News • 12.10.2017

Smart store technologies to generate over 78 billion dollars

Invisible payments & other connected technologies to boost retail revenues as omnichannel strategies move in-store

Shopping Mall
Source: TiM Caspary/pixelio.de

Amazon Go and other ‘invisible payment’ technologies, aimed at reducing or removing physical checkouts from the retail experience, will process over 78 billion dollars in transactions by 2022, up from an expected 9.8 billion dollars this year,  a new study from Juniper Research has found.

These deployments, in single figures today, will reach over 5,000 retail outlets over the next 5 years as retailers seek to make consumer experiences frictionless and more engaging. Meanwhile, the number of consumers using checkout apps, which allows them to scan their own shopping, will grow from just under 4 million to over 30 million in the same period.


Retail Revolution – Is It Worth It?


The report, Future In-store Retail Technologies: Adoption, Implementation & Strategy 2017-2022, found that the cost and complexity of infrastructure integration will constrain deployments of invisible payments systems in the short term. It argues that initially, the majority of revenues from new retail technologies would be derived from 2 elements:

  • Checkout apps
  • Automatic scanning

These have lower upfront costs than setups like Amazon Go or Panasonic’s robotic checkout, and can be used as information and promotion platforms, which increases overall spending. Juniper Research estimates that these technologies will drive an average increase in revenue of over $300 per shopper per annum by 2022.


Online Stores Good at Getting Physical


The research argues that a collection of new technologies, from mobile point of sale to automated inventory checking, is transforming the role of retail staff from cashier to advisor, allowing them to provide a more mobile and personal service.

“Retail technologies are all moving to make in-store retail more experience-focused,” remarked research author James Moar. “This is ideal for online-first retailers as the store functions as an advert for an existing business. Offline-first retailers need to both have more personalised experiences and maintain the same transaction volume; a far harder task.”

Read more in Juniper’s complimentary whitepaper, How In-Store Retail Technologies Will Change the Way You Shop.

Source: Juniper Research

related articles:

popular articles:

Thumbnail-Photo: Cameras, comfort and Artificial Intelligence...
09.04.2019   #security #cashpoints

Cameras, comfort and Artificial Intelligence

Video: What self-checkout systems can already offer today

Self-checkout systems are enjoying ever greater acceptance and are regarded as an important future topic for retailers and customers. ...

Thumbnail-Photo: Why digital signage pays off big!
03.06.2019   #digital signage #customer relationship management

Why digital signage pays off big!

The right content can increase sales and customer loyalty

The strategic use of digital signage can unquestionably lead to increased sales, a boosted impact of the sales floor, a new shopping experience, and a stronger brand image. However, emphasis is too often placed merely on technical innovations that ...

Thumbnail-Photo: 45th anniversary of the barcode in retail
01.07.2019   #barcode scanner #qr code

45th anniversary of the barcode in retail

GS1 US celebrates the barcode’s relevance as the backbone of commerce

GS1 US®, the information standards organization best known as the administrator of UPC barcodes, this week celebrates 45 years since the debut and first scan of the iconic barcode. On June 26, 1974, a pack of Wrigley's chewing gum carrying a ...

Thumbnail-Photo: Digital Signage Summit (DSS) Europe
07.05.2019   #digital signage #digitization

Digital Signage Summit (DSS) Europe

iXtenso readers receive a 30% ticket-discount!

The two-day event comprises a comprehensive mix of twin-track conference programme; hands-on workshops; exclusive presentations; numerous networking opportunities and a vendor and service supplier exhibition area.In 2019, DSS Europe returns to the ...

Thumbnail-Photo: Changing markets: embracing disruption to harvest opportunity...
18.06.2019   #digitization #event

Changing markets: embracing disruption to harvest opportunity

Reporting from the first annual Retail & Brand Experience World Congress in Barcelona

More than 200 industry insiders highlighted the many challenges facing the retail sector today in interesting talks and lectures.Topics included the customer experience, the use of technologies, digital media, omnichannel strategies, personalization ...

Thumbnail-Photo: APG Cash Drawer: new SMARTtill business development manager...
15.05.2019   #cash management #cash handling systeme

APG Cash Drawer: new SMARTtill business development manager

APG Cash Drawer announces hire of SMARTtill business development manager

APG Cash Drawer, a fast-growing global manufacturer of cash management solutions, announced today the addition of Tony Pusateri as SMARTtill Business Development Manager. ...

Thumbnail-Photo: Introducing a new, powerful mobile POS in Posiflex’s MT series...
25.06.2019   #epos systems #cashpoints

Introducing a new, powerful mobile POS in Posiflex’s MT series

MT-5310W from Posiflex combines the mobility of a tablet with the functionality of a fixed POS terminal. .

Today’s customers have higher expectations than ever when it comes to service. To meet and exceed customers’ ever-growing expectations, Posiflex is pleased to present MT-5310W, the latest addition to the popular MT series: a hybrid ...

Thumbnail-Photo: Denmarks largest garden center chain is chasing a green profile...
26.06.2019   #sustainability #electronic shelf labels (ESL)

Denmark's largest garden center chain is chasing a green profile

Electronic shelf labels for paper reduction

Plantorama introduces electronic shelf labels in all stores, which significantly reduces the chain's paper consumption. The project will strengthen the chain's green profile and will have a positive influence on the customer experience and ...

Thumbnail-Photo: 5 tips for retailers to protect their online customers...
12.07.2019   #security management #sales promotion

5 tips for retailers to protect their online customers

Amazon Prime Days inspire cybercriminals to shop for victims

Amazon Prime Days is a summer rerun of Black Friday, Cyber Monday, and Christmas shopping – significant price reductions together with a concurrent increase of threat actor activity in the deep and dark web. Looking back, the December 2018 ...

Thumbnail-Photo: Frictionless checkout across all channels to build loyalty...
04.07.2019   #mobile payment #customer satisfaction

Frictionless checkout across all channels to build loyalty

H&M and Klarna elevate the shopping experience for US consumers

H&M and Klarna announced that they have expanded their current partnership agreement to also include the US market, in the development of an unrivalled payments and shopping experience across touchpoints. Together, H&M and Klarna are aiming ...

Supplier

ROQQIO Commerce Solutions GmbH
ROQQIO Commerce Solutions GmbH
Harburger Schloßstraße 28
21079 Hamburg
LANCOM Systems GmbH
LANCOM Systems GmbH
Adenauerstraße 20 / B2
52146 Würselen
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven