Skip to main content

Self-Serving Kiosks Boost Consumer Spending: A Win For Retail?


Don’t let the negative headlines fool you - the retail industry is on the rise. One of the greatest contributors facilitating the global revival of retail real estate is technology. The development of tech tools and services quickly turn never-before-seen possibilities into reality.

One of today’s most revolutionary retail concepts is the self-serve kiosk. These are retail spaces which are fueled by AI, IoT, and Smart devices; and they’re pushing the boundaries of client-interactions. Let’s explore this concept and its impact on the retail industry.

Consumers Love Self-Serve Kiosks

Technology can do things that human-serviced systems cannot. Modern techs capacity to record, analyze, interact, and predict outcomes gives retailers an incredible business advantage. This self-serviced technology uses extensive data to provide intuitive services that create a personalized experience for users.

One example is CaliBurger’s 2017 AI-powered facial recognition system, which identified customers at self-serve kiosks and consulted their unique client profile to individualize their experience. Tech-powered strategies cater to the expectations of convenience, ease, and individuality that today’s consumers crave. CaliBurger isn’t stopping there - they plan to implement a facial-recognition payment method this year.

Besides the royal treatment provided by self-serve kiosks, they’re also quick to deliver. Using mobile and tech solutions, retailers and restaurants can improve their client experience by providing faster service. 

 They cater to today’s consumers’ craving for instant satisfaction, which all contemporary businesses are trying to do. These systems expand the idea of omnichannel into a perfect combination of online, mobile, and in-store availability.

The Trend’s Positive Effect on Retail

Self-serve kiosks are delivering major results for the retail industry. In 2016, self serve kiosks generating a whopping $218 million, and experts anticipate that US self-serve kiosks will increase 7.2% through 2021. This is huge, demonstrating that the self-serve concept is booming throughout the country.

On top of this, the PYMNTS Kiosk and Retail Report: Food and Beverage Edition showcase a 30% increase in consumer spending from using self serve systems. There are many causes to this boost, but the overall success comes from consumers’ love for AI implementation in business.

What’s Next for the Retail Industry?

Retail is changing fast. Brands are constantly striving to use all the available tools to provide their clients with new and exciting features. The expansion is happening every day, and there’s no telling what will come next.

One thing that’s for certain is that the blending of technology into retail will keep on expanding. Today’s shoppers love technology, data, smart devices and AI; and they’re comfortable seeing it used in stores. As a result, retailers are forced to meet commonplace expectations that demand technology to optimize the shopping process. Self-serve kiosks are moving towards becoming fully-automated stores, such as Amazon Go.

These industry-shaking developments are changing the face of contemporary retail, and CRE is needing to keep up. As retail assets require advanced technological infrastructure, landlords and developers need to revamp their listings. 

 Providing the necessary spaces that modern retailers want means tending to today’s shoppers’ wants - nearly as much as brands do.


Commercial Real Estate Property Search


Comments

Post a Comment

Popular posts from this blog

NAI Emory Hill Sells Wilmington Shopping Center

  Wilmington, DE – NAI Emory Hill ( www.naiemoryhill.com ) is pleased to announce the sale of a 8,710 square foot shopping center located at 2308 Concord Pike in Wilmington, DE to The Wittig Family at DSM Commercial. Dave Morrison and Jim O’Hara Jr., of NAI Emory Hill, represented the purchaser and Seller in this transaction. This retail center is anchored by Mattress Firm, Green Drop and China Inn. The center is strategically located at the intersection of Sharpley Road and offers a great retail location along the busy Route 202 corridor. NAI Emory Hill is a completely full-service commercial and residential real estate firm serving Delaware and the surrounding counties of Maryland, New Jersey and Pennsylvania. Founded in 1981, we have the resources to design, build, finance, lease, sell, manage and maintain commercial and residential properties throughout the Mid-Atlantic . Learn more about our services at: www.propertymanagementdelaware.com www.emoryhillhomes.com
Post a Comment
Read more

4 CRE Trends We Can Attribute to Millennials

Today’s workforce is undergoing a major shift in population. As of 2017, 56 million Millennials are either working or actively searching for work , making them the largest segment of the U.S. labor force, surpassing Gen Xers in 2016 and this will eventually lead to an impact of office space needs and what companies are looking for with new office leases.   More than one out of every three American workers is a Millennial -- more than Gen Xers and much more than Baby Boomers. And, just as every other generation that came before them, Millennials pride themselves on marching to the beat of their own drum, if you will -- wearing different clothes, listening to different music, and working differently. The very idea of where and how we work is undergoing a revolution right now, with major changes being made in physical design and decor. Here’s a closer look at 4 CRE trends we can attribute to millennials… 1. Millennials prefer non-traditional workspaces   ...
Post a Comment
Read more

5 Surprising Resident Amenity Trends to Watch in 2020

As we transition into 2020, commercial realestate professionals need to start gearing up for the emerging trends that are reshaping the industry. When it comes to the multifamily arena, these popular amenity trends are at the top of residents’ most-wanted lists. Here are the top trends based on the 2020 Apartment Resident Preference Report conducted by NMHC and Kingsley Associates. Smart-powered Voice Assistance According to the report’s data, digital voice assistants are highly coveted by the tenants of tomorrow. More than 40% of respondents say they’d be interested in living alongside a voice-powered AI home assistant, such as Amazon’s Alexa and other variations. Including this in your multifamily package can give you a competitive advantage in 2020 and also be an attractive marketing point. Consider adding in-unit voice assistants as a luxury amenity in your multifamily strategy. Pet-Friendly Amenities Pets are apart of the family, too! Multifamilyren...
Post a Comment
Read more