Create configurable solutions that address in-demand use cases and position your business for greater market share.
Self-service is trending in consumer-facing industries. One unmistakable sign is market growth. It grew to $32.23 billion in 2020 and is projected to reach $88.33 billion globally by 2030. Another indicator is consumer adoption. According to an IBM survey, 71 percent of consumers say they use or would like to use self-checkout. In addition, 37 percent want a greater variety of self-service options, and almost a third want a faster checkout.
Many clients are ready to invest, and many consumers are looking for the convenience of self-service. This trend can create opportunities for your technology solutions provider business if you develop an offering that helps companies overcome pain points or supports merchants’ plans for engaging customers in new ways. Consider these trends and whether your expertise can help you meet demand.
Where the Opportunities Are for Retail Self Service
- Optimizing Click and Collect
Click and collect has become a favourite option for consumer engagement. Consumers often choose to shop online because they can quickly find the merchandise they want, place orders, and arrange to pick it up at their convenience. However, a long wait or confusion in the store can diminish the experience. By giving consumers self-service options, merchants can provide the same convenience and autonomy they have when they order online. They can check in with a kiosk to call an associate when they arrive at the store. Additionally, smart lockers can allow customers to retrieve their orders independently.
- In-Store Returns of Online Orders
Nearly eight of ten consumers prefer making online returns in a store instead of mailing items back. However, managing returns processes and optimising experiences is critical for retailers with e-commerce channels. Returns kiosks empower customers to make quick drop-offs, get a digital receipt, or even request an exchange and immediate help from an associate. A self-service solution gives consumers an option they’re happy with, and it helps retailers increase foot traffic, which could result in additional revenue.
- Wayfinding
The market for digital wayfinding is booming. With sales of $234.62 million in 2021 and expected to grow to $664.95 million in 2028, this sector is expanding at a 16 percent CAGR. Retailers, among other businesses, are turning to wayfinding technology to control and update messaging more easily, achieve greater efficiency, and improve consumer experiences.
Instead of trying to flag down a busy staffer, customers can quickly get the assistance they need. With these easy-to-use self-service devices, consumers can explore the store, mall, or other facility and get quick access to directions from wherever they are. More information may even be available via interactive touchscreens that help users learn more, browse promotional offers and find other details about the business.
- Endless Aisle
Many forward-thinking retailers are deploying endless aisle solutions to expand the online experience into the store. With these solutions, shoppers are not limited to what is available in the store. Retailers can offer customers their entire catalogue, and out-of-stock purchases can be scheduled for at-home delivery or in-store pick-up. Endless aisle solutions can save the sale. According to a report from the research firm Netstock, 65 percent of customers switched to a new brand because what they wanted was out of stock.
- Self-checkout
Self-checkout solutions give retailers a way to optimise labour. One associate can oversee several self-checkouts, enabling retailers to reassign cashiers to other duties in the store. The self-service model is beneficial to retailers struggling to fill positions during staff shortages. Self-service may also enhance customer experiences – many consumers prefer it to interacting with store associates.
Listen to Your Clients’ Plans for Retail Self-Service Solutions
Self-service solutions may look like they stand alone – and some can operate that way. However, the most valuable self-service solutions will be integrated with the retailer’s IT environment for easy management, payments, and reporting.
Also, remember that each solution will require some degree of customisation, whether bespoke software or even branding on kiosk hardware. So, work with your clients to understand their unique needs, and partner, if necessary, to provide them with precisely the features they require for click and collect, returns, wayfinding, endless aisle, and self-checkout.
Staying informed of current trends, helping your clients create in-demand customer experiences, and seamlessly integrating self-service solutions with your clients’ management systems will allow you to establish yourself as a leader in this space.