Amazon Just Launched Its Next Multibillion-Dollar Service
Amazon (NASDAQ: AMZN) has a massive retail business, but it generates the bulk of its profits from services like cloud computing, third-party seller fulfillment, and advertising.
The latest service to join Amazon's portfolio is the company's "Just Walk Out" technology, which powers its cashierless Amazon Go convenience stores. Last month, Amazon launched a larger-format cashierless grocery store. That store's perhaps as much an opportunity to push deeper into the grocery market as it is a proof of concept that Amazon's tech works in stores with bigger footprints.
The tech titan already has several agreements with retailers to include its Just Walk Out technology in their stores. Amazon's service could save retailers billions of dollars per year by reducing head count and inventory breakage. And Amazon's top line ought to see a nice boost as a result.
Source Fool.com
