Powered by scan-and-go technology, 7-Eleven launched a completely cashless and cardless concept store in Australia that lets shoppers complete transactions by using their smartphone. Naturally, the shopping experience relies on the use of an app and thanks to the fact that it is cashless, the design of the store has no physical counter for checking out goods—freeing up more valuable in-store space for additional products.
To begin shopping, customers create an in-app user profile with a selfie that's linked to a credit card. With this information in place, consumers are able to scan their own items and experience a shopping experience that could have them in and out of the store in a matter of minutes.
Cashless Convenience Stores
7-Eleven's Scan and Go Lets Customers Pay for Purchases by Smartphone
Trend Themes
1. Scan-and-go Technology - The rise of scan-and-go technology allows for a cashless and cardless shopping experience, eliminating the need for physical counters and freeing up more space for additional products.
2. Mobile Payment Solutions - The integration of mobile payment solutions like smartphone apps enables customers to complete transactions quickly and conveniently, potentially revolutionizing the retail industry.
3. Digital User Profiles - The use of digital user profiles with facial recognition technology provides a personalized and efficient shopping experience, allowing customers to scan their own items and streamline the checkout process.
Industry Implications
1. Retail - The cashless convenience store concept could disrupt the retail industry by offering a seamless, self-checkout experience that reduces wait times and improves customer satisfaction.
2. Technology - Scan-and-go technology and mobile payment solutions have the potential to disrupt the technology industry by revolutionizing the way customers make purchases and interact with retail stores.
3. Fintech - The integration of mobile payment solutions and digital user profiles in cashless convenience stores presents disruptive innovation opportunities within the financial technology industry, changing the way transactions are conducted and increasing security measures.