Amazon’s latest venture, Amazon Go, is set to revolutionise the retail industry. The concept involves customers scanning their smartphones upon entering the store, selecting their items, and leaving without having to queue or checkout. Amazon’s technology automatically charges customers’ accounts for their purchases. This innovation could eliminate the need for cashiers, thus saving retailers money and increasing efficiency.
Although Amazon has not confirmed whether they will license this technology to other retailers, industry insiders believe it is a strong possibility. This is not the first time Amazon has revolutionised an industry; they have previously disrupted the book, cloud computing, and film industries.
Amazon’s strategy typically involves developing and refining a product or service before selling it to other businesses. This has been seen with Amazon Web Services (AWS), which started as an internal tool before becoming a lucrative business-to-business service. Similarly, Amazon’s e-commerce platform began as a way to sell books before expanding into other products.
The potential for Amazon Go is vast. If Amazon decides to license the technology, it could transform the retail industry, just as AWS has transformed cloud computing. Amazon’s willingness to experiment and innovate sets it apart from its competitors and continues to drive its success.
Go to source article: http://fortune.com/2016/12/13/amazon-go-jeff-bezos-business-partnerships/