Amazon.com, Inc. (NASDAQ:AMZN) has confirmed rumors that the company is considering to open its first retail store in New York City.
The online retailer told The Wall Street Journal on Wednesday that it plans to open a bookstore at Time Warner Center in Manhattan.
Amazon is betting on brick-and-mortar business including physical books and grocery stores. The e-commerce giant is also planning to open a physical bookstore near Boston. It opened its first bookstore in Seattle in late 2015. The online megastore is also testing a type of grocery stores called Amazon Go.
New York City Bookstore
Amazon.com, Inc. (NASDAQ:AMZN) is expected to open a 4,000-square-foot store in the spring at Time Warner Center at the edge of Central Park.
Owned by Related Cos., Time Warner Center is a multistory shopping center. It is home to clothing and shoe stores such as Coach and Cole Haan as well as several upscale restaurants, including Per Se, according to the WJS.
In addition, the company also considering a location in the large shopping center under development in Hudson Yards by Related Cos. and Oxford Properties Group. The building isn’t expected to be completed until 2018.
Amazon is looking to create a national bookstore chain. The retailing giant setup its first brick-and-mortar books shop in Seattle in November 2015. It later opened two bookstores in San Diego and in Portland, Ore., and is planning to setup stores in Chicago and Dedham, Mass.
According to the company, its booksstores are a physical extension of Amazon.com. At the company’s bookstores, the shopping experience is slightly different from other stores. The online retailer designed the stores by mixing benefits of online and offline book shopping. Books are chosen based on customer ratings, pre-order and sales figures, and its employees’ assessments. To select books for its physical stores, the e-commerce giant looks uses date from its website. It looks at customer ratings and sales figures to choose books.
On its website, the company says that it has applied 20 years of bookselling experience to develop bookstores integrating both offline and online book shopping. “The books in our store are selected based on Amazon.com customer ratings, pre-orders, sales, popularity on Goodreads, and our curators’ assessments,” according to its website.
Additionally, at the physical bookstores, Amazon sells books and Kindle and Fire devices as well as markets its other services.
Meanwhile, Amazon CEO Jeff Bezos told shareholders last year that they are looking to build more brick-and-mortar bookstores. “We’re definitely going to open additional stores; how many we don’t know yet,” he said at the meeting in May.
“In these early days, it’s all about learning, rather than trying to earn a lot of revenue.” In addition, the CEO said that the company’s brick-and-mortar stores are designed to satisfy “a completely different need. It’s about browsing and discovery,” he said at the Code Conference in Rancho Palos Verdes, California, in May 2016.