Amazon may open 3,000 Amazon Go Stores in the next three years
Amazon (AMZN) has quietly opened its fourth Amazon Go store with no cashiers and no lines. This Chicago store is the first one outside of Seattle where Amazon’s headquarters are located.
Amazon is planning to open Amazon Go stores in New York, San Francisco, and Los Angeles later this year.
According to a report by Bloomberg, Amazon is considering expanding its cashierless stores into many more markets and opening 3,000 Amazon Go stores by 2021.
The company opened its first Amazon Go store in December 2016. It offers its customers no cashiers and no lines. The store tracks purchases through deep learning technology, video cameras, and sensors on the shelves.
Amazon is slowly increasing its physical presence
Amazon’s first real venture into brick-and-mortar stores was its $13.7 billion acquisition of Whole Foods last year. And now, it apparently wants to increase its physical presence by opening more Amazon Go stores.
Amazon stock has been wavering since it breached its $1 trillion valuation earlier this year. The stock has fallen ~5% since Labor Day, but it has risen 66.2% year-to-date.