Watch out 7-Eleven and CVS, Amazon is making an aggressive push into the convenience store industry.
The tech giant's brick-and-mortar concept Amazon Go already has three stores open with two in Seattle and one in Chicago, but the company has plans to roll out as many as 3,000 by 2020, according to "Bloomberg."
These stores are fueled strictly by technology. There are no human cashiers or even kiosks. Thanks to sensors and automation software, a customer can shop and checkout with minimal effort.
"Customers scan their Amazon accounts with their smartphones when walking in, and from there they can shop for sandwiches, salads, groceries, and household goods. Sensors and software that’s trained to analyze and perceive what items get removed from shelves are able to update your shopping cart in real time, while checkout happens automatically once you leave the store," writes "The Verge."
More Amazon Go stores will be open in San Francisco and Chicago this year. The company plans to open at least 10 stores by the end of 2018.
Amazon's CEO Jeff Bezos said the company is also planning to have different configurations of the stores too. Some will have more packaged meals, while others will have more grocery selections.
But packaged foods are proving to be easier for Amazon's sensors to track.
"If Amazon narrows the focus of some Go stores in its expansion to packaged meals for on-the-go consumers, it could increase the profit margins of each new location and help Amazon open locations faster, as packaged goods are easier to track with fewer sensors and cameras," writes "The Verge."
Should convenience stores and fast food restaurants be threatened by Amazon entering the on-the-go food space?
Stay tuned for a special episode of The Barron Report where Foodable Network's Founder Editor-in-Chief, and Executive Producer Paul Barron explains why the fast casual segment should be threatened too.
Also check out the video below to watch a recent episode of The Barron Report to learn more about the Amazon Go stores and how these cashier-less stores are changing these retail space forever.
Read more about the Amazon Go stores at "The Verge" now.