Key takeaways: 

• Amazon's grocery industries have cost billions of dollars over the previous 15 years but have yet to produce a coherent plan.
• According to research company Numerator, as of mid-December, Amazon.com and Whole Foods accounted for a collective 2.4% of the grocery market over the prior 12 months.
• "It's nearly like the grocery business is a pricey hobby," stated Jake Dollarhide, CEO of Longbow Asset Management, which holds shares of Amazon.

Amazon has spent nearly three decades perfecting the skill of getting everything possible to your doorstep in the shortest amount of time, at the lowest probable cost. By almost any measure, it's been one of the most significant corporate wins in history.

But despite Amazon's unquestioned authority in e-commerce, one giant market has verified especially disturbing: groceries. 

Amazon has presented a dizzying array of services — Prime Now, Fresh, Go, and others — in its grind to become a giant in the $750 billion U.S. grocery market. In 2017, it spent $13.7 billion to attain Whole Foods, a cost tag almost ten times higher than Amazon had paid in any previous deal.

Still, it's simply a niche performer in the industry. As of mid-December, Amazon.com and Whole Foods accounted for a joint 2.4% of the grocery market over the previous 12 months, while Walmart held 18%, according to research company Numerator. According to individuals familiar with the firm's strategy, Amazon's delivery assistance has floundered to stand out in a crowded field, while the Go automated convenience shops have been deprioritized.

On founder Jeff Bezos' watch, shareholders voiced little worry regarding this corner of the Amazon realm. 

The firm's stock worth skyrocketed nearly 400% in his prior five years at the helm, grown by e-commerce development and profitable cloud business.