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The $5B must be viewed in the context of roughly $5T in revenue: https://nrf.com/research-insights/state-retail https://nrf.com/research-insights/state-retail
by microtherion 3y ago
The $5B must be viewed in the context of roughly $5T in revenue: https://nrf.com/research-insights/state-retail https://nrf.com/research-insights/state-retail
So we're talking .1% of retail revenue. Not that I'm fond of thieves, let alone organized ones, but it does not seem an existential threat to me at this level.
As a comparison, eliminating cashiers in favor of automated checkout solutions is estimated to a loss of about 1% of revenue: https://www.winsightgrocerybusiness.com/technology/self-checkout-registers-arent-going-anywhere-neither-are-their-critics https://www.winsightgrocerybusiness.com/technology/self-chec...
- deelowe 3y agoMany companies are removing self checkout because of this so I'm not sure that's a great example.
- toomuchtodo 3y agoStill a great outcome if that’s the case.
- somesortofthing 3y agoI'm not sure I've ever seen a self checkout removed, even in downtown Seattle locations where everything's been locked up and security is patrolling every floor. I've seen increased surveillance and scare tactics at self checkouts but I think costco is just about the only major store left that hasn't pushed people into using almost exclusively self checkout.
- deelowe 3y agoIt's recent. Walmart is removing them in my area.
- Jiro 3y agoThat sounds like it's reporting gross revenue. Claiming that the $5B is unimportant because it's a small percentage of revenue, when it's actually gross revenue, is misleading.