Amazon expands high-tech grocery store concept
Amazon Fresh – a closer look
Amazon debuted Amazon Fresh in 2020, in Woodland Hills, Calif. There are currently 42 Amazon Fresh stores. In a recent letter to shareholders, Amazon CEO Andy Jassy cited discount savings as part of the reason the company had a successful fiscal 2023, with results including 12% total year-over-year revenue growth.
Since November 2022, Amazon Fresh has lowered prices on thousands of items and tripled the size of its promotion plan to deliver what Amazon says is millions of dollars in savings to customers.
For all of 2023, Jassy said customers saved nearly $24 billion across millions of deals and coupons, almost 70% more than the prior year. In the first quarter of fiscal 2024, strong growth continued with Amazon’s net sales rising 13% to $143.3 billion.
"We offer great prices on quality items every day at Amazon Fresh, ensuring grocery shopping is convenient and affordable for all our customers," said Claire Peters, worldwide VP, Amazon Fresh, in a statement emailed to Chain Store Age in May 2024. "Increasing our weekly deals across thousands of items and expanding the reach of Prime savings at Amazon Fresh is just one way that we’re continuing to invest in competitive pricing and savings for all of our customers – both in-store and online."