Amazon Deepens Ties with Casino Group to Enhance Food E-Commerce in France
Amazon (AMZN) has deepened its ties with Casino Group in France to offer customers a wide selection of food products and pick-up points. The strategic alliance will allow the e-commerce giant to introduce new customers to the Casino Group’s expertise.
The two have been exploring ways of deploying new solutions such as express food delivery services to make life easier. The rolling out of a “click and collect service” in Casino stores is the result of the strengthened collaboration.
The click and collect service will be up and running from July. At first, it will be available in Annecy and Clermont-Ferrand. Amazon Prime Members will be able to order from a selection of thousands of food items. In return, they will be allowed to pick up the orders from one of the 180 Casino collection points. (See Amazon stock analysis on TipRanks).
The new service affirms Casino Group’s growing digital strategy to offer a wide range of local services in the food e-commerce industry.
“We are delighted to be working with Casino Group and to offer this new click and collect service which will enable Prime members to benefit from an even wider selection of food products. This new service will ultimately make their lives easier throughout France,” said Amazon France’s MD Frédéric Duval.
Morgan Stanley analyst Brian Nowak believes Amazon is on the cusp of offering much broader same-day shipping options. According to the analyst, the move will allow the company to raise consumer expectations and ramp up the competition. Additionally, the analyst sees the e-commerce giant moving U.S Prime Now into the Amazon app and website.
Nowak maintains a Buy rating on the stock with a $4,500 price target implying 41.20% upside potential to current levels.
Consensus among analysts is a Strong Buy based on 31 Buys. The average analyst price target of $4,295.17 implies 34.77% upside potential to current levels.
AMZN scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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