On this episode of The Barron Report, Paul Barron analyzes the aggressive move Amazon in making in the foodservice industry.
Amazon plans to open up to 3,000 of its cashier-less Amazon Go convenience stores by the year 2021, according to a recent report from Bloomberg. The tech giant's brick-and-mortar concept Amazon Go currently has three stores open, two in Seattle and one in Chicago.
Jeff Bezos, Chief Executive Officer of Amazon, views eliminating meal-time rushes in busy cities, like Seattle and Chicago, as the best way for Amazon to reinvent the brick-and-mortar retail experience. The concept of a convenience store that sells fresh grab and go foods and a limited grocery selection like the 7-Eleven franchises, for people in a rush poses a threat to meal-kits and fast casual chains alike.
Listen to this episode of The Barron Report for more insights on how Amazon will be continuing to impact the foodservice industry and if fast casual restaurants can survive this threat.
11:52 - A Look at Amazon Prime Statistics
14:36 - What’s Next? Predictions for Amazon and the Food Service Industry
16:39 - Will Fast Casual Survive?
18:59 - Positioning Your Business to Create a Loyal Guest
01:20 - Amazon’s Disruption in the Retail Industry with Amazon Prime
02:54 - Amazon Go Store Strategy: Are They After Fast Casual?
05:34 - What about Whole Foods?
07:16 - Amazon’s Impact on the Food Ecosystem and Fast Casual
08:44 - Amazon’s Capability to Connect to the Guest
Also check out the video below to watch a recent episode of The Barron Report to learn more about the Amazon Go stores and how these cashier-less stores are changing these retail space forever.