Since the debut of self-checkout machines, retailers from Kroger and Walmart to Target all peddled that self-checkout is faster and that these machines were there not to replace workers.
Their stocks collectively grew as Wall Street applauded these investments, believing that tech innovation would unlock unprecedented efficiencies and profits for the age-old, overhead-intensive business of retail.
Ultimately, the retail industry is just as confused as everyone else as there’s no clarity in the data. Is getting rid of a few part-time, $10-15 hourly cashiers actually even meaningful if you end up hiring full-time loss prevention? Did retailers who installed self-checkout end up saving money or improving their profits?
Has anyone’s fundamentals actually changed before and after self-checkout? And how did such a conservative industry get caught up in this hype?
Modern MBA
Since the debut of self-checkout machines, retailers from Kroger and Walmart to Target all peddled that self-checkout is faster and that these machines were there not to replace workers.
Their stocks collectively grew as Wall Street applauded these investments, believing that tech innovation would unlock unprecedented efficiencies and profits for the age-old, overhead-intensive business of retail.
Ultimately, the retail industry is just as confused as everyone else as there’s no clarity in the data. Is getting rid of a few part-time, $10-15 hourly cashiers actually even meaningful if you end up hiring full-time loss prevention? Did retailers who installed self-checkout end up saving money or improving their profits?
Has anyone’s fundamentals actually changed before and after self-checkout? And how did such a conservative industry get caught up in this hype?
1 month ago | [YT] | 82