WATCH: Amazon’s first ‘store of the future’ opens today

Credit: DaytonDailyNews

Amazon’s first store, which has no checkout lanes, opened today in Seattle.

The new concept Amazon Go will give consumers "the world's most advanced shopping technology so you never have to wait in line," according to the online retail giant. Some industry experts are calling the concept the future of brick-and-mortar retail.

» MUST-READ BUSINESS NEWS: Amazon raises price of Amazon Prime monthly memberships

So, how does it work? Consumers use the Amazon Go app to enter the store, take the products they want and walk out. No checkout. No lines.

The store’s technology uses computer vision, sensor fusion and deep learning to automatically detect when products are taken or returned to the shelves and keep track of them in a virtual cart. Customers grab their items and go, and then their Amazon account is charged with the bill. The store will offer ready-to-go meals, grocery essentials and even locally made food.

The first store in Seattle is about 1,800 square feet of retail space.

FIVE FAST BUSINESS READS

• Gander Mountain stores to reopen under new name

• Walmart reportedly cutting more than 1,000 jobs

• German grocery chain Lidl halts plans to open local store

• Bitcoin prices are plunging. What's really going on with cryptocurrency?

• Grand opening date set for At Home store in Beavercreek

About the Author