Amazon’s Cashless Dream Might Be Already Dead

The latest Amazon Go store proved that Amazon’s cashless dream might already be dead. All of the things we watched in sci-fi movies actually exist today and unfortunately, it’s only a question of time when that will no longer be viable.

  • The Future of Amazon’s Go Stores

The future of Amazon’s Go cashless stores is incredibly weak. Those who support cashless models state that the number of customers using cash to pay is very small. For that reason, Amazon should exclude the possibility of using cash. This will further reduce the time needed to return change to the customers.

But, not all the customers agree. This is why the latest Amazon Go store in New York City accepts cash. Business Insider tested this feature and it worked well. So, is the Amazon Go really a futuristic store? Definitely no.

  • Amazon’s Unfulfilled Dreams

Amazon Go stores do really well in terms of sales, yet it’s not the experience Amazon have imagined it to be. A vast majority of users will still use their cash to pay stuff, which makes Amazon Go less futuristic.

To remedy that, Amazon added multiple payment methods and as they say, they’re still in the process of learning and hearing out feedbacks. As of now, cashier-less stores are under scrutiny from local governments and state, as those without a bank account or credit card aren’t able to pay.

  • Amazon isn’t The Only One Bringing Back Cash

Back in 2016, Sweetgreen, a famous salad chain, went cashless. They’ve put this plan into perspective for exactly three years, only to announce that they’ll be bringing back cash in 2019. They say that going cashless had positive results, yet excluded those who prefer paying using only cash. Logically, this means that the profit can be decreased over the period of time.

Cities such as San Francisco and New York are going to accept cash again. Massachusetts, New Jersey, and Philadelphia all require their stores to accept cash. That being said, this future isn’t as close as many predicted.┬áSource: businessinsider

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.