The U.S. Self-Checkout Systems Market size is anticipated to reach USD 2.97 billion by 2028, expanding at a CAGR of 11.3% from 2021 to 2028. The strong emphasis retailers are putting on providing self-checkout solutions as part of the efforts to improve purchase efficiency, enhance the consumer experience, and serve a larger customer base is expected to drive the growth of the market over the forecast period. The blend of cash and cashless features offered by the latest self-checkout solutions, which can potentially allow retailers to tailor their checkout experience to the changing consumer preferences, also bodes well for the growth of the market.
Self-checkout solutions, also known as self-service
kiosks, are automated systems deployed in offline stores to help in-store
buyers in shopping, ordering, and transacting without any intervention from the
employees or staff of the stores. The popularity of self-checkout solutions is
growing as the retail industry is evolving continuously and adapting to the
changing shopping habits of consumers. The growing preference of consumers for
cashless transactions is prompting store owners to install cashless checkout
stores to allow customers to shop, order, and transact at their convenience
without having to wait in a queue. For instance, in January 2020, Weis Markets,
Inc., a grocery chain based in the U.S., deployed Toshiba Global Commerce
Solutions’ latest self-checkout solution across the majority of its 198
locations.
The outbreak of the COVID-19 pandemic took its toll on
the U.S. market for self-checkout systems in 2020 as the demand for
self-checkout systems plummeted while the adoption of contactless solutions
gained traction in the wake of the social distancing norms. Although several
stores and outlets implemented self-checkout systems to ensure a safe and
convenient interface for customers to order and buy food and groceries, the
demand for self-checkout systems plummeted as a result of the temporary closure
of retail stores, restaurants, hotels, and transportation facilities in line
with the restrictions imposed by the government as part of the efforts to
arrest the spread of coronavirus. Nevertheless, the market has been gaining
traction since the beginning of 2021 and is expected to witness significant
growth over the forecast period as the restrictions are relaxed and the
situation normalizes gradually.
Related Press Release@ U.S. Self-checkout Systems Market Report
U.S. Self-checkout Systems Market
Report Highlights
- The systems segment dominated the market in 2020 owing to the
growing preference among the operators of supermarkets, hypermarkets, and convenience
stores to install cashless self-checkout systems to attract more customers
and facilitate quick checkout
- The cashless-based self-checkout systems segment is expected to
expand at a CAGR of more than 11% over the forecast period in line with
the growing preference among customers for digital payment options and
card-based transactions
- The supermarkets and hypermarkets segment dominated the U.S. market
in 2020 as supermarkets and grocery stores continued to invest
aggressively and installed self-checkout systems as part of their
respective in-store transformation projects
- Key vendors operating in the market are focused on strengthening
their customer pool, using several product launches and new product
developments
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