Self-Service Transactions
Self-Checkout Transactions to Surpass $330 Billion Annually in North America by 2007, Says IHL
FRANKLIN, Tenn. (June 2, 2004) - Self-checkout systems will generate transactions worth $70 billion in 2004, according to a new study from IHL Consulting Group. The �2004 North American Self-Checkout Systems Market Study� also forecasts that the value of these transactions will increase to over $330 billion by 2007 as many more systems are deployed in the next few years.
�We live in an age where self-sufficiency often reigns supreme and time is at a premium,� said Greg Buzek, president of IHL Consulting Group, an analyst firm and consultancy that serves retailers and retail technology vendors. �New self-service technologies are emerging that will revolutionize the way we shop for goods and services. From grocery stores/supercenters to home improvement stores to department stores, self-service technologies are speeding the checkout process for customers.�
Some key insights from the report include:
* In stores currently using self-checkout systems, as much as 40% of the total number of transactions now go through the self-checkout, allowing retailers to provide more customer assistance within the aisles to help customer find products.
* More and more retail segments are adopting self-checkout. The Home Depot now has more than 3,200 lanes installed.
Executive Technology
Posted by Craig at June 2, 2004 05:35 PM