Amazon chief executive Andy Jassy has vowed to double down on the company’s struggling grocery store business, despite recently announcing that its growth plans were on hold.
Jassy told the Financial Times that the ecommerce giant was ready to “go big” on bricks-and-mortar stores, blaming a lack of “normalcy” during the pandemic for a series of stumbles.
Five years since acquiring Whole Foods for $13.7bn, Amazon’s largest ever acquisition, the company has yet to disrupt a grocery sector worth $1.6tn in the US, in the way competitors had initially feared.
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