Up to 3000 Amazon Go stores may be on the way

Amazon is considering up to 3,000 cashierless Amazon Go stores by 2021

According to a report, Amazon is considering opening 3,000 of its cashierless stores by 2021.

Bloomberg News reported Wednesday that the Seattle company is considering a plan to open as many as 3,000 of the cashierless Go convenience stores by 2021.

Amazon opened its first Amazon Go store in its hometown of Seattle in 2016. Since then, the company has opened two more Seattle sites and one in Chicago, and has confirmed plans for San Francisco and NY stores.

Opening more locations in the same city would also allow Amazon to cut down on costs since they could take advantage of a centralized food production facility.

The company's rationale is simple: while it has developed into a massively successful enterprise, Jeff Bezos recognizes most money is still spent in brick-and-mortar stores and has devised a master to create 3,000 Amazon Go-type stores.

The checkout counter-free store relies on computer vision, machine learning algorithms and sensors to track what customers are taking off the shelves - or putting back on the shelves - and purchasing.

Shoppers use a smartphone app to enter the store.

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The 2,000-square-foot Chicago location, which gets daily deliveries, offers packaged salads, snacks and sandwiches, according to CS News.

The source reveals Amazon is looking to target areas with young, busy residents who are willing to shell out a bit more cash for higher quality food delivered at the pace of a typical fast food restaurant.

Going from just four locations to 3,000 in a few years would constitute a massive jump and make Amazon a leading convenience store operator, rivaling 7-Eleven, Walgreens and CVS.

That many new stores could change people's expectations for convenience stores, forcing other retailers to adopt a cashier-less model. Amazon's other brick-and-mortar initiatives include about 20 bookstores around the USA and the natural grocery chain Whole Foods Market, acquired a year ago. "We shall see", Wolf said at the roundtable event. Prepared foods also have wider profit margins than groceries, which would help decrease the time it takes for the stores to become profitable.

Amazon's flair for innovation and consumer acumen raise the potential for a major expansion of the Amazon Go format, according to Loop Capital analyst Andrew Wolf. Customers pick up what they want and are scanned and charged automatically, without having to wait in line for a cashier to physically handle their purchase.

Its first location in downtown Seattle cost over $1 million in hardware, according to Bloomberg.

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