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Education

Cashing in on At the turn of the 21st century the self-service model was
advanced again by supermarkets offering self-checkout,
self service with strong consumer acceptance. A study conducted by
NCR Corp. in 2014 found 90 percent of consumers used
self-checkouts at least some of the time. Most (50 percent
of U.S. consumers) said they preferred the convenience of
self-checkout.

For many consumers self-checkout today is an expectation.
But this is not the end game. Evolving technologies now
allow for the self-service model to be applied to the entire
shopping experience, from selecting items through the
payment process.

Consumers expect frictionless shopping experiences,
whether they are shopping online or in person. Extending
the self-service model to include product selection and
payment, as interactive kiosks do, is the next logical step
along the self-service continuum.

Interactive kiosk technology has been around for several
years, with implementation pioneered in large part by
quick service restaurants. The devices resemble vending
By Max Miller machines, but can be programmed to offer more products,
Paybotic customer convenience and shop-owner efficiencies than
traditional vending machines. These "intelligent vending
erchant services is no longer just a payment machines" provide internet connectivity, support for
play. As anyone who has spent time in a range of digital payment options and sophisticated
merchant services can attest, the race to the artificial intelligence tools. They typically feature
M bottom vis-à-vis the pricing of payment pro- sophisticated touchscreens with rich graphics that help
cessing has left little leeway to lure merchants with better customers select and pay for products with little to no staff
pricing. Instead, technology has emerged as a key differ- interaction.
entiator. Not just any technology. Merchants need tech-
nologies that deliver faster, better customer experiences,
are reliable and save them money. Interactive kiosks are Empowering and
one such technology.

Technology has long played an important role in connecting today’s
merchant services. The introduction of electronic draft payments professionals
capture, back in the late 20th century, for example,
made card acceptance a more streamlined and efficient
payment option by speeding up customer throughput.
The technological underpinnings of payment acceptance
have changed dramatically since then, and customer self-
service is poised to become the next iteration of the push
for frictionless shopping experiences.
From novel to ubiquitous Multiple ways to help merchants
November 11, 2019 • Issue 19:11:01
through natural disasters
Consumer demand for self-service options dates back to causing an estimated $306 billion in damages, according
the early 20th century, when a supermarket called Piggly brought the total to more than $500 billion.
and Southwest, and wildfires in the West among them –
to the National Oceanic and Atmospheric Administration.
Three hurricanes alone – Harvey, Irma and Maria – cost
local economies on the U.S. mainland $265 billion, NOAA
Wiggly pioneered the concept of providing shopping By Patti Murphy Arkansas, Texas and California. The report revealed that
said. Adding damages from other mainland disasters and
those sustained in Puerto Rico and the U.S. Virgin Islands
A Federal Reserve report paints a stark picture of efforts
by small businesses to rebound following these disasters,
baskets and allowing customers to select items from the recouping lost revenues. nesses and those in the retail, leisure and hospitality sec-
which were concentrated in nine states: North Carolina,
South Carolina, Georgia, Florida, Michigan, Mississippi,
hen a disaster hits – like a hurricane, flood
or wildfire – everyone in the affected area
small businesses in these states were hardest hit: 40 percent
suffers. But some suffer more than others.
of small firms in the states studied reported losses due to
shelves without assistance from store clerks. saster can exceed $859,000. The Federal Emergency Man- more than $25,000.
W Business owners, in addition to dealing with
natural disasters. Disasters struck small enterprises across
the age and income spectrum, but Hispanic-owned busi-
the consequences for their homes and families, face the
tors were hardest hit financially, the Fed reported.
unenviable task of getting their shops back on line and
Among affected businesses, 45 percent suffered asset losses
This can be daunting. A 2018 survey by Visa revealed the
up to $25,000, and 19 percent lost more than $25,000, accord-
cost of rebuilding a small business following a natural di-
ing to the Fed. But foregone revenues, not assets, were the
cent had revenue losses of up to $25,000 and 35 percent lost
largest source of losses for small business. Sixty-one per-
agement Administration estimates that 40 percent of small
losses are too substantial to overcome.
businesses never reopen after a disaster, and 25 percent of
those that do reopen fail within a year, because revenue
That idea took off quickly with supermarkets and soon – hurricanes in the East, massive flooding in the Midwest TOC on page 3
In 2017 the United States experienced 16 natural disasters
Contributed articles inside by:
Brandes Elitch ........................................................................................20
spread to other verticals, like retail stores, banks and https://www.facebook.com/TheGreenSheetInc
Dee and Emily Karawadra .................................................................32
Adam Atlas ..............................................................................................36
Jeff Fortney .............................................................................................38
gas stations. Eventually, self-service venues became a https://www.linkedin.com/company/the-green-sheet
Continued on page 30
ubiquitous part of the shopping experience, benefiting
businesses and consumers alike. https://twitter.com/The_Green_Sheet
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