Amazon just put another toe in the water of physical retailing. Its new retail concept, Amazon 4-star, opened in Manhattan’s SoHo last week playing to huge crowds. It dawned on me that this is a major model for the future of retailing. Contrary to Jeff Bezos’ mantra: try often, fail fast, this test will stick quickly and scale fast.
It’s a model that is data-driven powered by the quintessential superiority of Amazon’s analytics and machine learning. Note to retailers: The rest of the world will be forever racing to catch up to Amazon. I say, “good luck” because Amazon can keep racing faster, making bigger leaps forward. Every product in the store, which at first sight looks like an overwhelming hodge-podge of clutter, has an Amazon 4-star rating or better. That star metric tells you that these items are proven winners with customers. The store also features new and trending products that are popular in the NYC market. All products have a digital price tag with dynamic pricing, star ratings and the number of reviews it has received — plus the discounted Prime price.
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