Amazon shifts its business focus to grocery

Seattle-based Amazon is closing its Pop-Up stores as the company shifts its business model focus towards its new grocery expansion concept, according to the New York Times.

The company’s Pop-Up stores are stand-alone kiosks, often in malls, that showcase the company’s private brand devices, such as its Fire tablets and Echo speakers. Some are inside Kohl’s or grocery stores.

Amazon’s stores, including Whole Foods Market, brought in more than $17 billion in revenue last year. In the fourth quarter, they were the only financial segment of its business that posted a decline in revenue from a year earlier, although Amazon said that was partly due to how the company reported Whole Foods’ purchases made online, according to the New York Times.

To read the New York Times article, click here.