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Amazon (AMZN) Opens New Amazon Go, Boosts Cashierless Drive
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Amazon (AMZN - Free Report) is making every effort to disrupt the retail sector further on the back of its advanced cashierless technology.
Reportedly, the e-commerce giant has opened an Amazon Go store in Woodland Hills, which marks its third cashierless store in Los Angeles.
Notably, the new store, with a footprint of 5,000 square feet, is located at 22001 Ventura Blvd. and features Just Walk Out technology, which allows customers to shop and leave without going through a checkout line.
Customers can enter the store by scanning the in-store QR code, using Amazon One, or by inserting a credit or debit card to open the Just Walk Out gates.
The underlined store offers everyday essentials, a range of grab-and-go food and beverage items such as beer, wine and spirits, and a wide variety of local food and beverage items from businesses like LOV Bakery, Smog City Brewing Co. and Three Weavers Brewing Co., to name a few. It also offers self-serving specialty beverages on tap.
Further, the underlined store features a made-to-order kitchen, which provides around 30 freshly prepared breakfast and lunch items.
We note that the latest move strengthens Amazon’s physical presence, which is a major positive. This is likely to contribute well to its physical store sales in the near term.
In third-quarter 2022, the sales of physical stores grew 10% year over year to $4.7 billion.
Expanding Cashierless Technology
The recent move bodes well for Amazon’s deepening focus on revolutionizing the retail industry on the heels of AI and Machine Learning (ML) technologies.
Amazon is currently enjoying solid momentum across the retail industry with its Just Walk Out technology by delivering an enhanced shopping experience to customers.
With the cashierless concept, the company helps customers save time by avoiding checkout queues and paying for purchased items via their smartphones from anywhere.
Amazon is on a spree to expand the underlined technology across its retail stores.
Apart from the latest move, the company’s opening of its first Just Walk Out technology-backed Whole Foods Store in Washington, D.C., remains a positive.
The introduction of the technology in the Amazon Fresh grocery store also remains noteworthy.
Further, Amazon’s rapidly expanding Amazon Go stores remain a major tailwind. Notably, Amazon currently has more than 25 such stores.
Other than Amazon Go, the Just Walk Out technology is currently available in many Amazon Fresh stores in the United States and the U.K.
The company also sells the technology to third-party retailers. The company recently introduced the underlined technology in a Major League Baseball (‘MLB’) stadium at Minute Maid Park.
We believe the growing proliferation of AI, ML and Internet is likely to drive momentum across the company’s cashierless concept.
Growing Retail Focus
Amazon’s latest move bodes well for its strengthening retail strategies, which include bolstering its online as well as offline retail presence, boosting distribution channels and accelerating delivery.
Apart from the new Amazon Go store, the company recently opened its first clothing store, namely Amazon Style, in Glendale, near Los Angeles, CA, which stocks clothing from a wide range of brands, including Levi’s, Tommy Hilfiger, Lacoste, Steve Madden and Champion, to name a few.
Further, the store leverages ML technology to offer an enhanced and smart shopping experience to the customers by helping them find the item they are looking for.
In addition, the company’s intentions to expand its Whole Foods store network across the United States remain noteworthy.
The increasing number of Amazon Fresh grocery stores across the United States is another positive. Presently, there are more than 20 outlets.
Further, expanding the Amazon 4-star store, which stocks four-star or beyond-rated products from categories like kitchen appliances and other items, home stuff, toys, books, devices, consumer electronics and games, remains another positive.
We note that the deepening retail focus of Amazon is likely to aid in winning investors’ confidence in the near term.
Coming to the price performance, Amazon has lost 42.1% on a year-to-date basis against the industry’s decline of 37.5%.
Image: Bigstock
Amazon (AMZN) Opens New Amazon Go, Boosts Cashierless Drive
Amazon (AMZN - Free Report) is making every effort to disrupt the retail sector further on the back of its advanced cashierless technology.
Reportedly, the e-commerce giant has opened an Amazon Go store in Woodland Hills, which marks its third cashierless store in Los Angeles.
