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6/9/2014
Location
Lakeland, FL
US
Anybody see the new amazon go grocery store service? Scan your phone as you walk in pick up what you need and walk out. As soon as you walk out it charges your prime account.. (no checkout lines) pretty damn genius amazon is gonna take over eventually IMO.
Well, they're gonna have to get past the cash only crowd, those without plastic.
The washed, those that already are ok with buying online, yea, I can see them getting that segment of the population.
But I don't see it taking off in poorer parts of the country.
Millennials wont use cash or credit cards, they will use cell phones. It's only a matter of time.
The Shop
I worked as a stocker at a grocery store while in high school. I learned the average profit margin is right around 1%. They make money on volume.
If you can reuse the same dollar 5-10 times in the same year, getting a 1% margin in the grocery aisles is a little bit more bearable.
I'm also never going somewhere that can charge my account through my phone when I walk out.
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