The notion behind frictionless shopping is the desire to have as few moving parts in a transaction as possible.
For the convenience store operator looking at implementing a frictionless checkout program, deciding which type of frictionless checkout works best for your operation gets you half the way to the goal line.
Frictionless checkout includes Just Walk Out technology that uses computer vision and artificial intelligence to allow customers to leave stores without having to stop on the way out and pay; or it can use a mobile app where customers scan barcodes and checkout right on their phone. But there are other ways retailers can remove friction from the checkout experience.
Indeed, “frictionless checkout/payment” is a broad term that can include all of the following:
- Mobile and digital wallets
- In-app payments
- One-click payments
- Just walk-out technology
- Auto-renewing subscriptions
- Contactless card payments
- Other digital payment options
Stores that aren’t ready to implement Just Walk Out technology or the ability to checkout via an app, can still remove friction by considering one of these other options.
Purchasing options and payment forms have expanded greatly over the past decade for e-commerce. Making multiple frictionless payment options available for c-store shoppers will make customers happier, render checkout easier and quicker and help streamline retail processes. At present, more than 72% of e-commerce sales happen on a mobile device, according to Forbes.
Mobile wallets, for example, can include a variety of security controls, reassuring consumers that their personal information is being adequately safeguarded. Instant bank pay — bank-to-bank payments confirmed at the cashier station — smooths transactions. Subscription plans can auto-renewal have been shown to minimize the failed-payment rate. Some c-stores are testing subscriptions for coffee, car wash and more. Put it all together and it spells less bother for impatient shoppers on the way to somewhere else.
Research has shown that baby boomers, millennials and other demographic groups have differing preferences, to which all should be catered. Retailers considering implementing frictionless checkout should also keep the future in mind. Payment methods will continue to expand to include new products like cryptocurrencies and BNPL (Buy Now, Pay Later), a type of short-term financing that allows consumers to make purchases and pay for them over time, usually with no interest.