Amazon is set to launch 3,000 cashierless stores by 2021

• Amazon is considering opening 3,000 of its cashierless stores by 2021, Bloomberg reports.
• The e-commerce giant currently has three locations — known as Amazon Go — open in Seattle, where Amazon is headquartered, and on Monday opened a location in Chicago.
• Shares of retailers including CVS, Walgreens, Walmart, Target and Kroger moved sharply lower Wednesday afternoon following the news.

Amazon.com Inc (AMZN.O) is considering a plan to open as many as 3,000 new Amazon Go cashierless stores in the next few years. The news was revealed by a report from Bloomberg on Wednesday.

As you'd expect with such news, the stock market felt a disruption with Shares of U.S. supermarket chains Kroger Co (KR.N) and Target Corp (TGT.N) falling between 1 and 2 percent. Amazon also experienced a drop of 1% in its shares.

There are currently  three Amazon Go stores in Seattle, with plans to expand in Chicago, San Francisco and New York in the future.

The Amazon Go store, which has no cashiers and allows shoppers to buy things with the help of a smartphone app, is widely seen as a concept that can alter brick-and-mortar retail.

Customers have to scan a smartphone app to enter the store. Once inside, cameras and sensors track what they pick up from the shelves and what they put back. Amazon then bills shoppers' credit cards on file after they leave.

Check out this video demonstrating the Amazon Go Cashier-less store