Shoppers want cashier-free checkouts
Store experience is seen as a competitive advantage over online retailers and increasingly that means providing shoppers a self check out option.
The fastest growing piece of NCR Corporation’s overall business continues to be its self-checkout business within the company’s hardware segment. Revenues increased 37 percent to $96 million during the second quarter ended June 30 after growing 124 percent to $101 million in the first quarter. Self-checkout revenues grew 140 percent to $132 million during the fourth quarter of 2016 and 86 percent to $104 million during last year’s third quarter, the first period in which NCR broke out details for the fast growing self checkout business from an otherwise lackluster hardware division that includes ATM and point-of-sales equipment.
The growth of self checkout is due to what NCR has described as an overall global store transformation trend driven by shifting consumer transaction preferences, labor availability and cost trends.
When it comes to self checkout, as goes NCR so goes the industry since the company is the market share leader, accounting for 73 percent of global shipment share in 2016, according to the research firm RBR. In the report from June 2017 titled, “Global EPOS and Self-Checkout 2017,” NCR also saw an increase in its shipments of Electronic Point of Sale (EPOS) technology in 2016 and, for the third consecutive year, remained the number one supplier of EPOS in North America.
“NCR is enabling retailers around the world to redefine the in-store shopping experience and expand their touchpoints with consumers,” according to Dirk Izzo, NCR’s Vice President and General Manager of Retail Solutions. “Our channel transformation solutions help our customers create a fluid, omni-channel consumer experience, increasing productivity and enhancing customer loyalty.”
RBR expects EPOS and SCO shipments to continue to grow annually through 2022. NCR holds the top position in SCO shipments in all major regions.
The RBR study is based on primary research with retail technology vendors throughout 53 markets across 6 regions and was complemented by secondary research.