Amazon Said to Consider Opening Up to 3,000 Cashierless Stores by 2021

Amazon Said to Consider Opening Up to 3,000 Cashierless Stores by 2021

Amazon Said to Consider Opening Up to 3,000 Cashierless Stores by 2021

"We see Amazon as having to invest between $0.5 billion and $3 billion in building these 3,000 stores", analysts led by Brian Nowak wrote Thursday.

Amazon.com is considering a plan to open as many as 3,000 new Amazon Go cashierless stores in the next few years, according to people familiar with matter, an aggressive and costly expansion that would threaten convenience chains like 7-Eleven, quick-service sandwich shops like Subway and Panera Bread, and mom-and-pop pizzerias and taco trucks.

Amazon has opened four Amazon Go stores since it announced the concept in 2016.

Citing unnamed sources, Bloomberg said yesterday that Seattle-based Amazon is mulling plans to open as many as 3,000 Amazon Go locations by 2021. Amazon is also planning to open one in NY. Two other stores, including the original Amazon Go, also have a small selection of groceries, making it more akin to a convenience store. Once inside, an array of cameras and sensors track shoppers' progress through the store, charging a credit card on file for items the shoppers take off shelves.

Amazon has been quite cautious in its roll-out of Amazon Go stores that replace the cashier with a smartphone app.

Amazon Said to Consider Opening Up to 3,000 Cashierless Stores by 2021

Amazon did not immediately respond to FOX Business' request for comment.

Amazon Go is Amazon's cashierless store, which features what it calls "just walk out" technology and payment through its proprietary app.

Online retail behemoth Amazon is planning a big move that may affect millions of Americans, and chip away at one of the biggest forms of employment in the nation. "I also think Amazon is fully aware that Whole Foods is not necessarily the complete solution to their bricks-and-mortar", Wolfe Research analyst Scott Mushkin said earlier this week at a Supermarket News roundtable discussion.

"Amazon is fully aware that they have to be much bigger in consumables and that omnichannel is what's going to work in consumables". But it has pushed back on past reports that executives had given the green light to a major expansion of Go. Prepared foods also have wider profit margins than groceries, which would help decrease the time it takes for the stores to become profitable. "It's too far away".

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