July 30, 2004$128 Billion in 2003 Self-Service TransactionsConsumer Demand to near $1.3 Trillion by 2007 FRANKLIN, Tenn.--(BUSINESS WIRE)--July 27, 2004--When it comes to paying for goods and services, consumers are taking matters into their own hands. North American consumers transacted nearly $128 billion in sales using self-checkout lanes, ticketing kiosks and other self-service machines in 2003, an increase of 80 percent from the previous year, reports a new research study conducted by IHL Consulting Group. What's more, the revenue generated by self-service transactions should continue this pace of growth in the coming years, said Greg Buzek, president of IHL Consulting Group, an analyst firm and consultancy that serves retailers and retail technology vendors. "We expect to see expenditures made at self-service kiosks to rise by about 73 percent this year and 88 percent in 2005," Buzek said. Demand for self-checkout systems should push the dollar value of transactions to near $1.3 trillion by 2007, Buzek said. "Consumers have become much more savvy. Their time has also become more valuable and limited, and self-checkout is one way they can speed along their buying experience," Buzek said. "Retailers and other businesses are finding that self-service kiosks can significantly increase customer loyalty, as well as customer satisfaction." In the market study, 2004 North American Self-Service Kiosks, IHL examined the increasing use of four types of self-service kiosks where payment is accepted: self-checkout systems, ticketing kiosks, check-in kiosks, and food ordering kiosks. Of the nearly $128 billion spent at these machines in 2003, about $61 billion was attributable to credit, debit and smart cards. "Kiosks are fundamentally changing the way consumers do business," Buzek said. "Among retailers, we are seeing anywhere from 15 percent to 40 percent of all purchases are made at self-checkout machines. Usage is even more impressive at airports, where some airlines estimate that up to 70 percent of passengers are avoiding the traditional check-in process and instead using self-check machines." The report covers self-service kiosks in the United States and Canada, detailing the number and type of kiosks shipped historically. It also provides forecasts for each type of kiosk, both in terms of units shipped and revenue transacted. In addition, the report highlights best practices and best-in-class machines for each class of kiosk. IHL Consulting Group is an independent business-consulting firm headquartered in Franklin, Tenn., that provides market analysis and business consulting services for retailers and information technology companies that focus on the retail industry. For more information, see www.ihlservices.com, call 615-591-2785 or send e-mail to [email protected]. For press contacts and interviews, contact Roy Miller at (972) 716-4070 x235, or via e-mail at [email protected]. Posted by Craig at July 30, 2004 12:00 AM |