New Retail Trends Report on Frictionless shopping in retail


Frictionless/contextual shopping/commerce is the method of using data, technology, and devices to integrate buying opportunities as seamlessly as possible into the everyday activities of shoppers. The goal is to reduce the amount of time and inconvenience involved in the steps between the desire for a product and receiving it.

 

Market Info

Allowing customers to complete shopping missions with the least amount of interaction or barriers. Online retailing has created a consumer culture where convenience is key, and allowing customers to complete transactions with a minimum of fuss is important for online and physical channels. So 1-click, self-service tills, unmanned stores, and collection lockers are some of the ways in which retailers are using technology to create frictionless shopping.

Mature western markets have incorporated frictionless store concepts such as self-service checkouts ahead of several Asian countries. However, rapid urbanization, improving digitization, and changes in consumer behavior offer high growth prospects for retailers operating in markets such as China, India, Indonesia, Japan, Malaysia, and Thailand. Therefore, major retailers such as Alibaba, JD.com, 7-Eleven, and Lawson have started rolling out frictionless retail concepts such as automated stores in the region.

 

Key highlights -

 

Unmanned stores still have a way to go before they make an impact.
Payments through mobile apps and integrated devices gain traction.
Payments through facial recognition on rise.