Amazon expanding into gas stations and they have been focused on expanding their presence in apparel, furniture, pharmacy, which might evolve into physical stores in these categories. With more than 100 million Amazon Prime members, Amazon already has a loyal customer base for virtually any category they enter. That’s 40 percent of the adult population in the U.S.
Nothing is off limits for Amazon and they continue to surprise us with new ventures.
What do you think of Amazon’s new concept store – 4-Star? Please share your opinions on this topic below.