There is self-checkout and then there is self-checkout. Many groceries, pharmacies, and big box stores enable shoppers to go to a checkout area to scan and bag their own items, similar to a regular checkout lane cashier. But this type of self-checkout is really more of a self-service feature compared to the more advanced autonomous checkout systems such as Amazon Go.
Entering 2020, we will see more developers rolling out true autonomous checkout systems for retailers that will put a stop to shoplifting. Vendors to watch include: AiFi, Grabango, Standard Cognition, and Zippin. Others will surely follow.
A Money article, excerpted below, discusses more on the topic:
With self-checkout machines suddenly everywhere you may be wondering…with no one to watch shoppers, don’t they just steal stuff? The answer, in short, is yes. While technology can improve a lot of things, it can’t change human nature.
But, say retail industry experts, for many stores, the machines are worth the hassle. Indeed, shops ranging from superstores like Target and Walmart to convenience chain CVS to local mom-and-pop groceries have all been adding machines. One recent study suggested globally, self-checkout could continue to grow 10% a year for the next five years.
Shoplifting, or “shrinkage,” as the retail industry calls it, has long bedeviled store owners. Checkout machines are only making it worse. Theft accounts for nearly 4% of inventory for retailers with self-checkout, compared to just 1.5% for traditional checkout, according to a report from the U.K.’s University of Leicester.
Overview by Raymond Pucci, Director, Merchant Services at Mercator Advisory Group
