The self-checkout systems market in Asia Pacific is expected to witness a substantial growth due to the increasing number of infrastructure development projects and the rising demand for automated solutions in the region. The North American self-checkout systems market dominated the global industry in 2016 and this trend is expected to continue over the forecast period owing to the presence of key market players in the region and the early adoption of new technologies particularly in the U.S.
With retail outlets massively demanding a hassle-free checkout process, self-checkout systems market has been gaining commendable traction lately. The rising generation of millennials has added further momentum to self-checkout systems industry, given that today’s youth-oriented, tech savvy generation demands perfection with just a mere push of the button. The trend of increasing automation has thus proved to be financially advantageous to numerous businesses. Just recently, a MacDonald’s experiment established that while using a self-service kiosk, customers tended to supersize their orders resulting in 30% more orders – primarily because consumers felt that no one is judging their choices.
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One of the pivotal reasons self-checkout systems market has found popularity in the retail sector is on account of the fact that this business space is one of the most evolutionary means of changing the consumer’s perception of shopping. In this regard, companies have been brainstorming different technologies to augment self-checkout system industry.
Mobile apps are the latest innovation the retail sector is replete with lately, that customers can use to both scan and pay for their purchases. In this present fast-paced era, consumers prefer to experience freedom of choice while making purchases and remain in control of their transactions, thus augmenting self-checkout systems market. Sometimes though, the older generation may find self-checkout systems hard to deal with. In this regard, retail stores offer a variety of options for check out, including both staffed and self-checkout systems, providing a wider scope of development for self-checkout system industry.
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Self-checkout systems are known to reduce a significant amount of overhead costs for companies as their deployment reduces labor expenses. For instance, the Information Technology and Innovation Foundation established that a staffed desk at an airport costs the company $3 to check in passengers. But when passengers use electronic terminals, the cost drops to 14 cents. On the whole, the airline industry can apparently save up to $1.6 billion in year with an automated check-in system. It is no surprise therefore, that the lure for cost reduction has been propelling self-checkout systems market.
The adoption of high-grade technology is a major factor that contributes to the success of self-checkout systems industry. In this regard, self-checkout systems market stands to gain massive benefits from North America and Europe, as the general population here is technologically adept to embrace a system that can simplify their checkout process. In 2016, the National Cash Register of US recorded a deployment of 10000 self service checkout lanes in around 1200 Walmart outlets. Even in UAE and South Africa, tourism and retail have contributed toward stimulating self-checkout systems market.
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One of the major obstacles for the expansion of the self-checkout systems market has been the increased likelihood of theft or cheating. In this regard, self-checkout systems are being equipped with various technological upgrades like a camera and scales to detect such instances when a customer might be entering the code for onions but might actually be buying avocados.
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