Their concept is built on an app and algorithms to monitor what you pick up how much it is and if you change your mind and place it back on the shelf. The technology is said to work very similarly to the self-driving concept.
Amazon says that they will fit their schematics in their store and only require you to log in when you step into the shop. From their pick, what you want and the app will tally it for you. Once you step out of the store, the app will deduct the amount for you automatically from your virtual wallet.
With all the hype surrounding Amazon's new initiative, the biggest fear is that it would lead to loss of millions of jobs and plummet store profits.
"There's this idea that workers don't add value," Erikka Knuti told the Dori Monson Show. "That they are a line item cost on a budget that you slice and dice. The reality is that these are the faces that smile and put money into the cash register at the point of sale. They are the faces of these brands and have inherent value. We vehemently oppose the idea that they don't have an intrinsic value to the company."
Either way, Amazon has put their competitors on alert. If they manage to pull off this leap in technology experts, believe that they could double their stake to $800 billion.