The invisible payment and other connected technologies will change the model of store that we know today. And this translates into business. Smart store technologies will generate more than $ 78 billion in 2022.
Traditional trade is going through a time of change. The rise of ecommerce has been a real challenge for physical stores, with the appearance of phenomena such as showrooming. And now the establishments are immersed in the challenge of digitization, from mere shop windows to smart and connected points of sale.
According to Juniper Research’s ‘Future In-store Retail Technologies: Adoption, Implementation & Strategy 2017-2022’ report , smart store technologies will move more than $ 78 billion in transactions in 2022, compared to $ 9.8 billion will generate this year. The study points out that these technologies – including “invisible payment” systems such as Amazon Go, focused on reducing or eliminating physical payment boxes – will boost store revenue.
Juniper estimates that these technological deployments will reach more than 5,000 outlets in the next five years. It states that retailers will bet on such systems in order to improve the consumer experience and increase the rapprochement to their customers. In addition, the research anticipates that the use of self-payment applications, which allow the scanning and payment of the products of their own purchase, will grow to surpass 30 million users in 2022, a significant increase from just under 4 million people which currently employ them.
However, the report warns that the cost and complexity of integrating the infrastructure needed to implement ‘invisible payment’ systems will limit its deployment in the short term. In fact, the consultancy believes that most of the revenue from new retail technologies will come initially from the download of applications and automatic scanning, which have lower initial costs than technologies like Amazon Go or Panasonic’s robotic purchase , of which Fortune echoed . In addition, they can be used as information and promotion platforms , thus increasing overall expenditure. Juniper points out thatthese technologies could mean an average revenue increase of $ 300 per buyer per year through 2022.
The study indicates that this set of technologies, ranging from the provision of mobile outlets to automated checking of inventory, is transforming the role of dependents, transforming from mere tellers to counselors, capable of offering a more mobile and personalized service. “Retailing technologies are moving to make the retailer more focused on experience,” said James Moar, author of the report.