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: SES-imagotag becomes VusionGroup
29.01.2024   #software applications #artificial intelligence

SES-imagotag becomes VusionGroup

A new identity highlighting the broader portfolio of innovative solutions
developed by the Group to solve the major challenges of physical commerce

SES-imagotag (Euronext: SESL, FR0010282822), the global leader in digital solutions for physical commerce, today announced that it has changed its name to VusionGroup. This new name embodies the various product lines and solutions that have enhanced ...

Thumbnail-Photo: First of its kind accessible checkout unveild by Woolworths, creating...
03.01.2024   #Tech in Retail #cashpoints

First of its kind accessible checkout unveild by Woolworths, creating new employment opportunities

Breaking Barriers in Retail: Woolworths' New Checkout Design for Wheelchair Users

In what is believed to be a world first, Woolworths has unveiled an accessible checkout, designed specifically for team members living with a physical disability, including people who use wheelchairs and other mobility aids such as walkers.The first ...

Thumbnail-Photo: Out of Stock in Retail and innovative solutions to avoid them...
07.11.2023   #brick and mortar retail #customer satisfaction

Out of Stock in Retail and innovative solutions to avoid them

Due to various events, the availability of goods in retail will be increasingly restricted from 2022, with the result that customers cannot find in food retail the products they wish to buy, because those products are sold out, are temporarily ...

Thumbnail-Photo: Nedap teams with Foot Locker to extend RFID project...
05.10.2023   #omnichannel #software applications

Nedap teams with Foot Locker to extend RFID project

Foot Locker successfully matches supply and demand in newly opened stores in Eastern Europe using RFID technology

Nedap the global leader in RFID solutions, announces that multi-brand sports fashion and apparel retailer Foot Locker has successfully extended Nedap iD Cloud to its new, Eastern European stores. The objective is to offer the best possible ...

Thumbnail-Photo: Tesco to introduce new scan-free technology on self-service tills at...
03.01.2024   #brick and mortar retail #Tech in Retail

Tesco to introduce new scan-free technology on self-service tills at GetGo store

Seamless Shopping Revolution: Tesco Tests Scan-Free Technology in London

Tesco is trialling an exciting new technology innovation that means customers don’t need to scan their items ...

Thumbnail-Photo: New German vending partner for ITL
30.11.2023   #Tech in Retail #cash management

New German vending partner for ITL

Innovative Technology (ITL) have recently announced Bernd Boddart as their latest trading partner

Bernd Boddart will be supplying their cash validation and biometric age verification solutions to the German vending market. Bernd Boddart, based in Mönchengladbach, Germany, have 30 years of experience in the field of coffee machines, table ...

Thumbnail-Photo: Payment as a success factor: more than just paying...
15.01.2024   #Tech in Retail #payment systems

Payment as a success factor: more than just paying

Flashback to 1994: databases and ERP systems, first commercial websites, mobile phones with colour displays, CD-ROMs, Java as a programming language ...

Thumbnail-Photo: Trigo and Netto Announce Autonomous Supermarket with Real-Time Receipt...
24.01.2024   #Tech in Retail #artificial intelligence

Trigo and Netto Announce Autonomous Supermarket with Real-Time Receipt Capability.

‘Final step’ in frictionless shopping drives trust by enabling consumers to view their receipts BEFORE leaving the store
Full size 800m2 grocery supermarket powered by computer vision AI is Europe’s largest retrofitted frictionless store

Trigo, a leading provider of AI computer vision technology that transforms traditional brick-and-mortar retail outlets into digital smart stores, and discount supermarket chain Netto Marken-Discount (also known as Netto), have partnered to launch ...

Thumbnail-Photo: EuroCIS 2024: Go beyond today!
16.10.2023   #retail #Tech in Retail

EuroCIS 2024: Go beyond today!

27 to 29 February 2024 will see the Who’s Who of Europe’s retail technology sector meet in Düsseldorf

Go beyond today! EuroCIS at the end of February will once again show solutions and products for the retail of the future @Messe DüsseldorfIn late February, numerous companies will again exhibit solutions and products for retailers to shape and ...

Thumbnail-Photo: Ask the Bot: generative AI in retail
02.01.2024   #Tech in Retail #food retail

Ask the Bot: generative AI in retail

Revolution in retail: the era of generative AI and AI bots

They are able to analyse data, write product descriptions, answer shoppers’ questions or write codes...

Supplier

VusionGroup SA
VusionGroup SA
55 place Nelson Mandela
90000 Nanterre
Captana GmbH
Captana GmbH
Bundesstraße 16
77955 Ettenheim
Innovative Technology Ltd.
Innovative Technology Ltd.
Innovative Business Park
OL1 4EQ Oldham
Zebra Technologies Germany GmbH
Zebra Technologies Germany GmbH
Ernst-Dietrich-Platz 2
40882 Ratingen
REMIRA Group GmbH
REMIRA Group GmbH
Phoenixplatz 2
44263 Dortmund