The retail industry is facing a set of new labor-related challenges emerging from the pandemic. With the rapidly increasing competition against online stores, brick-and-mortar sales points have to be prepared for the sector’s labor crisis. Since the world has faced the pandemic, “keeping up with the time” is not an advantage or an optional choice anymore – retailers need to correspond with up-to-date standards to stay competitive and to be in the black.
A Dive into the Current Labor Market Situation
While referring to the post-COVID economy, shoppers and retailers see two opposite sides of the coin. Shoppers mostly feel like the hurdles and challenges are over, and business owners understand that coronavirus outbreaks continue to take down their staff.
The labor crisis in retail happened in 2021, as brick-and-mortar stores had been hiring fewer workers impacted by worries of a recession. The Society for Human Resource Management reported that 90% of polled retailers faced hurdles while filling open positions. The number of applications in retail trade decreased by 270 000 in 2021, according to the Bureau of Labor Statistics. As such, the sector witnessed rising wages.
The year 2022 delivered an ultimatum to retailers: either to pay employees more and hire some extra workers with an eye to possible COVID outbreaks, or to cut their operating capacities down. There is no in-between, isn’t it?
Fortunately, innovative technologies give this in-between to brick-and-mortar stores. Self-checkout systems are ready to deprive retailers of extra expenses, giving their businesses a competitive edge. An SCO system seems to become a perfect solution for all the challenges emerged in the retail sector.
Top-3 Hurdles that Restrain Retail Market Development
Here are the most outlined bottlenecks that negatively affect the retail market development:
Long lines that lead to loss of time. Long lines are the most irritating factor that forces shoppers to prefer online stores over brick-and-mortar ones.
Lack of digitalization. Newer generations are looking for some technological changes; this is why businesses need to meet new standards.
Staff turnover. Most workers employed in the retail industry consider their jobs as occasional ones; this is why a sales point suffers from the lack of highly qualified employees.
Furthermore, business owners face the labor shortage and constant increase in wages understood as hurdles for the retail market as well.
Self-Checkout Systems as a Magic Pill for Retailers
The self-checkout system market has already surpassed the mark of $3.5 billion; meanwhile the Global Market Insight expects this number to hit $10 billion by 2030.
SCO technologies are on the way from the “attention-magnet for younger customers” to the “must-have technology to compete with online stores.”
What are the core benefits offered by self-checkout systems?
Expenses reduction. First and foremost, SCO systems take care of your expenses. One qualified employee is enough to maintain 5-s self-checkouts; this is why such an innovation effectively solves the labor shortage problem.
Purchase time reduction. Shoppers need less time to purchase goods, as SCO systems make this process exceptionally simple. Some basic steps and a customer gets his goods bought and a receipt printed.
Greater accuracy. Self-checkouts provide shoppers with greater accuracy in comparison with checkout operators. The whole process is under a customer’s control; this is why no double scans or other mistakes will happen. Furthermore, systems are equipped with built-in thermal printers that let shoppers check their item lists more accurately.
No lines. SCO systems require less space than traditional Point-of-Sale units; this is why business owners may place a set of self-checkouts within a small area. As such, customers get an opportunity not to wait in lines for a long time. The contactless purchase process serves as an extra benefit under pandemic conditions.
Next-gen design. Self-checkouts still play the role of attention catchers. Shoppers understand those systems as something related to progress. Younger generations love SCO systems the most.
The list of advantages is quite persuasive. Less costs for staff, more comfort for shoppers, and extra stars for your sales point’s ranking. Isn’t it enough to start searching for high-class self-checkout systems?
HiStone to Provide Retailers with the Industry-Best Solutions
Self-checkouts are something business owners need to implement to give their businesses a competitive edge; meanwhile, retailers have a chance to choose the market-best solutions that combine ultimate features and moderate prices.
HiStone takes care of retailers, offering them a set of innovations that jump businesses to brand-new levels. The company understands the growing needs and updated challenges of the retail market; this is why brick-and-mortar sales points access diverse models to implement the one entirely corresponding with your demands.
High-quality touchscreens, powerful processors to make purchases quick enough, integrated thermal printers and barcode scanners, and a wide array of optional features. HiStone never forces business owners to pay for characteristics they will never demand. Choose the best model that entirely matches your tasks and challenges.
On top of this, the company always thinks about design. Let the SCO system perfectly match your sales point’s interior design.
With all the named benefits, HiStone self-checkout systems impress their future owners with reasonable prices. This said, a retailer unlocks access to the technology that revolutionizes his business and opens new horizons for further development.
Keep Your Business on the Light Side: Find the Best SCO System
This year, it has already become evident that self-checkouts are here to stay as they really help the owners of chain retail stores reduce costs and win the fight for customers. The only question here is, which model is the best for your demands?
To find an answer, just look through the HiStone products and check the basic and optional characteristics you need. We have a wide range of SCO solutions catered to everyone's business requirements. Still have some concerns? Let our qualified managers help you pick the best self-checkouts, both reliable and cost-efficient, to drive ultimate customer experience and maximize your profit margins. HiStone self-checkouts are a perfect choice for retail stores, cafes, restaurants, hotels, and other businesses.
Drop us a line to get more information.