Amazon.com, Inc. (AMZN)’s Business Will Be Crushed Because Of 34th Street Store: Jan Kniffen

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Wall Street Journal has claimed that Amazon.com, Inc. (NASDAQ:AMZN) is going to open a physical store in New York City. The store is likely to get working before the holiday season. Many experts are hinting that the new store might diminish the real effect of Amazon.com, Inc. (NASDAQ:AMZN)’s growth factor which is the e-commerce and online sales. In a program on CNBC, Herb Greenberg and Jan Kniffen, J. Rogers Kniffen CEO talked about reasons and possible implications of new Amazon.com, Inc. (NASDAQ:AMZN)’s physical store in the US. Greenberg said that the results of this store will be evident in a very short period of time for Amazon.com, Inc. (NASDAQ:AMZN).

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“Originally, people though that the company was going to open up a store in Seattle, there was a lot of chatter about that in Seattle newspaper, nothing ever came of it […],” said Greenberg.

Kniffen said that Amazon.com, Inc. (NASDAQ:AMZN) will be crushing its business because of this store because the peculiar charm and quality of Amazon is not physical stores, it is the e-commerce. Greenberg disagreed with Kniffen and said that businesses must keep re-inventing themselves. He said that businesses grow by experimenting new things and Amazon.com, Inc. (NASDAQ:AMZN) is doing the right thing to step into the world of physical stores.

Kniffen said that Amazon.com, Inc. (NASDAQ:AMZN) is not satisfied with At&T and other companies because it thinks that they are not able to convey the real benefits of Amazon.com, Inc. (NASDAQ:AMZN)’s latest Fire Phone. He thinks that Amazon is opening the new store for its technology items. It will instruct people about its phones and tablets on  physical stores.

Amazon.com, Inc. (NASDAQ:AMZN)’s new store will be in front of The Empire State Building on 34th street. The company is experimenting the new show room and it can give a sales boost in the upcoming holiday season.

 As of 30 June, 2014, Ken Fisher‘s Fisher Asset Management hold around 2.5 million Amazon.com, Inc. (NASDAQ:AMZN) shares.

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