Amazon Sets To Take On 7-Eleven With 3000 Cashier-less Stores

  • Sep 20, 2018 AEST
  • Team Kalkine
Amazon Sets To Take On 7-Eleven With 3000 Cashier-less Stores

Amazon is planning to open 3,000 cashier-less Amazon Go Stores by 2021. The company already had opened Go stores in four locations, but it will have open 6 more at additional locations by the end of the year and as many as 50 to be opened by 2019. This will give competition to existing convenience chains like 7-Eleven to quick-service food stores like Subway and even entrepreneur-owned restaurants and taco trucks.

Amazon already has nearly 500 new Whole Foods locations which the company can use as test platforms for new point-of-sale experiments, as well as one functioning Amazon Go store already operating near its HQ in Seattle. Further, the company has announced plans for upcoming sites in an additional store in Seattle and new ones in Chicago, New York and San Francisco. This is the latest example of Amazon's rapidly growing businesses, the latest being its advertising unit, which is expected to be ranked third in the US digital ad market.

The major hurdle is the cost of setting up shop. The first Amazon Go in downtown Seattle has incurred cost in millions to build, stock and put into operation, and company has yet to nail down the final concept. Therefore the question is whether to open up a convenience store that sells fresh foods and a limited grocery selection, like a gas station or convenience store etc. Moreover, the expansion could lead to Amazon back into an investment cycle, raising funds to bet money on the long-term success of this concept. 

On the other hand, there is news that European Union (EU) is keeping a check on Amazon with regards to collection of information relating to sales that is made by competitors on Amazon Marketplace. Further, EU is trying to understand how Amazon is trying to maintain an edge with regards to selling products to customers.

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