Amazon Go could be a multi-billion dollar business for the retail giant, according to new figures reported by Re/Code. Analysts at RBC Capital Markets concluded that Amazon Go stores could earn 50% more than conventional stores. They found that the average store generates an estimated $1.5 million in revenue annually. Amazon plans to open up to 3,000 stores over the next two years, meaning the business could be worth around $4.5 billion by 2021. However, each store requires a $1 million investment in hardware before it opens.
Amazon’s new cashless, cashierless stores — which allow customers to just grab items off shelves and automatically get charged upon exiting, thanks to a bevy of sensors and cameras — bring in about 50 percent more revenue on average than typical convenience stores, according to new estimates from RBC Capital Markets analysts.