Amazon abandons UK supermarket push after struggling to compete [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
Amazon has abandoned plans to take on Britain's major supermarket chains in a move putting 250 jobs at risk. The tech giant said it would shut all of its 19 Amazon Fresh grocery stores in the UK, although it is planning to convert five of these into Whole Foods Market stores. Bosses said they remained “deeply invested” in the UK but would instead shift their focus towards their online grocery business. Amazon first launched the Fresh brand in 2021, opening its first till-less store in Ealing, with technology that allowed customers to walk out with their shopping without having to use a till Shoppers used an app to enter the store and were then billed when they left, with a range of cameras and other technology used to work out which products they purchased. However, the group slowed down significant growth ambitions for the business, as shopper demand waned at the end of the pandemic. John Boumphrey, from Amazon UK, said: “We're deeply invested in the UK's economic growth
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