Amazon buying Whole Foods is so 2017; this year is all about acquiring Target for the tech heavyweight, according to a new note from a high-profile analyst.
“Seeing the value of the combination is easy,” Gene Munster, Loup Venture co-founder, wrote Monday in a prediction to clients. “Amazon believes the future of retail is a mix of mostly online and some offline. Target is the ideal offline partner for Amazon for two reasons, shared demographic and manageable but comprehensive store count.”
Amazon has been looking to beef up its physical presence as it takes on its retail rivals. Only 3 percent of the Seattle-based juggernaut’s revenue comes from in-person sales, according to a recent L.A.