Online retail behemoth Amazon is planning a big move that may affect millions of Americans, and chip away at one of the biggest forms of employment in the nation.
A peek into the future
A report says that Amazon plans to open as many as 3,000 physical stores by 2021 – but without any cashiers.
Spencer Soper of Bloomberg first reported the news that will likely disrupt the industry of quick food stores like 7-Eleven, Subway, and Panera Bread.
Amazon has already built four stores with the high-tech concept, with their first store opening in Seattle in 2016. Customers pick up what they want and are scanned and charged automatically, without having to wait in line for a cashier to physically handle their purchase.
But, by competing with chains that use cashiers, the move will put pressure to reduce the role of the job that is the number 2 most common job in the United States. 3.5 million Americans work as cashiers, making up about 2.3 percent of all employees.
“Amazon needs to figure out how to grow this,” said Soper, “but limit the cost because the cost of this technology is extremely expensive right now and so by narrowing the focus on simply prepared food, they can keep the cost down and expand more quickly.”
The cost of the technology in just one store cost Amazon one million dollars.
News of the proposal sent the stock prices of Amazon’s competitors to negative territory Wednesday afternoon.
Here’s more about the news from Spencer Soper:
Amazon and its CEO Jeff Bezos has taken a lot of criticism and mockery from President Donald Trump via his Twitter account.