Retail automation is the use of technology to automate the tasks involved in running a retail store. This includes tasks such as inventory management, point-of-sale (POS) operations, customer management, and store operations. Retail automation can help improve the efficiency of store operations and reduce the need for manual labor. It can also help improve customer service by providing employees with more time to engage with customers.
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Key Trends
Some key trends in retail automation technology include the following:
1. Automated checkout: Checkout processes are often automated in retail settings, using machines that scan and process items for purchase. This can help to speed up the checkout process and reduce queues.
2. Self-service: Self-service kiosks and machines are becoming increasingly common in retail settings. These allow customers to serve themselves, without the need for assistance from staff. This can help to reduce costs and improve efficiency.
3. Stock management: Automated systems can help to keep track of stock levels and reorder items when necessary. This can help to ensure that shelves are always well-stocked and that customers can find the products they need.
Key Drivers
The key drivers of the retail automation market are the need for efficient inventory management, the need for reducing operational costs, and the need for enhancing customer experience.
Inventory management is a key driver for retail automation as it helps in reducing inventory carrying costs. It also helps in reducing the chances of stock-outs and improving the overall stock turnover.
Operational costs are another key driver for retail automation. Automation can help in reducing the labor costs associated with various tasks such as product picking, packing, and shipping.
Customer experience is another key driver for retail automation. Automation can help in enhancing the customer experience by providing faster and more accurate service.
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Market Segments
The retail automation market is segmented by type, component, end-user, and region. By type, the market is classified into point of sale, barcode, RFID, and others. Based on component, it is bifurcated into hardware, and software. On the basis of the end-use, it is divided into hypermarkets, supermarkets, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players
The global retail automation market includes players such as Datalogic S.p.A, First Data Corporation, NCR Corporation, Fujitsu Limited, Toshiba Global Commerce Solutions Inc., Honeywell Scanning and Mobility, Kuka AG, Wincor Nixdorf AG, Zebra Technologies Corporation, Pricer AB, and others.
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