Scan & Go: Seamless Payments, Self-checkouts Disrupt Consumer Experience

With the majority of online growth driven by pure-play e-commerce brands, most retailers still rely more on in-store purchases than online sales. Services like self-checkout and cashier-less payment systems then make a huge impact here. Couple this technology – the buzzword for today’s Millennial shopper – with loyalty programs and traditional retailers have a winning system…

- Charu Lamba, Sandeep Kumar & Zainab S Kazi

Imagine walking into a store, choosing a product, standing in a long line to pay and then getting into an argument with a cashier. Now, imagine walking into a store and getting personalised attention, choosing products that are customised to your needs and finally no queues while checking yourself out in a frictionless environment. Which one would you visit again? The answer is obvious.

There is a world of opportunity for brands to cash in on, expanding on the information they have and potentially changing the entire experience for shoppers. While e-commerce retailers are working towards seamless payment gateways complete with last minute customised offers, there is an even bigger opportunity for brick-and-mortar retailers here.

Though offline stores are still far ahead in terms of generating revenue as compared to e-commerce, online sales are growing at a much faster rate than sales in physical stores. In USA, the online sale still accounts for 11.1 percent of the total sales, whereas in India the percentage is even lower. With the majority of online growth driven by pure-play e-commerce brands, most retailers still rely more on in-store purchases than online sales. Services like self-checkout and cashier-less payment systems then make a huge impact here. Couple this technology – the buzzword for today’s Millennial shopper – with loyalty programs and traditional retailers have a winning system.

Determining Consumer Needs