Amazon (AMZN - Free Report) continues to take giant strides with its grocery delivery services in the global market.
Reportedly, the e-commerce giant and Casino Group’s subsidiary, Monoprix, are looking to boost presence in France’s grocery market.
The partnership, which started last year, allows Amazon to offer Monoprix’s food products and other grocery items on its platform via Prime Now app to eligible customers in Paris and its suburbs.
As the partnership continues to taste success in Paris, Amazon is willing to expand its grocery delivery service in France, per the latest talks.
If Amazon expands in the French grocery space, it will gain a competitive edge over Walmart (WMT - Free Report) which doesn’t have any presence in the market yet.
It will also make things tough for Alphabet’s (GOOGL - Free Report) Google, which is leaving no stone unturned to bolster presence in this particular space.
Notably, Google teamed up with Carrefour to sell the latter’s products on its new shopping site, introduced in France. Additionally, customers will be able to shop with the help of Google Assistant and home speakers.
Deepening Grocery Retail Focus
Amazon continues to focus on strengthening presence in the global grocery retail space through aggressive retail strategies along with partnerships and acquisitions.
In India, Amazon has collaborated with private equity firm, Samara Capital, to acquire the grocery retail chain of Aditya Birla Retail Ltd. — More. Per reports, the company will hold a 49% stake in it.
Further, its acquisition of Whole Foods Market continues to bolster its reach in the U.S. grocery retail market. Robust Prime benefits and expanding grocery delivery as well as pick-up service are also driving its momentum.
Further, its expanding Amazon GO store count in the United States and aim to foray beyond the country are major positives. Reportedly, the company has acquired some retail space in the heart of London which might be used for establishing a cashier-less store.
Zacks Rank & Stock to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold)
A better ranked stock that can be considered in the retail-wholesale sector is Expedia Group (EXPE - Free Report) which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rate for Expedia is pegged at 13.4%.
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