Amazon to ‘feast’ on food and beverage market
Online retail giant, Amazon.com, is “set to feast” on the US food and beverage market, a Wall Street firm stated.
Analysts at Cowen & Company LLC anticipate that Amazon is about to move up the ranks in the US food and beverage industry.
“Amazon will be a top-10 player in the approximately $795 billion US food and beverage grocery market by 2019,” the analysts, led by John Blackledge, said, according to a news report on Bloomberg.
Recently, Amazon has launched its biggest foray into food outside of the United States in a deal with British supermarket Morrisons offering fresh and frozen goods to customers.
Amazon is also reportedly in talks with Frances Russell, former head of womenswear at Marks & Spencer, to spearhead the creation of its own-label fashion range.
The online retailer has already been building its grocery offerings and now has Amazon Prime, Prime Now, Prime Pantry, and Amazon Fresh that offer delivery times as short as an hour, in some cases.
This article first appeared on our sister site Inside Retail NZ.