By Jeffrey Dastin
(Reuters) – Amazon.com Inc (O:) on Monday is set to announce a new business line selling the technology behind its cashier-less convenience stores to other retailers, the company told Reuters.
The world’s biggest web retailer said it has “several” signed deals with customers it would not name. A new website Monday will invite others to inquire about the service, dubbed Just Walk Out technology by Amazon.
The highly anticipated business reflects Amazon’s strategy of building out internal capabilities – such as warehouses to help with package delivery and cloud technology to support its website – and then turning those into lucrative services it offers others.
Its chain Amazon Go has brought shopping without checkout lines into the mainstream, and the market for retail without cashiers – one of the most common vocations in the United States – could grow to $50 billion, U.S. venture firm Loup Ventures has estimated.