Inside Amazon's New 4-Star Store




Amazon opening 4-Star stores is all about Amazon Prime

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  • opened its first Amazon 4-Star concept store in New York in September.
  • It's reportedly expanding the concept to another location in Berkeley, California.
  • The concept is designed to bring the successful formula of Amazon's website into the real world.
  • One of the most successful elements — Amazon Prime — is front and center throughout the store.
  • It shows how important Prime is to Amazon's ambition for growth.

Amazon's new concept bakes an advertisement for Prime into every price tag.

The store, called Amazon 4-Star, stocks only items that customers have rated four stars or above, on average, on Amazon's website. That means it will include only the best of the best, in the eyes of Amazon's customers.

It opened in Manhattan's SoHo neighborhood on September 27, and another will soon open in Berkeley, California, according to the local news site Berkeleyside.

The store essentially uses the same format as the brand's Amazon Books store but offers more categories, including toys and games, home and kitchen, and, yes, books. Like Amazon Books, Amazon 4-Star also displays customer reviews and has a cashless checkout process.

It also uses the same pricing system, where Prime members pay the Amazon.com price but everyone else pays the manufacturer's suggested retail price. Both prices are displayed on the electronic price tag under every item.

But there's a stark difference. While people buying books generally are prepared to pay the full price on the back cover — most likely the same price they'd pay at Barnes &Nobleoralocalbookstore—othermerchandiseismoreregularlydiscounted.

Ineffect,thatmeanseverypurchase—orpurchaseconsidered— shows customers a little slice of what the Prime membership offers, either consoling them if they're already members or perhaps getting them one step closer to joining.

Amazon also made joining Prime frictionless, with a 30-day free trial available at checkout.

Amazon knows that Prime is its golden goose, and it keeps adding to the suite of benefits it provides its members.

While many still associate Prime solely with its two-day-shipping guarantee, it also offers things like video and music streaming. And there are some items available only to Prime members, creating additional value.

In May, Prime members were given another perk: big discounts at Whole Foods. It finished the rollout this summer.

The value of Prime has risen steadily over the years as Amazon has added these benefits. A recent JPMorgan analysis estimated that the service was actually worth 5 a year with everything it offers. That's about 6 1/2 times the actual cost of an annual Prime subscription, 0, even with this year's price increase.

"Prime delivers such massive scale and features that we believe it would be very difficult for any company to replicate and compete against, and Amazon continues to expand and add more value to Prime by adding new benefits and growing existing offerings," the analysts wrote.

That means that even if a customer doesn't take advantage of everything a Prime membership offers, they're still likely to perceive it as a good value.

Amazon has a vested interest in keeping these Prime customers happy. They are by far Amazon's most loyal, buying more stuff more often. They're also more likely to delve deeper into the Amazon ecosystem, taking up Alexa-enabled devices and subscribing to additional services like Amazon Music.





Video: Visiting Amazon's New '4-Star' Retail Concept🗽

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Date: 09.12.2018, 22:15 / Views: 63184