Will VC Craze For Cashier-Free Stores Spark Retail Revolution?

News Source: China Money Network.

In case you haven't heard, the next "big thing" after bike sharing has arrived. Welcome to the age of cashier-free convenience stores, the latest craze among venture capitalists in China. Since the launch of Amazon Go, the U.S. e-commerce giant's retail store that requires no cashiers and no check-out, the concept has been quickly adopted in China and taken to a whole new level.

Just two months after Amazon Go's debut in December, there were four or five Chinese copycat companies in operation. Two have already received significant venture funding. Last week, cashier-free convenience store company Bingobox received over RMB100 million (US$14 million) in a series A financing round led by GGV Capital, with Qiming Ventur...



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