The UK-based grocer Co-op is a network comprised of over 2,500 convenient stores and supermarkets. In light of the pandemic, the retailer will be expanding its checkout-free, pay-in-aisle technology to 30 locations throughout England, Scotland and Wales.
Now, shoppers are able to use their mobile app to scan items themselves. Upon leaving, the total amount due will be deducted from their Apple or Google Pay. Even before COVID-19, the use of cash in-stores was beginning to drop. In fact, a report from Co-op states that the use of contactless payments, like cards, make up more than 50% of the transactions. The pandemic is simply accelerating this retail evolution, requiring in-store spaces to help limit the number of face-to-face interactions.
Pay-in-Aisle Retail Technology
UK-based Grocer Co-op is Expanding Its Pay-in-Aisle Technology
Trend Themes
1. Checkout-free Technology - Co-op's expansion of its pay-in-aisle technology highlights the growing trend of checkout-free experiences, providing disruptive innovation opportunities for retailers to enhance convenience and efficiency in the shopping process.
2. Mobile App Scanning - The adoption of mobile app scanning for self-checkout purposes showcases a trend of empowering shoppers to take control of their shopping experience, offering opportunities for retailers to integrate seamless and personalized technologies.
3. Contactless Payments - The increasing prominence of contactless payments, both pre and post-pandemic, reveals a trend towards cashless transactions, creating opportunities for businesses to optimize digital payment systems and minimize physical interactions.
Industry Implications
1. Grocery Retail - The expansion of pay-in-aisle technology by Co-op indicates a potential disruptive innovation opportunity within the grocery retail industry to streamline checkout processes and enhance customer experiences.
2. Mobile App Development - The integration of mobile app scanning by Co-op signals an opportunity for the mobile app development industry to create innovative solutions that enable seamless and secure self-checkout experiences.
3. Payment Solutions - The increasing adoption of contactless payments presents a potential disruptive innovation opportunity within the payment solutions industry to develop secure and efficient digital payment technologies.