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Amazon.com Inc. said on Wednesday it will open a physical store in New York City, where it will sell toys, household items and many other highly-rated products on its website.
The news consists, basically, of Amazon's latest incursion into the territory of rivals such as Target Corp .; Amazon, the largest online retailer in the world, is turning more and more to physical stores to please their customers.
Michael Pachter, an analyst at Wedbush Securities, said Amazon will add new stores if the format takes off, but does not think it will. "If I'm looking for a TV and the store is full of kitchen appliances, that does not help much," he said.
In addition, the sale of groceries is still the other key category of Amazon – apart from its great asset that is basically online sales. The company bought Whole Foods Market in a $ 13.7 billion deal last year. It is also rolling out smaller grocery stores known as Amazon Go, where in-store technology allows customers to go out with items and bill their credit cards without having to go through the checkout.
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Source: IQOption blog (blog.iqoption.com)