Seattle Shoppers recently got a change to experience the future of shopping with the rollout of Amazon Go store, which offers a true grab and go retail experience with no cashiers required. Instead, a system of cameras and software tracks goods and bills the Amazon accounts of the customers.
This groundbreaking innovation has prompted some questions: what will become of the labor opportunity presented by cashier jobs? What does this retail experience say about the future of tech?
Here are four lessons, thanks to Entrepreneur, that can be learned; Amazon Go.
1. Technology Should Be Embraced as a Value
Technology should not just be seen as a way to cut costs, but a way to offer customers more value as well. It’s not enough to become more efficient internally, offering value to new customers is crucial as well.
2. Lead without Overextending Yourself
Each upgrade should serve a speific purpose, but not wanting to fall behind competitors is a realistic and healthy motivation as well. The best tech investments fit into existing customer expectations without a hitch, while the worst ones confuse and irritate them. You don’t want to be like Juicero, which raised $120 million to make an ineffective juicer no one wanted. It shut down soon after launch.
3. Even if You’re Not Investing, Stay Prepared:
Technology improvements never end. Staying aware of the latest trends can help make sure you stay open to new possibilities and options. Knowing about new tools can make implementation happen faster even if you let the early adopters take the brunt of system bugs.
4. Monitor advances in Other Industries
Looking at other industries can be a great way to think outside the box and find a solution that may not look like an obvious fit. You can also create a small internal team that kicks around new possibilities, like Microsoft Garage, a place where employees play with unusual ideas. This type of thinking can help you find new categories of customers, expand your offerings, and find new solutions that otherwise never would have been considered.