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Discussion: The Future Store, a supermarket near Düsseldorf, Germany, aims to discover profitable links between technology and shopping habits.  Thanks to Near Field Communication (NFC) chips in their smart phones, shoppers will soon be able to scan the barcodes of items as they pick them off the shelves and a final barcode will be generated and scanned at a self-service checkout.  The upside is less time at the tills, but the downside is each item scanned takes around 10-15 seconds and the shopper must use both hands.  Although both retailers and phone manufacturers are touting this technology as the next big thing, consumers may a need a little more convincing before they change the way they shop.

Source: BBC news

Date: January 31, 2011

Link: http://www.bbc.co.uk/news/business-12310810

Questions for discussion:

  • According to the article, consumers demand what three things when paying at the supermarket?
  • Do you think paying with a smart phone will translate to increased consumer spending or just simply enhance the shopping experience?
  • Discuss the very chilly response to the fingerprint payment system.

One Response to “Will shoppers be enticed by new ways of paying?”

  1. Matthew

    Consumers willingness to accept novel pricing will be dependant on the barrier that the new pricing imposes on clearing the point of sale.

    There’s some degree of irrational thinking on the part of consumers. They’ll pay more money for reasons that do not necessarily make sense. I think there’s a lot of ‘novelty’ payment methods in the field right now, stuff like paying with your phone.

    If companies want to turn a novel payment method into a revenue stream they should look to financial incentives. An extra 1 cent per item off if they do self check out. Banks have used this model, adding fee’s to see bankers for transactions that could be conducted at ATM’s.

    Reply

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