Posted by Kirsten Lowis
on 7 June 2019
Accorcing to Smart Company, Australia's largest convenience retailer is introducing checkout-free, launching a "cashless and cardless" concept store in Australia.
Melbourne has been the first roll-out store which will allow customers to pair their cards with a smartphone app, use thier cameras to scan items and then simply walk out.
This concept is similar to the one trialled by Woolworths in Sydney last year and Amazon's no-checkout grocery stores in the United States.
7-Eleven chief executive Angus McKay said he's on a mission to push the envelope on convenience retailing.
"We're trying to push the notion of 'convenience' to its absolute limit," McKay said in a public statement.
"In the new concept store, customers will notice the absence of a counter. The store feels more spacious and customers avoid being funnelled to a checkout location creating a frictionless in-store experience," he said.
The question begs, is this the future of retail?
Having launched its first checkout-free concept back in 2016, Amazon trailblazed the technology and has quietly expanded its network of cashless and cardless stores throughout the United States.
Queensland University of Technology associate professor Gary Mortimer expects check-out free to become increasingly popular with Australian retailers over the next 18-24 months.
At the end of the day, what does all this mean for small business in Australia? Not much for the short term as it seems that there are high costs involved with adopting, setting up and changing in-store processes with check-out free technology.
But change is coming.
Originally published via Smart Company
Author: Kirsten Lowis
About: As the Founding Director of Zoom in Business - a subscription-based network and magazine, NQ Business Sales - a business sales firm based in North Queensland, and Bizrich - a business valuation firm, Kirsten has learnt from the trenches and brings a wealth of personal and professional experience and knowledge to our members.
With over 13 years as a franchisee, retailer and start-up business owner, Kirsten has worked closely with fellow coaches, hundreds of clients and the best facilitators in Australia who have run their own business or have experience in running a business and teams.
Kirsten’s extensive knowledge and experience as a Registered Business Valuer and Licenced Business Broker helps our readers and members improve awareness of the state of the market, understanding and confidence in buying, growing, valuing and selling their business, while connecting them with local and international news stories and experts to create a capable and dynamic business network.