{"id":1328563,"date":"2022-02-22T18:09:01","date_gmt":"2022-02-22T23:09:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1328563"},"modified":"2022-02-22T18:09:12","modified_gmt":"2022-02-22T23:09:12","slug":"analyst-amazons-grocery-business-becoming-expensive-hobby-with-little-growth","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analyst-amazons-grocery-business-becoming-expensive-hobby-with-little-growth\/","title":{"rendered":"Analyst: Amazon&#039;s Grocery Business Becoming &#039;Expensive Hobby&#039; with Little Growth"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fanalyst-amazons-grocery-business-becoming-expensive-hobby-with-little-growth%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1328563&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">Amazon\u2019s grocery store business has cost it billions of dollars over the past 15 years and has yet to really cement its foothold in the retail space. Analysts are now referring to the business as Amazon\u2019s most \u201cexpensive hobby.\u201d<\/p>\n<p>CNBC <a href=\"https:\/\/www.cnbc.com\/2022\/02\/19\/amazons-sprawling-grocery-business-has-become-an-expensive-hobby.html\">reports<\/a>\u00a0that Amazon has successfully dominated the online shopping industry for multiple decades, devoting its business model to delivering packages to customers\u2019 doors in the fastest, cheapest way possible. Despite Jeff Bezos\u2019 domination of e-commerce, one line of business the internet giant has poured its resources into has continued to avoid its relentless stranglehold \u2014 grocery shopping.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<div id=\"attachment_7295123\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/whole-foods-store-AP.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-7295123\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/whole-foods-store-AP.jpg\" alt=\"\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Customers shop at a Whole Foods Market, Monday, Aug. 28, 2017, in Tampa, Fla. (AP Photo\/Chris O\u2019Meara)<\/p>\n<\/div>\n<div id=\"attachment_19621482\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/Amazon-Go-store.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-19621482\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/Amazon-Go-store.jpg\" alt=\"Amazon Go store\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Amazon Go store (The Associated Press)<\/p>\n<\/div>\n<p>Amazon has a number of grocery-related services including Prime Now, Fresh, Go, and more. In 2017, the company <a href=\"https:\/\/www.breitbart.com\/news\/amazon-com-acquires-whole-foods-for-13-7b\/\">purchased<\/a> Whole Foods for $13.7 billion, more than 10 times the amount Amazon had paid in any previous acquisition.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>But despite this, Amazon remains a small player in the grocery industry. Amazon.com and Whole Foods only account for a combined 2.4 percent of the grocery market over the past 12 months, while Walmart dominated the industry accounting for 18 percent, according to the research firm Numerator.<\/p>\n<p>Jake Dollarhide, CEO of Longbow Asset Management, commented that \u201cAmazon\u2019s all about the cloud, e-commerce and entertainment,\u201d which has acted as the company\u2019s \u201ccore holding\u201d since 2011. He added: \u201cIt\u2019s almost like the grocery business is an expensive hobby.\u201d<\/p>\n<p>Shareholders did not appear worried about the industry as Amazon\u2019s stock price soared almost 400 percent in the last five years with founder Jeff Bezos at the helm. But, since Bezos resigned from his position as CEO and Amazon cloud computing chief Andy Jassy took over, the situation has changed.<\/p>\n<p>Jassy has been leading the firm since July, in this time company stock dropped by around 13 percent and was the worst performer out of all of the Big Tech firms last year, reporting its slowest growth rate for any quarter since 2001. A drop in performance may cause the company to reconsider its \u201cexpensive hobby\u201d in the grocery business.<\/p>\n<p>Read more at <a href=\"https:\/\/www.cnbc.com\/2022\/02\/19\/amazons-sprawling-grocery-business-has-become-an-expensive-hobby.html\">CNBC here.<\/a><\/p>\n<p><strong><i>Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter\u00a0<\/i><i><a class=\"x5l\" href=\"http:\/\/twitter.com\/lucasnolan\" target=\"_blank\" rel=\"noopener external\">@LucasNolan<\/a>\u00a0<\/i><i>or email him at\u00a0<\/i><i><a href=\"https:\/\/www.breitbart.com\/\">lnolan@breitbart.com<\/a><\/i><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amazon\u2019s grocery store business has cost it billions of dollars over the past 15 years and has yet to really cement its foothold in the retail space. Analysts are now<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1328563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1328563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1328563"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1328563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1328563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1328563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1328563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}