HomeNewsFinance7-Eleven has high hopes for its cashierless store experiment

7-Eleven has high hopes for its cashierless store experiment

There are many ways in which technology can change the daily lives of consumers. 7-Eleven is now experimenting with a cashierless store concept. This trial is limited to the corporate HQ in Irving, Texas.

The Cashierless Experience

It is not uncommon for consumers to leave stores without interacting with a cashier. A lot of chains provide self-service checkout systems in this modern day and age.  Not everyone is a fan of this system for a wide variety of reasons. 

Some consumers enjoy interacting with a human behind the register. Others don’t trust the technology used for self-checkouts or experience issues with it. 7-Eleven is taking on a relatively big task with this cashierless approach.

By keeping the trial limited to just one location, valuable information can be gathered. Although only 7 employees will partake in the trial, it is still a decent sample. After all, the employees will be able to provide valuable feedback. Improving upon this concept is crucial to its future survival.

At the same time, this cashierless concept will require some work. Under the hood, 7-Eleven relies on algorithms and predictive technology. This allows the store system to distinguish between individual customers and their purchases.  Speaking of purchases, products will span popular goods found at most 7-Eleven locations. 

The entire experience is app-based. Once users sign up through the app, they can check in at the store, shop, and exit. After exiting the store, customers will be presented with a detailed receipt. No exact details have been provided regarding supported payment methods. Payment cards and perhaps mobile payments seem like very plausible options to streamline this experience.

The Evolution of Retail Technology

In recent years, retail technology has come a very long way. There are many different forms of evolution to keep an eye on. For 7-Eleven, experimenting with new technologies is crucial. Retailers cannot afford to stand still in this ever-changing world. Not just in terms of technology, but also consumer needs and expectations. 

7-Eleven President and CEO Joe DePinto adds:

“Retail technology is evolving at a rapid pace and customer expectations are driving the evolution. Our team is dedicated to continuing 7-Eleven’s legacy of innovation with industry-leading digital solutions. Most recently that has included our award winning 7Rewards loyalty platform, 7NOW on-demand delivery, mobile checkout, and now our new cashierless store.”

Benefits of this cashierless approach are easy to spot. In a perfect world, it enables faster and easier transactions. Moreover, it provides a seamless shopping experience without the usual checkout-related friction. There is still a long way to go before this type of experience will become widely accessible. 

JP Buntinx
JP Buntinx
JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.


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