INDUSTRY VIEW self-checkout cameras and sensors, 51 % in Europe, 45 % globally; computer vision, 43 % in Europe, 46 % globally; and RFID tags and readers, 43 % in Europe, 42 % globally within the next three years; specifically for loss prevention.
This should come as a relief to shoppers, as 70 % in Europe, 78 % globally say it is annoying when products are locked up or secured within cases. Adding to that frustration is that it is hard to find an associate while shopping in stores these days, according to 69 % of consumers in Europe, 70 % globally.
Falling satisfaction levels
One in five shoppers, 19 % in Europe, 21 % globally who left a store without getting what they needed say it’ s because a retail associate was not available to help, an increase over the past two years.
Although consumers are still generally satisfied with their shopping experience and global consumer spending is holding steady, fewer shoppers overall are satisfied with their shopping experiences this year. In 2023, 85 % were satisfied with both the in-store and online experiences. This year, only 76 % in Europe, 81 % globally are satisfied with the in-store experience and 76 %, 79 % globally with online shopping.
Along with enhancing the customer experience, the study shows retailers’ top priorities include improving mobile workforce efficiency and productivity along with inventory management. More than onethird of them, 44 % in Europe, 39 % globally believe that Generative AI will have an extremely significant impact on inventory management and demand forecasting.
They will also be automating product locating and item-level RFID, 52 % in Europe, 46 % globally, video monitoring, 49 % in Europe, 45 % globally, and stock-out alerts, 42 % in Europe, 45 % globally to give associates and shoppers real-time inventory visibility, which is a profitability driver.
Retailers can exceed shopper expectations, drive profitability and empower engaged associates if they:
Protect shoppers on loss prevention Most shoppers, 71 % in Europe and globally are concerned the stores at which they shop are experiencing high levels of theft and crime. Like associates, they worry threats cannot be spotted or stopped. However, 73 % of shoppers in Europe, 77 % globally are also concerned retailers may raise prices to cover the cost of increasing theft and crime.
Passing operational costs onto customers Shoppers are more price sensitive than ever, with over three-quarters, + 75 % worried inflation will drive up the prices of both everyday essentials and big-ticket items and force them to reduce overall spending.
Give associates more technology Most associates, 83 % in Europe, 85 % globally feel strongly that their store needs more associates, and 77 % of retailers in Europe, 81 % globally agree. Associates also believe stores that leverage retail technology and mobile devices attract and retain more associates, and shoppers have a better experience when associates use the latest technology to assist them. •
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