Amazon is making its contactless identity service available in more stores to enhance its customers’ shopping experience. The e-commerce giant has confirmed that Amazon One will be added to seven Whole Foods Market stores in the Seattle area.
Amazon One’s addition into seven other stores follows a successful roll-out that has seen thousands of customers sign up. The identity service stands out as it offers a fast, convenient, contactless way for people to enter, identify and pay for their items. Amazon (AMZN) has already made the payment service available in Amazon Go, Amazon Pop Up stores, and Amazon Go Grocery in Seattle.
Expansion of Amazon One identity and payment options into Whole Foods Market stores should help enhance the shopping experience when paying for various items.
“Working closely with Amazon, we’ve brought benefits like Prime member discounts, online grocery delivery and pickup, and free returns to our customers, and we’re excited to add Amazon One as a payment option beginning today,” said Whole Food’s Chief Technology Officer (CTO), Arun Rajan.
Amazon shares are up 3% year to date after a 76% rally in 2020. (See Amazon stock analysis on TipRanks).
Oppenheimer analyst Jason Helfstein remains bullish on Amazon. The analyst has confirmed the raising of AWS’ revenue estimates ahead of 1Q 2021 results as he waits to see the kind of investments the company will make.
“We expect funds to be redeployed to expand grocery, pharmacy, and advertising. Additionally, Street will focus on the sustainability of eCommerce sales growth given out-sized 2020 share gains and how the pandemic and re-opening impact AWS outlook,” Helfstein wrote in a research note to investors.
The analyst has since reiterated an Outperform rating on Amazon stock. The analyst also has a $4,200 price target on the stock, implying 24.9% upside potential to current levels.
Consensus among analysts is a Strong Buy, based on 32 Buy ratings. The average analyst price target of $4,106.60 implies 22.15% upside potential to current levels.
A score of 8 out of 10 on the TipRanks’ Smart Score rating tool indicates that Amazon could outperform market averages.
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