February 7, 2020

The evolution of in-store checkout

Our VP of Sales and New Business, Daniel Helman, shares his thoughts on the evolution of in-store checkout methods

We don’t need statistics like $284 billion is lost to abandoned baskets (Adyen 2019 Retail Report) or over 74% of shoppers found the checkout process the biggest pain point in their retail experience to highlight that nobody, in the history of mankind, has ever enjoyed standing in line to do anything. Putting the romance of shopping to one side, getting paid for your products is a fundamental part of any business. In fact, with one click, digital wallets and auto-pay checkouts have become game-changers.

Despite this, it’s crazy to think that the checkout has not fundamentally changed for decades. The wonderfully-named Piggly Wiggly was the first store to offer self-service in the US, enabling shoppers to pick up their goods before going to the cashier who would total up the basket and take payment. That was over 100 years ago, and yes the above image is in black and white!

It wasn’t until the 1980s that self-scan kiosks were launched. These are now prominent in most countries, giving shoppers another option when stores are busy or when we feel like being independent. However, they too, often involve queuing and research suggests they don’t score highly for customer satisfaction.

Fast forward four decades, it doesn’t seem we have made much progress. Grocery retailers now offer handheld devices and other sectors are starting to trial mobile POS where sales staff can use a device to check-out shoppers anywhere in-store (like they do with Apple). Whilst both seem logical and have their benefits, fundamentally they are still creating friction, restricted by hardware and distracting staff from adding maximum value to their shoppers.

Had it not been for tech giants would retailers have not been forced to act? Many of us no longer price check when we buy on Amazon nor do we look for a taxi when arriving at an airport or train station. Convenience is king and those companies that offer us the easiest way to consume now win our loyalty.

Today, MishiPay can offer that convenience coupled with a personalised experience by empowering shoppers to use their phone to Scan, Pay and Go. 69% of us buy on mobile when shopping online, so why not do it in-store?

The following chart illustrates the many ways in which the benefits of mobile self-checkout surpass other in-store checkout methods.

Mobile self-checkout transforms the store experience. Imagine the independence to walk in and walk out of stores without ever having to queue, or have extra staff available should we need a helping hand. Imagine all that information when shopping online immediately available to you when you’re browsing and making your choices. Imagine a personalised journey where offers, promotions and recommendations are yours and nobody else’s. It’s bringing the best of the online into the store, coupled with the ultimate convenience and personalisation that has proven to deliver increased sales and data whilst reducing operating costs.

We can look at all the checkout options available from people, kiosk to cameras but the only one that offers unlimited checkout in-store, personalisation and ability to scale affordably is mobile self-checkout.

This is today’s reality and it’s within reach. The shopper is ready and armed and if retailers don’t oblige they won’t tell you, nor will they wait a decade. They simply won’t buy from you. 

 

 

 

 

 

By Daniel Helman – VP Sales and New Business.

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