Retailers add value and convenience with upscale bulk kiosks
Implications - Upscale self-serve kiosks are being integrated into existing retail concepts as an extension of the Everyday Low Pricing strategy (EDLP). By elevating the experience of self-service, retailers increase the perception of value of the product without raising costs.
This progression demonstrates the role of a heightened in-store experience in enhancing the value of a brand's product offering, even when it's available in-bulk.
This progression demonstrates the role of a heightened in-store experience in enhancing the value of a brand's product offering, even when it's available in-bulk.
Workshop Question - What is one part of the purchasing experience you can make fully autonomous for your customer?
Trend Themes
1. Upscale Self-serve Kiosks - Retailers are integrating upscale self-serve kiosks into existing retail concepts as an extension of the Everyday Low Pricing strategy (EDLP), enhancing the store experience and increasing the perception of value of the product without raising cost.
2. In-store Experiential Retail - Retailers practicing the everyday low pricing strategy to provide an enhanced store experience that overshadows the objective value of the product, such as wine bars and beer stations.
3. Mobile Self-payment Systems - Retailers are incorporating mobile self-payment systems, such as RFID-enabled tags, to allow an effortless shopping experience while prioritizing loss prevention.
Industry Implications
1. Grocery Stores - Grocery stores are leveraging Upscale Self-Serve Kiosks to elevate their retail strategy while continuing to offer consumers Everyday Low Pricing options.
2. Fashion Retail - Fashion retailers like Rebecca Minkoff are incorporating Mobile Self-Payment Systems to give shoppers complete control of their shopping experience, while prioritizing loss prevention.
3. Coffee Shops - Coffee shops like Minedrip Coffee are offering an in-store experiential retail environment, highlighting niche products and enhancing the overall experience for consumers.
