Currently, Amazon has to deal with a new problem. As “Bloomberg” reports, the online retailer built numerous department stores during the corona pandemic to meet the increased demand from customers. Now that the situation has become more uncertain again due to the war in Ukraine and rising prices, there is no demand. The department stores are often empty and not used.
The Amazon insiders from Bloomberg speak of around one million square meters that are kept without goods. Nevertheless, Amazon continues to pay rent for this space.
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In order to compensate for this loss, Amazon is already working on a solution. This consists of offering these storage areas to third parties. The online retailer would then sublet the space to cushion any losses. First of all, they want to part with the said million square meters, according to Amazon insiders. Nevertheless, there are already plans to give up even more space.
Insiders speak of a total of 2.7 million square meters. But for now, Amazon wants to keep the space in reserve in case the situation improves and demand should return.
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