Customer First Cashierless Shopping and Self-Checkout Theft. This post summarizes the opportunities and challenges of the retail self-service global innovation journey. Primary focus is on the state of self-checkout, mobile scan-and-go adoption, and an update on global autonomous store deployments.
NO one is safe or immune from retail transformation. Customer decide what, when and where, not the retailers. The retailers who will thrive are the ones who seek out trends and quickly adapt to stay relevant.
A product centric heritage has perpetuated a focus on purchases. Winning is no longer just about the sale today, but how to reduce the overall customer effort and making it easy to do business across time and place.
The “passenger economy” created by the convergence of autonomous vehicles and ride-hailing will be worth $7 trillion a year by 2050. In USA, consumers spend 1.2 billion hours per week driving to the mall, finding parking, wondering around aisles, checking out and driving home. Smart Car Innovation.
To grow subscriptions and ecommerce volume in general, retailers must do more than deliver the last mile. Home delivery is NOT a highly valued convenience if the customer has to worry about time slots, access or theft.
In responding to customers escalating demands, most retailers do not have the resources to do everything in house. Finding the right partners can bridge gaps to create win-wins that will be critical for future survival.
The rules of retailing "are being rewritten in this time of transformative change. Innovation, integration, and automation will be required to reinvigorate commerce, profoundly impacting the way retailers do business now, and in the future. Global Top 250 retailers, welcome to the disruptive future.
Rising consumer expectations are creating unprecedented demands disrupting traditional retail. CEOs not only must deliver quarterly profit, but also cope with a new reality - "the future ain't what it used to be".