The days of fumbling for cash are over: The In-Store Checkout Revolution report forecasts the expansion of autonomous checkout stores and their payments volume over the next five years
14-Day Risk Free Trial: Get full access to this and all E-Commerce industry research reports.Although there are only a handful of autonomous checkout stores today, the technology has seismic repercussions for in-store retail. These stores, which allow consumers to walk in, grab what they want, and exit without physically checking out, are setting a new standard for convenience in the in-store shopping experience.
Payments companies must take autonomous checkout and its rise seriously because it impacts not only the payment process, but also how consumers make payment decisions. With most autonomous checkout formats, consumers will enter payment information before entering a store to complete a profile, and they may default to that same option for each subsequent visit.
The companies mentioned in this report are: Amazon and Amazon Go, Standard Cognition, JD.com, PayPal, Ingenico, NCR, BingoBox, Zippin, AiFi, Trigo Vision, Shufersal, Zabka, Carrefour, Valora, PALTAC, Walmart, and Caper.The number of stores with autonomous checkout is set to rise from 350 in 2018 to 10,000 by 2024, with their payment volume positioned to jump from under $70 million to over $20 billion — and that's just the tip of the iceberg.
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