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Sign into your accountAmazon Go reveals the future of shopping. How will this translate to real estate?
December 05 2016
The latest unveiling in the Internet of Things came from Amazon today with their announcement of Amazon Go, a convenience store without checkout lines. Patrons of the store, scheduled to open in 2017, scan an Amazon Go app upon entrance. Once their app is scanned, they simply shop and leave. There is no waiting and no registers.
The technology has been in development four years and uses a combination of AI, machine learning and computer vision. Basically, a mix of algorithms, sensor fusion and a ton of cameras bring this futuristic shopping experience to life.
Anything you pick up while you're in the store is automatically added to your virtual cart. Purchases are charged to your Amazon account and your receipt is sent to your Amazon Go App. The ramifications go beyond the end of price checks. This is one of the first examples of technology woven into a physical environment in a holistic way.
We discussed the trend of the Internet of Things last month and this move by Amazon clearly demonstrates how advanced this has become. Suddenly, the Belltown neighborhood of Seattle isn't just a place to get good sushi, donuts and live music. Now, right there on 7th Ave, you can step into future.
What ramifications might this have for real estate?
First, companies like Amazon are now combining technologies to create new experiences that mold consumer expectations. Today, for example, consumers expect recommendation engines in their online purchasing experience. When you order something online from a vendor, you probably expect that vendor to remember what you ordered and make suggestions when you return. Large companies like Netflix, Spotify, and (yes) Amazon have helped mold these expectations.