The current mobile payments market centers around several cores: direct carrier billing, mobile wallets, online and offline sales, mobile credit card readers and application stores. During meetings with various mobile payments experts and executives at CTIA last week, the most uttered phrase was: "This is not something I would use to buy a fridge." Where are mobile payments going?
I've made suggestions multiple times to whoever would listen that they should take another look at their Website and integrate social sharing (beyond content and more toward commerce). For example if you are even considering buying a product, you should be able to tell your friends about it. If you booked a vacation or a hotel room with a view—same thing. If you recommend a product or service you should be able to broadcast that across your entire social network (and not just one) directly from the site.
The willingness to shop doesn’t seem to be slowed down by worries about fraud, which are still significant. Almost three-fourths of respondents (72 percent) said they were “very concerned” or “concerned” about being a victim of online fraud, and 84 percent said they felt it was important for online payment services to protect them from fraud. The survey was conducted in August and polled 722 active Internet users.
The Neighborhood Market store is only 27,000 square feet, much smaller compared to the average Walmart size. The focus will be on groceries rather than goods. In a regular Walmart, groceries only account for a third of products sold. In a Walmart Neighborhood Market, groceries will take up three-quarters of the space.
Neighborhood Markets were first introduced in 1998 and now have 155 stores nationwide. Walmart plans to roll out 300 more by 2013. Recently, Walmart opened a Neighborhood Market in Chicago and it has gained positive feedback from the community. The appearance of the store is much friendlier with a warm coat of paint (as opposed to the bold blue) and the inside of the store is more open spaced.
In the lobby of a luxury hotel stands a machine that dispenses gold bars and coins. In bathrooms at upscale bars, vending machines with hair products enable women to get a mini beauty treatment before heading back on to the dance floor. And at the Los Angeles Airport, people can soon download movies to a portable flash drive that will play on their computer.
But don't call them vending machines... these automated retailing centers feature stylish architecture and graphics, and have interactive touch screens that entice, entertain, and inform.
What drives this quest for automation? The answer is simple, according to Shannon Illingworth, the founder of AVT - one of the nation's leading developers of automated retailing systems. "For consumers it's about convenience and a fun shopping experience. For retailers it's about lowering costs, expanding product lines, increasing distribution, and reducing shrinkage."
AVT, which makes some of the newest high tech self-service retailing kiosks, recently completed an order for a beautiful aluminum and glass tower that dispenses electronics such as cell phones, iPods, and portable satellite navigation systems. Illingworth stated that the system is a huge hit - especially with the younger generation.
The economics make it easy to see why. Mall stores produce about $330 a square foot a year, while a 28-square-foot kiosk can generate $3,000 to $10,000 a square foot a year, according to some reports.
Does this mark the end of the retail store? Hardly, states Illingworth. Just as DVDs didn't end movie theaters, automated retailing won't replace brick and mortar stores. "We complement the store by offering an interesting variety of products to a captivated audience in locations that are not normally served," he stated. "We're the icing on the retailer's cake."
For more information about automated retailing, please visit www.autoretail.com
- ► 2013 (65)
- ► 2012 (47)
- How Mobile Payments Will Evolve In the Next Severa...
- Social Sharing : Please Steal This Idea
- New Labels On Packaging Include Instructions For R...
- 1/3 of consumers will spend more online than in-st...
- Indian fashion site lets US shoppers borrow or buy...
- How to make electricals retailing interesting
- Macy’s Partners With Start Up To Find Your Perfect...
- The Supermarket Of The Future Can Grow Its Own Foo...
- Trendspotting: Retail embracing social media to bo...
- Walmart Downsizes To Become A Friendly Neighborhoo...
- Automated Retailing is the New Low Cost Way to Rea...
- ▼ October (11)
- ► 2010 (352)
- bharti (2)
- Big Bazaar (5)
- Future Group (5)
- HyperCity (1)
- india (2)
- International (2)
- ITC (2)
- Jobs (2)
- Lifestyle (1)
- Private Labels (4)
- Procter and Gamble (1)
- Raymond (1)
- Reliance Retail (11)
- Shoppers Stop (3)
- Social Media (4)
- Spencers (3)
- Starbucks (2)
- Technology (2)
- Tesco (2)
- US (1)
- USA (1)
- walmart (4)
- Westside (1)