The Growth of the Retail Kiosk Industry

Posted by Lydia Pine on Jun 17, 2019 3:39:24 PM

Technology has aided in creating many great businesses. For many business owner’s technology has the potential to completely change how they do business. As Bill Gates once said, the advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.”  Advances in kiosk technology are no exception.

For many retailer’s kiosks add a whole new dimension to their customer shopping experience, giving customers more options than ever before. During 2018 there was a significant growth of kiosk interaction. According to IBIS World, Over the past five years, the Mall Carts & Kiosks industry has grown by 2.7% to reach revenue of $12bn in 2018.” Now more than ever before customers are embracing the rise of the small one-stop shops. With more retailers interested in the kiosk and more consumers enjoying the shopping experience, that growth is likely to continue.

The growth of the kiosks industry has the potential to grow retail profits and make more products accessible to more customers in more places.

Adding a kiosk to your business plan generates another option for your customers. The ability to buy a product without the hassle of going into a brick and mortar store has a strong appeal. Convenience is a great selling point; the convenience of a kiosk can help boost sales to people who may have not had the time to shop in a big box store.

Modern technology helps kiosk owners keep overhead low. By utilizing software with accounting features kiosk owners can manage, analyze and understand every aspect of their income and expenses, forgoing costly future mistakes.

Another advancement in kiosks is the availability of POS Systems. With the advancements in payment process machines, kiosk owners can wrap sales and customer service in one transaction.

A kiosk that has been paired with a modern POS system is made to succeed. Using POS features such as customer relations management, kiosk owners are better able to track their customers’ habits and re-market to past purchases. Modern POS systems allow kiosk owners to better tailor their transactions to the benefit of the customer experience. Providing happier customers bringing in higher revenue for kiosk owners. In an age where instant gratification comes in many available forms, kiosk carts are primed to sell.

The numbers don’t lie, with low overhead and cheap short time lease commitments. Kiosk carts are a more attractive alternative to box stores for retailers who want to start a new business expand their current business or test out the merchandise. With the ability to set up shop anywhere and relocate if necessary, more and more business owners are exploring this alternative to selling their items.

 

Topics: Retail Tips Uncategorized