Amazon's revenue for physical stores has totaled $4.4 billion in fourth quarter 2018, 3 percent less than a year ago, reports MarketWatch. The company's CFO noted online Prime Now orders of Whole Foods Market groceries were counted as online sales instead of physical retail, adding "the Whole Foods growth year-over-year on an apples-to-apples basis was approximately 6 percent."
"I was concerned that pricing actually hadn't come down as much as promised and that competition was taking customer wallet share while employees seemed increasingly dissatisfied or disgruntled," says Daniel Kurnos, an analyst at Benchmark. "I do, however, think physical retail makes sense, as does Whole Foods for data collection, Prime adoption and order frequency, but it may be a low-growth business for them rather than an arm they can accelerate."
During the fourth quarter, total online sales at the company increased 13 percent. Amazon Web Services revenue grew 45 percent, while sales of advertising and other services increased 95 percent, lower than in previous quarters. Full Story
Related: Amazon Seeks Brand Exclusivity; Amazon Introduces Autonomous Delivery Robot.
from Specialty Food News http://bit.ly/2Ux64kb
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