— (Reuters) The technology underlying its cashier-less convenience stores will be sold to other retailers by Amazon.com Inc. on Monday, the firm told Reuters.
The largest online retailer in the world claimed to have "many" signed contracts with clients who it would not name. On a new website that launches on Monday, people may learn more about the service that Amazon has named Just Walk Out technology.
The eagerly awaited venture exemplifies Amazon's approach of developing internal capabilities, such as warehouses to assist with package delivery and cloud technology to run its website, and then converting those into valuable services it provides to others.
Its network Amazon Go has made checkout-line-free shopping popular, and according to U.S. venture capital company Loup Ventures, the market for retail without cashiers, one of the most popular jobs in the country, may reach $50 billion.
Although Dilip Kumar, Amazon's vice president of physical retail and technology, did not have any market projections to provide, he did say that the size of the company would depend on consumer preferences.
He inquired, "Do customers enjoy waiting in lines?" Because it basically addresses the issue of how to achieve convenience in physical locations, particularly when customers are stressed about time, it has relatively broad relevance across store sizes and sectors.
Instead of scanning an app to enter, like with Amazon Go stores, customers must insert a credit card into a gated turnstile. The "Just Walk Out technology by Amazon" label will be displayed on the turnstiles, but the merchant employing the service will be in charge of all other branding and store-related decisions.
Items picked up by a customer and any visitors they bring into the store will be put in their virtual shopping cart. Once the individual or group leaves the store, the retailer will charge the credit card; there is no need for bar code scans or checkout lines
In addition to having a 24-hour help line, Kumar stated that Amazon will put equipment such as ceiling cameras and shelf weight sensors at sellers' stores, whether they are new construction or retrofits.
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