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The modern consumer has grown accustomed to making purchases with the click of a button and requires an in-store experience that mirrors the convenience they’re used to in their day-to-day lives. In fact, a recent Forbes survey found that convenience is the second leading driver of customer loyalty (next to prices of course). Making in-store purchases as convenient as possible is key to remaining competitive, driving revenue and laying the groundwork for retailers to grow their business.
One of the best ways to provide this convenience is by equipping stores with self checkout systems. With a minimal up-front cost, retailers can easily enhance their in-store experience to match the flexibility and ease that consumers require when making purchases.
Here are 3 ways that adding self checkout to a POS system can transform the in-store customer experience and map the blueprint for retailer’s long-term success.
(1) Shorter Lines and Less Cart Abandonment
Long lines have proved to be a major deterrent for those seeking a quick and easy in-store experience. Consumers have busy lives, and very few are willing to spend more than a few minutes waiting to buy a handful of items. 86% of consumers said that they avoid stores with long lines and 70% said they are unlikely to even return to a store that had long lines. For customers with small baskets, many will abandon their carts to avoid waiting in a long line, costing the business potential revenue.
Providing self checkout options alongside cashiers helps to reduce long lines, enabling customers to shop, scan and go with ease. For customers making small purchases that don’t want to wait in a long line, self checkout gives them the flexibility to skip the line and be on their way. This added convenience opens the door for retailers to enhance their customer experience, keeping customers coming back while appealing to new customers that are attracted to a quick and painless checkout experience.
(2) Allows Employees To Focus On Customers
Utilizing a self checkout system allows retailers to redeploy their labor to focus on tasks that add value to the business. Instead of having to manually work a cash register, employees are freed up to focus on other tasks on the store floor like restocking, doing inventory, and most importantly, directly helping customers. Doing so not only makes better use of a store’s labor, but also enhances the customer experience and increases customer satisfaction.
It’s been found that a “totally satisfied” customer contributes 2.6 times as much revenue as a “somewhat satisfied” customer. On top of that, 43% of customers are more likely to purchase a product if they interact with a sales associate.4 Seemingly small changes like redirecting employees from cash registers to assisting customers on the floor can have a significant impact on a retailer’s revenue, ability to retain customers, and ability to convert visitors into paying customers.
(3) It’s What Customers Want
When it comes down to it, customers simply prefer using self checkout. A Forbes report showed that an overwhelming 60% of consumers prefer self checkout over cashiers due to the ease of use and shorter wait times associated with self checkout systems.
Equipping stores with self checkout enables retailers to not only keep their current customers satisfied but attract new customers that are seeking a convenient way to pay. With customers prioritizing efficiency in their retail experiences and everyday life, stores must meet this need by providing the payment options within POS systems that align with consumer preferences.
Enabling Long Term Success
Self checkout systems are growing more prevalent year by year and have almost become commonplace in stores. As of 2020, roughly 33% of convenience stores have adopted self checkout, and that number continues to grow with 18% of retailers reporting plans to install a checkout automation system in the next year. As self checkout options grow exponentially, retailers are left with two choices: keep up with the trend or lose their competitive edge.
Self checkout doesn’t just enhance the customer experience, it attracts new customers too. 63% of consumers have reported that they’re more likely to shop at a store with self checkout than without. With the vast number of consumers preferring self checkout and even seeking out stores specifically to use it, implementing self checkout is crucial to remaining competitive and ensuring a store’s longetivity in the retail market.
CPI Provides Best-In-Class Self Checkout Solutions
Successful checkout technologies begin with exceptional payment technologies. That’s why we design the industry’s most sophisticated, seamless and secure cash handling devices. With decades of technical experience and strategic partnerships, Crane Payment Innovations is said to be the only provider with the expertise to manage transactions and keep cash secure, making us the natural starting point for checkout technology.
Whatever solution provides the most value to retailers and their customers, we can build alongside our carefully curated network of strategic alliances. No matter the application, we can create a completely flexible self checkout solution built to a retailer’s exact needs, with cash options to ensure an enhanced customer experience. To ensure that our machines stay up and running, our in-house service network of highly trained technicians are there to make sure that your investment is protected and runs smoothly.
