The company’s physical retail business made $4.68 billion in Q4 2021.
In a recent confirmation to Reuters, Amazon said it will close 68 of its physical stores across the US and UK. Retail establishments like Amazon Books bookstores, pop-up shops across markets, and its 4-star stores, where consumers shop highly rated products on Amazon.com will be closed.
Since the actual closing dates may differ by location, Amazon will notify customers of the imminent closures via in-store signage. The company is seeking to find new roles for affected employees or offer them severance pay.
The decision to shut down those stores is due to COVID-19 lowering in-store traffic, and Amazon retail workers notably those working at Amazon Fresh, unionising to seek better benefits, notes Insider. However, Amazon will continue to develop its "cashierless" grocery stores and other retail concepts.
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