Amazon.com, Inc.(NASDAQ:AMZN) may be the next player to enter make a big splash in the market for physically-located bookstores. According to a report by Wall Street Journal, the online giant may fully initiate its favorite book-selling business with the launch of 400 brick-and-mortar bookstores across US. The Seattle-based giant opened its first bookstore in its hometown in November of last year. The publication attributes this revelation to General Growth Properties CEO Sandeep Mathrani who revealed the news on Tuesday during his mall’s earning call.
However the company has declined to comment on the matter. According to CNBC publication, the company’s spokeswoman declined to confirm the news and said that the company does not comment on mere speculation or rumors. It is noteworthy that Amazon.com began its business as an online bookstore in 1994 in Seattle. Since then, the company has expanded its online business and currently offers almost each and every product in various categories.
In November 2015, the company opened its first brick-and-mortar bookstore in a mall located in Seattle, Washington. The bookstore sells books based on the company’s e-commerce platform's ratings. Customers can buy books their for the same price as on Amazon.com.
With annual revenue of more than $107 billion the company has established a strong online business across the globe. It has announced various plans that aim to expand its business through innovation and creativity. The company also announced to deliver packages to consumers in less than 30 minutes via drone technology.
Now Amazon’s announcement to enter the street-level bookstore market will drive serious competition for existing bookstores in US. This includes Barnes And Noble, a fortune 500 company and currently America’s largest bookstore with more than 640 stores across US; as well as Book-A-Million Inc. that operates 255 locations across US.