Sunday, May 11, 2014

The future of retail checkout: no checkout at all?

“People have said when checkout is working really well, it will feel like stealing. You grab a pair of shoes and you just walk out.” That’s how Michael Chui, a partner at the McKinsey Global Institute, describes the retail-checkout experience in your not-too-distant future.

This coming transformation in the way you pay for items in bricks-and-mortar stores will occur through a network of sensors placed strategically around stores, which will enable retailers to recognize you (through your smartphone or other devices) when you walk through the door. Inexpensive sensors also will be attached to (or embedded in) items available for purchase. And the stores will already have your preferred payment information on file, so when you exit the store with your chosen merchandise, you’ll simply be billed automatically, totally skipping any traditional checkout experience.

Many restaurants are already in the vanguard of transforming the checkout experience. As Alexis Madrigal explained two years ago here, a growing number of restaurants are using iPads or other tablets to have diners place their own orders and then check themselves out at the end of the meal. If such a change becomes widespread, as Madrigal pointed out, the implications for waitstaff employment will be profound. Full story...

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