Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Amazon Go. Photo: Stephen Brashear/Getty

A handful of American companies, from giants like Amazon and Walmart to upstarts like Standard Cognition and Zippin, are betting on a windfall for whoever works out the bugs in cashierless checkout — and makes it cheap. But like so much of tech, it's a global race, and the Chinese are surging ahead.

American retailers may be focused on the wrong thing. Their obsession is with totally hands-free checkout, which Amazon dubs "just walk out." But Chinese retailers have figured out that there are cheaper and easier ways to eliminate checkout lines.

Amazon's technology — through which cameras pick up what shoppers are buying so they can be automatically charged when they leave the store — has thus far only worked in small stores, like a 2,500-square-foot Amazon Go. With its Sam's Club Now, Walmart is going small, too, not having figured out as yet how cashierless can work at a large scale.

But, but, but: China's retail giants — Alibaba and JD.com — have tackled scale and lines without killing checkout altogether. Instead, they use the power of mobile payments. Rather than being monitored by ubiquitous cameras and sensors, Chinese shoppers pay for everything from street food to new laptops by scanning QR codes with their cellphones.

  • This approach works in any size store.
  • It also means that "the shift to cashier-free stores doesn't require as much of a change in consumer habits as it does in the U.S.," says Zoe Leavitt, a retail analyst at CB Insights.
  • For example, shoppers at Alibaba's Hema — its chain of full-size grocery stores — simply stroll the aisles, scanning their vegetables, meat and other goods.

The bottom line: Billions of dollars are being spent on perfecting cashierless checkout, but getting American consumers to switch to mobile payments may be an easier and cheaper way to streamline shopping in the long run.

Go deeper

Biden to meet with U.S. financial regulators on Monday

Photo: Drew Angerer via Getty Images

President Biden will meet with financial regulators on Monday.

Driving the news: "The meeting will cover regulatory priorities including climate-related financial risk and agency actions to promote financial inclusion and to responsibly increase access to credit," said press secretary Jen Psaki, according to a press pool report.

Updated 3 hours ago - Economy & Business

The next worker fight: Time off for Juneteenth

Illustration: Annelise Capossela/Axios

Who gets paid time off to celebrate Juneteenth in the years to come will be uneven and complicated, if history is any guide.

Why it matters: Corporate America hasn't grappled with a new federal holiday since Martin Luther King Jr. Day was authorized almost 40 years ago. How they responded took years to evolve.