Cashier-less stores are now the present, not the future, of retail

Everyone hates standing in line – the feeling of time spent waiting can seem like a major drawback, both to people and to the economy. Shoppers in the increasingly digital age are used to fast and convenient experiences, and just like their online habits, they want to spend less time shopping, especially during a pandemic when consumers are hyper aware. pitfalls of a tactile retail experience. .

According to a study commissioned from Forrester Research and Digimarc, the checkout experience has become a must for buyers. Long lines are the most common reason for dropping out of races. As a result, slow payment terms have a negative impact on income, both short and long term. A long and uncomfortable wait can affect a customer’s view of a brand, cause people to leave a queue, or even skip the store altogether depending on past experience.

Purchase frustration

A detailed study of Omnico in the United States report studied the the shopping problems of 2,008 consumers in the United States, in conjunction with their attitudes towards technology. Almost 74% of respondents say technology will make shopping easier. To illustrate how familiar consumers are with market-ready technical innovations, 86% want to use scan and payment apps for cellphones or tablets in order to skip lines and save time, while 82% are ready. to use kiosks to make entries. store payments faster and easier. More than half (52%) believe that enabling payments at kiosks will improve their experience and efficiency.

These assumptions are well supported by the speed with which retail technology is advancing, aimed at increasing productivity and saving retailers money. One important change that has accelerated in recent years is to change the checkout experience by completely eliminating cash and cashiers and using innovation in automatic and / or automated checkout.

A shopper scans the Amazon Go app to enter the Amazon Go store in Seattle, Washington. (Photo by STEPHEN BRASHEAR / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

The rise of cashier-less stores

“Tapping” on this evolving payment trend, cashierless stores have become a disruptive new concept in retail and are gradually gaining traction in the market.

Amazon led this transformation with a revolutionary solution, introducing its first cashierless retail store concept in 2018. CEO Jeff Bezos said Go stores are a prime example of Amazon’s efforts to “delight” customers, calling checkout lines the “worst thing about physical retail” in the Letter to shareholders 2018.

The company also recently set up its Amazon Go cashier-less stores in some cities, with other retailers are following suit. Mastercard is also joining the effort by partnering with retail technology company Accel Robotics recently. unveiling of a Shop Anywhere platform.

Senior Vice President of Retail Innovation Stephane Wyper for Mastercard said, “Even before COVID, the evolution of frictionless experiences is something we were already seeing retailers investing in and testing in. “

“Based on the demand we’re seeing, we expect this to grow and expand. It’s not just the United States; we see it as a global trend, ”added Wyper. In addition, French players, such as retailers Monoprix SA and technology company BingoBox from China, have embraced the new retail experience using digital technologies such as AI and IoT.

Cashier-less technology is here to stay

Cashier-less store technology offers customers a omnichannel experience driven by machine learning, deep learning, algorithms run by AI and data analytics. So how exactly does it work?

Thousands of cameras and Internet of Things (IoT) sensors are located in stores. In addition, computer vision and deep learning algorithms allow customers to enter and exit stores without paying. However, shoppers must first use a smartphone app to enter the store without a cashier.

The smartphone app will ask the user to scan a QR code for authentication. In-store shopping can be made even more accessible with a smart shopping cart equipped with barcode scanners, sensors and scales that scan grocery links to online shopping lists. The basket can scan items with a barcode and weigh products without a barcode.

Customers then leave via a special sensor-based lane that automatically debits the credit card linked to their account. The app also records all data about a user’s purchases. A well-known concept of big data analysis then uses association mining to identify the purchasing behavior of users in order to gain additional insight.

As a result, buyers don’t have to queue or carry a wallet to pay. And through the use of biometrics, shoppers can enjoy a safer and smoother shopping experience. Apart from the products they want, you don’t have to touch anything, and it’s a perfect shopping experience in the age of the new normal.

Brick-and-mortar stores are taking disruptive indicators of e-commerce and actively changing the way people shop, and with other brands established following the Amazons’ lead, it’s safe to say that the future of retail is shaping up. passes without a cashier.

Previous Dollar Loan Center aims to open in Henderson in early 2022
Next After the first Fusion NFTs ™ ️ well-received, Coinllectibles ™ ️ will launch Qing Dynasty Era Collectibles as part of Fusion NFTs ™ ️ Bronze Series 2 on October 1, 2021 (Fri) at 12pm (GMT +8)