According to a new report from KBV Research, the global retail automation market is poised to grow by CAGR 11.5% by 2023. If you’re a grocer, you’re probably wondering what all the fuss is about; you’ve likely offered self-checkout options for many years. But over the next few years, our industry will see a major new wave of adoption from a much wider range of stores – and the options will go far beyond the typical self-checkout (SCO) terminal you used yesterday to scan your 15 items or less.
Ubiquity Drives Acceptance
Shoppers know SCO. They’ve seen it, they’ve tried it. In a recent survey, self-checkout rated highest out of a variety of retail technology on a “consumer consciousness scale” … 71% of shoppers were familiar with the concept. That familiarity offers retailers some interesting new opportunities:
- Retailers outside the grocery aisle can feel confident that their customers will understand and choose SCO if they implement the option in their stores. We anticipate a rise in adoption at C-stores, “big box” outlets, quick-serve restaurants and more.
- Now is the time to introduce new self-service tools and solutions across the industry. Fully automated self-service encompasses SCO, kiosks and mobile integration – and consumers are ready for these new options.
Self-checkout solutions enable retailers to save on labor expenses and redirect those funds to areas that are becoming more critical to enticing modern shoppers: personalized service, expert advice, holistic insight to inventory and new products. As brick-and-mortar stores position themselves for digital competition, those “high-touch” experiences will be the most compelling differentiators they have to offer consumers. And along the way, the line between “shopping” and “purchasing” will begin to blur. Last year, Amazon gave us a peek at the future. Today, our SCO and self-service tools enable you to lay the foundation for that future, while offering your consumers an experience that gives them the things they want most: speed, simplicity and choice.