Competing with major
grocery retailers in the UK, Amazon has announced that it plans to open
260 supermarkets in the country within the next three years. They will be
cashierless outlets.
The shops will be owned and
run by the e-commerce giant. According to his plans, 60 will be launched
in 2022, 100 in 2023, and 100 in 2024. In an insider report, there will be two
openings per week next year. It is also being reported that the firm is planning
to open a number of supermarkets in Germany, Spain and Italy. However, this
project seems to be facing several challenges. The team has been struggling to
meet its goals.
Experts are advancing that
the giant is planning to take on firms like Tesco and Sainsbury’s, with
a similar growth rate planned. Both companies exceeded 100 openings per year.
In July, it even poached one of Tesco’s top executives, Tony Hoggett, to run
its physical stores. In January 2020, he will take on the role of senior vice
president of the outlets.
According to analysts, the
future of Amazon in the UK supermarket
space is quite bright. It has all the reasons to be optimistic. It is set to
overtake Tesco as the largest retailer within the next four years and sales are
expected to hit more than £77bn by 2025.
Photo credit:
Viscious-Speed from Pixabay
Amazon will take on the
grocery market in the UK
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