Amazon.com Inc (NASDAQ:AMZN) will sell the technology behind its grab-and-go stores to other retailers, the e-commerce giant told the media on Monday.
The Seattle-based company has already signed deals for what it calls "Just Walk Out" technology with multiple customers, a representative told Reuters without naming the retailers.
Amazon will open a website later on Monday, asking other retailers to enquire about the service.
The checkout process for the partners will be slightly different than the one for Amazon's own retail stores called Amazon Go.
The consumers would have to insert a credit card into a turnstile at entry. All items picked by the person would be added to a virtual cart and billed on the credit card at the exit.
Launched publicly in 2018, the Amazon Go stores added further woes for established retailers like Walmart Inc. (NYSE:WMT) Target Corporation (NYSE:TGT) and Costco Wholesale Corporation (NASDAQ: COST) which have already lost a significant chunk of market share to Amazon's e-commerce platform.
The technology that allows consumers to save the time spent at cashier or self-checkout counters could mean that other retailers remain competitive.
Reuters noted that high demand for the product isn't certain however, considering that others, including AiFi and Grabango, offer similar technology to retailers.
The company also relaxed its attendance policy for employees who "work from an office, store, fulfillment center, delivery station or sort center" during the month of March.
The company will not count any unpaid time off and won't assign attendance points to ensure there are no repercussions for needing to stay home due to illness.
Amazon's shares opened down $131.59, or 6.9%, to $1,769.50 on Monday.
