Study: More than $740 billion to be transacted in self-service kiosks for 2010
Franklin, Tenn. Transactions at self-service kiosks will surpass $740 billion in 2010, but the rate of growth going forward may be tempered in favor of enabling consumer smartphones in the future, according to a new research study conducted by the IHL Group.
“Self-service continues to grow, and clearly DVD kiosks are driving huge increases in the number of units in the market. However, the rise of consumer mobile devices will have an adverse effect on many new kiosk installations within the next two years,” said Greg Buzek, president of the IHL Group, an analyst firm and consultancy that serves retailers and retail technology vendors.
According to Buzek, information kiosks soon will give way to the kiosk in the consumer’s pocket, with many consumers already doing price comparison shopping and reading reviews while at the shelf.
“In addition, what is particularly interesting looking forward is that Apple has patents in loyalty and payment technologies,” Buzek said. “It is foreseeable that transactions even in the retail environment could be scanned and transacted through the mobile device rather than a stationary self-checkout.”
In the market study, 2010 North American Self-Service Kiosks, IHL examined the increasing use of six types of self-service kiosks where payment is accepted: self-checkout systems, ticketing kiosks, check-in kiosks, food ordering, postal and other retail kiosks.
The report covers self-service kiosks in the United States and Canada, detailing the number and type of kiosks shipped historically. It also provides forecasts for each type of kiosk, both in terms of units shipped and revenue transacted. In addition, the report highlights best practices and best-in-class machines for each class of kiosk.
Same story, different month
Delinquency trends within Target’s portfolio of credit card receivables continued to show improvement in June. The percentage of accounts 60 days past due sank to 4.9% in June, the lowest level so far this year and a sharp improvement from the 5.2% seen in May. The percentage of accounts 60 days past due is approaching levels not seen since the summer of 2008. Also showing improvement are the number of accounts 90 days past due. Roughly 3.6% of accounts are 90 days past, down from 3.7% in May and 4.5% at the beginning of the fiscal year.
No wonder traffic is up
Target was the top-ranked retailer during the first half of 2010 in terms promotional advertising pages, according to Kantar Media, with roughly 1.3 billion pages. That figures represents a 67% increase from the first six months of 2009 when the company also was the top-ranked retailer in terms of promotional pages. Following Target in the ranking of promotional pages were Dollar General, Walgreens, PetSmart, Family Dollar, CVS, Kroger, Petco, Publix and Ralphs.
The promotional data was part of a study in which Kantar examined free standing insert (FSI) trends during the first six months of the year and discovered a 10.1% increase.
“In addition to Target’s expanded use of cooperative FSI coupon vehicles to support their retailer promotion activity, other leading retailer are expanding their use of retail promotion events, especially with the food, drug, value and pet specialty channels,” said Mark Nesbitt, president of Kantar Media Intelligence. “One of the trends observed in response to the declining economy was consolidation of retail shopping trips within the super center format. The increase used of retail promotional events wtih cooperative FSI coupon vehicles may be an effective retail response to company the consolidation of trips.”