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Amazon Explores Service That Could Reduce Its Capex

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Anusuya Lahiri
·1 min read
In this article:
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  • AMZN
    Watchlist

  • Amazon.com Inc (NASDAQ: AMZN) tested a service using its sprawling network of gig drivers to fetch packages from mall-based retailers and deliver them to customers, Bloomberg reports.

  • Amazon can entertain shoppers seeking same-day or quicker shipping with a local mall store products struggling to remain relevant as shoppers flocked online.

  • The program will likely become a permanent part of Amazon’s delivery options, helping it expand the variety of goods for fast shipment.

  • Building its own logistics operation helped supercharge Amazon’s growth, but it came at a cost.

  • Delivering from other retailers’ stores could require Amazon to build fewer expensive, urban depots.

  • Amazon reported its first quarterly loss in seven years due to pandemic recovery and acknowledged being overstaffed and having an excess of warehouse space.

  • Walmart Inc (NYSE: WMT) and Target Corp (NYSE: TGT) use gig-economy drivers to deliver some items from their shelves.

  • Price Action: AMZN shares traded lower by 1.36% at $2,117.65 on the last check Friday.

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