The
report titled “India PoS Scan and Go Market Outlook to 2030 –
Customer Journey and Business Side Penetration and Operational Business Model”
provides a comprehensive analysis of the retail automation by Scan and Go technology
in India. The report focuses on the market potential, target audience, business
side potential, target audience and future outlook and penetration in different
end user segments. The report also covers Business models, Trends and
Developments, Issues and challenges, Case studies where the Scan and Go
technology has been successfully implemented, Snapshot of the digital payments
market, Regulatory Framework in India, Competitive Landscape and Company
profiles of major players involved in this market.
Current scenario in
India PoS Scan and Go Market
The
shopping experience in India has evolved from manual billing to digital billing
over the past few years, in which the user receives a printed invoice. Now
days, the companies are moving a step ahead to provide digital invoice. While
there have been many PoS Scan and Go applications released in countries abroad,
in India this technology is still developing, especially in the country’s
Retail Grocery Sector.
Target Audience
The
potential customer base for this market consists of consumers in the middle,
upper middle and high income groups who have access to a smart phone and are
willing to adopt digital payments. The potential customer base can be
segregated according to:
·
Age of the Consumer: The
population in the age group of 15-64 years is likely to form the potential
customer base for self-checkout technology in Indian market. The younger
population would be much more open to try out the new technology as they happen
to be fast learners and early adopters.
·
Technology Adaptability of Consumer: Indian customers have entered an era of extraordinary
technological pervasiveness and are driven by increasing internet penetration,
rising smart phone usage and growing social media presence in the country. The
rising smart phone usage and penetration implies that the self-checkout
technology will be definitely tried and tested by a sizeable set of target
audience, when it will be launched in retail and other end users on a
mainstream level.
·
Income of Consumer: Self-checkout
technology will be used by those customers who have a smart phone and also have
higher internet accessibility. These customers generally fall in the middle,
upper middle and high income groups.
·
Location of Consumer:
Demand for PoS Scan and Go will be present largely in Tier 1 cities with a
limited potential in Tier 2 and 3 cities. People in tier 1 cities are generally
more tech-savvy than the other cities and hence these consumers are highly
likely to shop and make payments digitally through the Scan and Go application.
Business Side Potential
There are certain product characteristics which must be
present for the self-checkout technology to be on-boarded in a store. Products
which are bought on a need basis and those that are relatively inexpensive fall
under this category. Some end users who have been addressed already or may be
addressed in the future by PoS Scan and Go solution are:
Retail Sector: The retail industry in India
consists of multiple departmental stores, supermarkets, hypermarkets,
convenience stores, specialty stores and cash and carry stores. Self-checkout
is rapidly attracting customer attention and is quickly becoming a trusted
method of checkouts internationally; how-ever it is yet to become popular in a
developing country such as India.
Office Cafeterias: This basically includes cafes and food
outlets present within a particular office space or multiple co-working areas.
Scan and Go technology in office space can help in reducing the waiting time in
cafeterias by making the payment process faster when compared to the
traditional system of placing order on the spot.
Restaurants / QSRs / Cafes: This includes stand-alone restaurants,
Quick Service Restaurants (QSRs), take-away food joints and cafes within India.
The above mentioned entities can increase the convenience offered to their
customers by allowing them to pre-order their food items, thereby reducing the
waiting time, especially in rush hours. Most of the restaurants and cafes in
this segment already offer pre-order services through their own online apps,
telephonic order placing or through their already existing mobile applications
or through third party apps.
Airports (Food Courts and Duty Free
Areas): This
includes duty-free apparel stores, restaurants, cafes, QSRs and other retail
formats established within the airport in order to cater to both local as well
as foreign tourists. In accordance with the Airports Authority of India (AAI),
the country was evaluated with a total of 464 airports and airstrips located
across the country, out of which 125 airports are owned by the association and
the remaining 339 are non-AAI airports and airstrips. The self checks out apps
have not addressed this market yet.
