In 2018 we expect retail to change even more with both Amazon Go and Bitcoin. Amazon has changed how we shop, 2017 saw the great retail apocalypse pick up steam. Bitcoin has grabbed all the headlines and is gaining acceptance.
In 2018 we expect retail to change even more with both Amazon Go and Bitcoin. Amazon $AMZN has changed how we shop, 2017 saw the great retail apocalypse pick up steam. Bitcoin has grabbed all the headlines and is gaining acceptance.
American consumers have shifted their purchasing habits with the rise of e-commerce. Amazon Go will change things further should it take hold. Amazon is aiming for the convenience factor and I want it now consumer mentality to take hold.
What is Amazon Go? No Lines, No Checkout
Amazon describes Amazon Go as ‘a new kind of store with no checkout required. We created the world’s most advanced shopping technology so you never have to wait in line. With our Just Walk Out Shopping experience, simply use the Amazon Go app to enter the store, take the products you want, and go! No lines, no checkout’
After more retail bankruptcies in 2017 and household names including J.C. Penney, RadioShack, Macy’s, and Sears all announcing over 100 store closures EACH it has been an abbrasive year for retailers. We saw the sector rocked when Amazon bought out Wholefoods with investor panic causing mass sell offs in grocers such as Kroger $KRO.
We have seen Sports Authority liquidatedand Payless file for bankruptcy. Apparel companies Lululemon $LULU, Urban Outfitters $URBN, American Eagle $AEO, Ralph Lauren $RL and Under Armour $UA stocks all hit multi year lows.
Currently the flagship Amazon Go store is located at 2131 7th Ave, Seattle, WA, on the corner of 7th Avenue and Blanchard Street. It would seem a natural rollout through the Wholefoods network through 2018.
Our checkout-free shopping experience is made possible by the same types of technologies used in self-driving cars: computer vision, sensor fusion, and deep learning. Our Just Walk Out Technology automatically detects when products are taken from or returned to the shelves and keeps track of them in a virtual cart. When you’re done shopping, you can just leave the store. Shortly after, we’ll charge your Amazon account and send you a receipt.
Bitcoin Gaining Acceptance
The other big change in 2018 we suspect is more acceptance of the cryptocurrency bitcoin as a form of exchange. The price of bitcoin rocket from under $1000 to over $20,000 at one point in 2017. The high transaction fees and blockchain evolution seem a logical shift to all bitcoin transactions.
There are over 100,000 merchants that accept Bitcoin. What matters are which are legimate and trustworthy. Common sense needs to prevail.
Names that Accept Bitcoin Currently Include:
- Overstock.com
- Dish
- Intuit
- eGifter
- Expedia
- Newegg
- Microsoft
- Reeds Jewellers
- Pizza for Coins
- Roadway Moving Company
- Paypal
The big queston is when can you use your Bitcoin when you shop at Amazon?
From The TradersCommunity Research Desk