Consumer Discretionary Tesla Motors, Inc. (NASDAQ:TSLA) Eyes Autonomous Stores in Future

Tesla Motors, Inc. (NASDAQ:TSLA) Eyes Autonomous Stores in Future

Published By Blake Audett at October 19, 2016 01:17 pm

We have heard a lot about automobile companies working on autonomous cars as they are considered to be the future of the industry. But not a lot of people will have thought about autonomous stores opening in the near future. This might turn out to be true, according to Ganesh Srivats, Vice President of North American Sales at Tesla Motors Inc. (NASDAQ:TSLA).

According to a report by Electrek, Mr. Srivats said at the Fashion Tech Forum that his company was now looking to change its retail store experience from assisted to autonomous. He believes that with the increase in online shopping, the idea of autonomous stores would not be difficult for customers to adopt.

Users do not have to rely on a lot of support when they are shopping online as they usually do while shopping at a brick-and-mortar store. No guidance is needed in online shopping and that is why Tesla Motors is also looking to bring in autonomous stores where customers can just walk in and buy things without any human support.

Ganesh Srivats also believes that companies will have to look at new ways of adapting to the changing retail conditions of the world. It is now getting easier for people to buy cars online; you can buy a Tesla with your iPhone. With the increasing demand for its cars, particularly Model 3, the Palo Alto company needs to ensure that it has a retail presence everywhere for its customers.

Fashion Tech Forum is a forum where executives from different companies from the tech and fashion industry come together to learn how the other industry is moving forward in the retail department. Mr. Srivats, who has previously worked with Burberry, is now bringing in more people from the fashion industry to Tesla.

Tesla Motors has been slowly and gradually opening more stores in different countries in order to sell its cars directly to customers. Its most recent opening came in Ireland where the company announced that it would open a store in Dublin and also install a supercharging station in the city. Tesla will also install three additional super chargers in Belfast, Galway, and Cork.