Amazon.com, long seen as a villain by shopping center owners for driving their brick-and-mortar retail chain tenants out of business, is now coveted as a tenant by mall landlords, the Wall Street Journal reports.
While chains like Sears Holdings and Macy's trim back their physical stores, Amazon has been building up its presence and is experimenting with new physical retail formats.
Especially attractive is the kind of consumer that Amazon is likely to draw, given the retailer's rich database of consumer data.
Federal Realty Investment Trust (NYSE:FRT) CEO Don Wood says, "The idea of more demand from [Amazon] is a huge positive for me," and could motivate other grocers to boost investment in their own stores.
Amazon is starting a new grocery store chain with dozens of locations and it's testing Amazon Go cashierless convenience stores and stores that sell items with ratings over four stars from its website.
Previously: Amazon coming in big with new grocery store concept (March 4)
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