Notably, the new store, with a footprint of 5,000 square feet, is located at 22001 Ventura Blvd. and features Just Walk Out technology, which allows customers to shop and leave without going through a checkout line.
Customers can enter the store by scanning the in-store QR code, using Amazon One, or by inserting a credit or debit card to open the Just Walk Out gates.
The underlined store offers everyday essentials, a range of grab-and-go food and beverage items such as beer, wine and spirits, and a wide variety of local food and beverage items from businesses like LOV Bakery, Smog City Brewing Co. and Three Weavers Brewing Co., to name a few. It also offers self-serving specialty beverages on tap.
Further, the underlined store features a made-to-order kitchen, which provides around 30 freshly prepared breakfast and lunch items.
We note that the latest move strengthens Amazon’s physical presence, which is a major positive. This is likely to contribute well to its physical store sales in the near term.
In third-quarter 2022, the sales of physical stores grew 10% year over year to $4.7 billion.
Expanding Cashierless Technology
The recent move bodes well for Amazon’s deepening focus on revolutionizing the retail industry on the heels of AI and Machine Learning (ML) technologies.
Amazon is currently enjoying solid momentum across the retail industry with its Just Walk Out technology by delivering an enhanced shopping experience to customers.
With the cashierless concept, the company helps customers save time by avoiding checkout queues and paying for purchased items via their smartphones from anywhere.
Amazon is on a spree to expand the underlined technology across its retail stores.
Apart from the latest move, the company’s opening of its first Just Walk Out technology-backed Whole Foods Store in Washington, D.C., remains a positive.
The introduction of the technology in the Amazon Fresh grocery store also remains noteworthy.
Further, Amazon’s rapidly expanding Amazon Go stores remain a major tailwind. Notably, Amazon currently has more than 25 such stores.
Other than Amazon Go, the Just Walk Out technology is currently available in many Amazon Fresh stores in the United States and the U.K.
The company also sells the technology to third-party retailers. The company recently introduced the underlined technology in a Major League Baseball (‘MLB’) stadium at Minute Maid Park.
We believe the growing proliferation of AI, ML and Internet is likely to drive momentum across the company’s cashierless concept.
Growing Retail Focus
Amazon’s latest move bodes well for its strengthening retail strategies, which include bolstering its online as well as offline retail presence, boosting distribution channels and accelerating delivery.
Apart from the new Amazon Go store, the company recently opened its first clothing store, namely Amazon Style, in Glendale, near Los Angeles, CA, which stocks clothing from a wide range of brands, including Levi’s, Tommy Hilfiger, Lacoste, Steve Madden and Champion, to name a few.
Further, the store leverages ML technology to offer an enhanced and smart shopping experience to the customers by helping them find the item they are looking for.
In addition, the company’s intentions to expand its Whole Foods store network across the United States remain noteworthy.
The increasing number of Amazon Fresh grocery stores across the United States is another positive. Presently, there are more than 20 outlets.
Further, expanding the Amazon 4-star store, which stocks four-star or beyond-rated products from categories like kitchen appliances and other items, home stuff, toys, books, devices, consumer electronics and games, remains another positive.
We note that the deepening retail focus of Amazon is likely to aid in winning investors’ confidence in the near term.
Coming to the price performance, Amazon has lost 42.1% on a year-to-date basis against the industry’s decline of 37.5%.
Zacks Rank & Stock to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the retail-wholesale sector are Ross Stores (ROST - Free Report) , Expedia Group (EXPE - Free Report) and Walmart (WMT - Free Report) . While Ross Stores sports a Zacks Rank #1 (Strong Buy), Expedia and Walmart carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ross Stores has gained 3.3% on a year-to-date basis. The long-term earnings growth rate for the ROST stock is currently projected at 10.5%.
Expedia has lost 41.4% on a year-to-date basis. The long-term earnings growth rate for the EXPE stock is currently projected at 14%.
Walmart has gained 6% on a year-to-date basis. The long-term earnings growth rate for the WMT stock is currently projected at 5.5%.