Amazon (AMZN) is rolling out its cashier-less checkout technology called “Just Walk Out” to more stores. The first full-size Amazon Fresh grocery store with this technology is scheduled to open in Bellevue, Washington, on June 17.
The store will offer two checkout options. Customers can choose the traditional checkout method, where they will be served by Amazon cashiers and have the option to pay with cash or cards. Alternatively, customers can use the Just Walk Out option, where they will be able to skip the checkout line and save time.
At the store’s entry gate, customers will be prompted to choose their preferred checkout option. Those who choose the Just Walk Out option will need to complete one of three tasks before entering the store. Scan their palm using Amazon One, scan the QR code in their Amazon app, or insert a payment card linked to their Amazon account. Once done, the Just Walk Out gate will open to let the customer in.
“Customers have enjoyed the effortless shopping experience enabled by our Just Walk Out technology…The feedback has been fantastic, with customers noting that skipping the checkout allows them to save time and reduce contact in stores,” commented Dilip Kumar, Amazon’s VP of Physical Retail and Technology.
Amazon has rolled out the cashier-less checkout technology to several Amazon Go and Amazon Fresh-branded grocery stores in the U.S. and U.K. It also offers the technology to third-party retailers. (See Amazon stock analysis on TipRanks)
Yesterday, JPMorgan analyst Doug Anmuth reiterated a Buy rating with a price target of $4,600 on Amazon stock. The analyst’s price target implies 35.97% upside potential.
Anmuth believes that Amazon is on track to overtake Walmart (WMT) as the largest retailer in the U.S. in 2022. The analyst also expects retail spending to continue to shift online, with e-commerce retail reaching 30% in 2025 and 50% over time.
Consensus among analysts is a Strong Buy based on 31 Buys. The Amazon average analyst price target of $4,295.17 implies 26.96% upside potential to current levels.
AMZN scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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