Electronics Stores: This includes all types of standalone
electronics stores, mom and pop stores, departmental stores, supermarkets and
hypermarkets which may be brand specific or stores located within shopping
malls. The potential for this technology in India is extremely restricted
towards electronics stores as majority of the customers would require staff
assistance while purchasing any type of electronics products, especially when
the product is expensive.
Drugstores/Pharmacies: This basically includes standalone
drugstores and pharmacies, community/clinical pharmacies and retail pharmacies
as well as those located within malls. The list of actions for this technology
is fairly limited in this case as majority of the products at these stores are
medicines that cannot be bought without a prescription.
Entertainment Centers: This includes entertainment centers
such as theatres, cinemas, concerts, amusement parks, trade fairs, exhibitions
and sport stadiums. The use of Scan and Go apps in the entertainment centers is
extremely limited. As most of the tickets are purchased online way before the
show/match, the opportunity to use Scan and Go is negligible.
Competition Scenario in India PoS Scan
and Go Market
The market was observed to be a nascent stage along with the
emergence of a limited set of self-checkout companies, whose products are
either into Beta Testing or are yet to launch such technology in the market. It
is only Perpule 1Pay, which has well penetrated this technology in the market
and are currently catering to several clients. Firms operating within the
market were witnessed to compete on the basis of users on-board (number of app
downloads), user interface, payment options and number of stores on-board.
Other players in the market include Zwing, iRetail, SkippQ, Infinia Retail and
the self-checkout solution through partnership between SIGNCATCH and Axis Bank.
India PoS Scan and Pay Market Future
Outlook and Projections
In the future, it is expected that a larger portion of the
population in India will be using smartphones, therefore leading to increase in
smart phone penetration in the country. Amongst the end users, the retail
industry is anticipated to be the fastest growing segment in the PoS Scan and
Go market in India. Within retail sector, the self-checkout apps are likely to
be implemented in grocery stores across tier 1 and few tier 2 cities.
Whereas, the growth of PoS Scan and Pay technology in dine-in
restaurants, QSRs, food joints sector may be extremely limited and restrained
due to the presence of apps which are already used in this sector. In addition
to that, the technology in the food sector is continuously evolving and more
features may be introduced which will further reduce the use for PoS Scan and
Go apps. Also, over the long term, restaurants themselves may come up with
pre-order services or fast checkout counters which will prevent queues.
Growth in other end users such as office cafes, bookstores
and stationary stores, airports (food courts and duty free area), electronic
stores, drugstores / pharmacies and entertainment centers are also projected to
rise in the near future.
Key Target Audience:- PoS companies, Scan and Go Technology
Companies, Retail Sectors, Restaurants, Cafes and QSR, Bookstore and Stationary
Stores, Electronic Stores, Drugstores and Pharmacies, Airports (Food courts and
Duty Free shops), Entertainment Centers, Investors
Time Period Captured in the Report:-
Current Year: 2017
Forecast Period: 2018-2030E
Companies Covered:-
Perpule 1Pay
Zwing
iRetail
SkippQ
Infinia Retail
SIGNCATCH and Axis
Bank (Partnership)
Key Topics Covered in the Report:-
Executive
Summary
Research
Methodology
India
PoS Scan and Go Market
India
PoS Scan and Go Market Potential
Business
Models/Revenue Streams in India PoS Scan and Go Market
Trends
and Developments in India Scan and Go Market
Issues
and challenges in India Scan and Go Market
Snapshot
on Digital Payment system in India
Regulatory
Framework for India Scan and Go Market
Case
Study for Successful Implementation of PoS Scan and Go Technologies
Evaluation
Parameters of Consumers in India Scan and Go Market
Pain
Points faced by End Users in India PoS Scan and Go Market
Competitive
Landscape of India PoS Scan and Go Market
Company
Profiles of Major Players in India PoS Scan and Go Market
India
PoS Scan and Go Market Future Outlook and Projections, 2018-2030E
Analyst
Recommendations
For more information on the research
report, refer to below link:-
Related
Reports:-
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