State of the Industry
The rise of self-checkout technology is a game-changer for the retail industry, perfectly aligning with modern consumer preferences and operational needs. Adopting self-checkout isn't just about making the checkout process smoother. It's a strategic step towards a retail revolution that enables businesses to adapt faster, gain deeper insights into customer behavior, and create more personalized shopping experiences.
As retailers reshape the landscape of in-store shopping, self-checkout becomes a crucial tool for enhancing customer satisfaction and operational profitability. This report provides a comprehensive view on how retailers can embrace self-checkouts to move towards a more agile, data-driven, and customer-centric business model.
As consumers continue to reshape their expectations,
enterprises must contend with a uniquely challenging landscape.
The consumer technology landscape is forever changing.
From Pinterest to TikTok, WeChat to Instagram, new experiences can rapidly gain consumer adoption and relevance.
From augmented reality to voice, smartwatches to chatbots, consumers are constantly embracing new interaction paradigms.
Commoditized convenience is eroding loyalty and margin.
Consumers expect convenience. If you can't deliver it, they'll go elsewhere - e.g. next day shipping becoming the new standard.
Walmart will reportedly lose USD 1 billion on eCommerce revenue of USD 21 billion this year as it faces challenges in its bid to complete against Amazon – from trouble integrating its DNVB acquisitions to impact on margin from its next-day delivery operations.
Consumers value experiences that are curated to fit their lives better.
They want to engage, be served, and transact at their time, their pace, their place. They have little patience, infinite choice and the freedom to swipe left at the slightest hint of friction.