Autonomous Retail: The Rise of Automated Shopping
Recently I’ve been asked by a client to do a think piece on the rise of autonomous retail. I had some very knowledgable experts recruited from markets like the U.K., U.S., Japan and China. The exchanges we had shined an interesting light on the findings I had already gathered through my own research and added to the global perspective. Here are some thoughts I extracted from all of this.
First of all, here are the main drivers of the rise of autonomous retail, and they seem to be happening everywhere and all at once:
- Greater efficiency and productivity: Retailers are always looking for ways to save time and money. With autonomous technologies, they can automate various processes, freeing up staff to focus on other areas of the business.
- Changing expectations of consumers: Today’s shoppers want a seamless, frictionless shopping experience. With autonomous technologies, retailers can provide a more streamlined and convenient experience for their customers, not to mention — have better control on the customer journey and the brand’s touchpoints.
- Reduced risk of human error: Let’s face it — humans make mistakes. Automated inventory management systems and self-checkout kiosks can help retailers reduce the risk of overstocking, understocking, and other costly errors.
But that’s not all — the timing seems right for autonomous retail, too. Here’s why:
- Staff shortages: With a shortage of available workers in many industries, retailers are looking for ways to do more with less. Autonomous technologies can help fill the gap, especially in the U.K. where there is currently a state of stagflation and where the Brexit brought on staff shortages in various markets.
- Aging population: In parts of the world, the population is getting older. Autonomous technologies can help retailers accommodate older shoppers who may have difficulty navigating a traditional store or make up for a market short in staff for this reason.
- Less interest in social contact: Let’s face it — sometimes we just don’t want to talk to anyone. With self-checkout kiosks and other autonomous technologies, shoppers can get in and out of the store without having to interact with anyone. This would suit the Gen Z’s, who are are still interested in deep and meaningful relationships but are happy to skip the small talk with strangers.
In recent years, we’ve seen some exciting examples of autonomous retail in action. Amazon’s cashierless stores, for example, use a combination of computer vision and machine learning to track shoppers as they move through the store, automatically charging them for the items they take. And Walmart has been experimenting with self-driving delivery trucks and robots that can scan shelves and take inventory. Scan & Go technologies turn every shoppers smartphone into a product scanner.
So, there you have it — the future of shopping is autonomous! With the potential to improve efficiency, enhance the customer experience, and reduce the risk of human error, autonomous technologies are quickly becoming an essential part of the modern retail landscape.
