Amazon has officially opened its doors to another London-based Amazon Fresh store in Chalk Farm, Camden, amid its latest push to disrupt the UK grocery market.
Following reports last week that Amazon was due to launch another of its high-tech physical grocery stores in the former Evans Cycles Shop in Camden, the retail opened the store to the public on Wednesday.
The 2500sq ft store, now the fifth London store Amazon has opened since March, will once again feature its signature ‘Just Walk Out’ technology alongside a new ‘Amazon Hub’ counter where customers can collect and return orders conveniently.
To mark Amazon Prime Day 2021, Prime customer who shop in store will also receive a free hot drink.
It marks the latest concerted effort to disrupt the UK grocery market and continue on its path to dominate the country’s retail market.
According to new research from Edge Retail Insight, Amazon’s gross sales are forecast to top £77 billion by 2025, outpacing the UK’s current largest retailer Tesco’s predicted £76.1 billion.
This would represent a dramatic rate of growth for the online giant, seeing total retail sales increase from £36.3 billion in 2020 compared to Tesco’s £64 billion.
In the five years to 2025 Amazon is expected to see a compound annual growth rate (CAGR) of 16.3 per cent, compared to Tesco’s 3.5 per cent, driven by a rapid rise in grocery sales.
While Amazon currently represents a relatively meagre portion of the UK’s edible grocery sales despite seeing 17.6 per cent growth last year, it is predicted to overtake Shell, McColls, BP and Wilko by 2025 to become the UK’s 15th largest seller of edible products.