Cash may be king, but with more payment options than ever, some customers are opting for more modern ways to check out at the grocery store. Here’s a rundown of the current payment trends.
Low-contact checkout options have risen in popularity since the onset of the pandemic, and it’s no surprise that self-checkout is still a top choice among consumers. ChaseDesign, a growth design firm, recently released a study that showed 57% of shoppers use self-checkout “all the time.” As the saying goes, if it ain’t broke, don’t fix it!
Frictionless payment has failed to gain significant traction since Amazon announced its plan to implement the technology in 2016. The retailer struggled to utilize the payment option in anything larger than a convenience store, though it has been including Just Walk Out technology in every new Amazon Fresh grocery store in recent months.
Years later, the checkout option could be picking up steam with new companies throwing their hats in the ring. Last month, Israeli startup Trigo announced its plans to bring frictionless payment to full-sized grocery stores using its latest round of funding, investing up to $100 million. Just last year, Grabango, another frictionless payment company launched in 2016, revealed its product was being tested in full-sized grocery stores after years of servicing convenience stores.
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Back in September, Instacart announced its acquisition of an AI platform. The tool was launched to allow retailers and brands to test product pricing and promotion in real-time. It will now be available to retailers on Instacart through their data dashboard, and is expected to save them the time and effort of manually comparing prices. The ability to test price points instantly aims to engage retailers in a more shopper-centric process.
Since the beginning of the pandemic, many retailers have implemented scan-and-go tech on their store apps to reduce contact between shoppers and employees. Rochester-based chain Wegmans was one user of the tech until recently. The chain has announced they’ll be scrapping the option from stores.
Though Wegman’s is exploring other options, grocery chain Hy-Vee announced that they plan on expanding the use of scan-and-go tech to more locations.
It just goes to show that every audience is different! Finding tech that fits your specific needs is just one of the reasons to consult with an STCR representative today.