Huge Uptick in Unmanned Stores Predicted

Investment in unmanned stores is expected to hit $962.6 billion by 2033, a whopping 31.6% yearly increase from the $81.4 billion spent last year, a new study by ResearchAndMarkets concludes. Driving that growth: advancements in automation and artificial intelligence (AI).

“These stores, which operate without human staff, leverage cutting-edge technologies such as AI, IoT (Internet of Things) and machine learning to enhance the shopping experience,” the report notes. “Key industry players are investing heavily in developing sophisticated systems that enable seamless checkout processes, inventory management and personalized customer interactions. The shift toward unmanned stores is largely fueled by consumer demand for convenience and efficiency.

“With the ability to operate 24/7 and reduce labor costs, unmanned stores also present a lucrative opportunity for retailers aiming to optimize operations and improve profit margins….”

The report notes established retail names already jostling for space in this market include the following:

• Amazon Go
• Carrefour
• JD Inc.
• 7-Eleven Inc.
• Tesco PLC
• Walmart Inc.

Unmanned stores already in operation typically have customers check out using automated, smartphone-activated payment systems. Despite the potential such systems have, some major stumbling blocks remain to the widespread adoption of unmanned tech in stores, the report notes.

“The future trajectory of the unmanned stores market depends on factors such as technological breakthroughs, regulatory environment and market acceptance. While the potential for transformative impact is immense, challenges such as regulatory compliance, data security concerns, and high initial setup costs persist. Addressing these challenges is crucial for sustained growth and transitioning [from the growth] to the maturity stage, where market consolidation and optimization of operations will become the focus.”

Click here for more from the ResearchAndMarkets study.