Amazon Eats Whole Foods
June 22, 2017
On The Digital Life this week, we explore Amazon’s recent purchase of high-end grocery chain Whole Foods and how this transaction will impact the future of retail. For its $14 billion investment, Amazon gets, among other things, a strong real estate portfolio in areas of the US with wealthy, desirable demographics; sophisticated food industry logistics and warehousing; a host of purchasing relationships and agreements; and some potentially rich customer data.
It’s a little ironic that an e-commerce giant such Amazon now has an unique opportunity to redefine brick-and-mortar retail as well. But, the company has been experimenting in this space for a few years. Its Amazon Go offering, for instance, is a IoT-enabled grocery store which enables customers to forgo the checkout line. People can walk in, tap their mobile phones on a turnstile, grab what they like from the shelves, and just walk out again — no waiting in line required. We can imagine that Amazon’s retail technology might soon make an impact on its newly purchased grocery stores. Join us as we discuss the evolution of the retail and the consequences of the Amazon acquisition of Whole Foods.