Amazon cashier-less stores are the future, Overstock CEO predicts

By TechnologyFOXBusiness

Overstock CEO on Amazon cashier-less stores, bitcoin 

Overstock.com CEO Patrick Byrne on Amazon's plans for more cashier-less stores and the future of cryptocurrency.

Amazon’s convenience stores of the future will soon become a reality, Patrick Byrne, the CEO of Overstock.com, said on Friday.

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“The God’s of economics have made clear that there’s just huge synergies between brick and click,” Byrne told FOX Business’ Maria Bartiromo on “Mornings with Maria.”

Amazon is reportedly planning to open as many as six cashier-less Amazon Go stores this year, according to Recode, a technology news website.

The e-commerce giant is considering locations in Los Angeles and its homebase Seattle, where the only Amazon Go store launched last month.

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The system allows customers to download an app and scan a QR code to enter the store. Customers are then surveilled as they shop, and items are automatically charged to their Amazon account accordingly after they leave the store.

Once Amazon sorts everything out, more convenience stores will adopt the technology, Byrne predicted.

“I think you’ll see some more of this movement towards Amazon in the future,” he said.

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