THE BENEFITS OF SELF-SERVICE KIOSKS
AS THE INTERACTIVE SELF-SERVICE KIOSKS MARKET CONTINUES TO GROW AT A PHENOMENAL RATE IT’S TIME TO ASK IF YOUR BUSINESS IS MAKING THE MOST OF THE OPPORTUNITIES THEY BRING? BUT BEFORE YOU CAN DO THIS, IT’S IMPORTANT TO UNDERSTAND WHAT A KIOSK IS; “AN INTERACTIVE KIOSK IS A COMPUTER TERMINAL FEATURING SPECIALISED HARDWARE AND SOFTWARE THAT PROVIDES ACCESS TO INFORMATION AND APPLICATIONS FOR COMMUNICATION, COMMERCE, ENTERTAINMENT, OR EDUCATION...TO PERFORM A WIDE RANGE OF FUNCTIONS.”
The versatility of an interactive kiosk allows users to perform a range of functions from ordering food in fast food chains to purchasing out of stock products in a retail environment, issuing a room key in a hotel and buying travel tickets at a train station. The uses for interactive self-service kiosks are endless, and so too are the opportunity for them to be deployed.
The latest report by Markets and Markets - Interactive Kiosk Market, predicts that the kiosk market will be worth £23 billion by 2023 at a CAGR of 5.69% between 2017 - 2023. Increasing consumer interest in the interactive self-service market, twinned by the demand for enhanced customer experience are the primary drivers for this growth.
So how will this predicted growth affect your business? Consumer demands for exceptional customer service are growing, and companies need to consider how this requirement can be met while still keeping ahead of competitors.
In an age where technology is rapidly evolving. Introducing customers to versatile self-service kiosks hosting innovative technology can meet these demands, from developing solutions where customers have more control over their purchases to preferred payment methods and offering more in-store product information from promotions to building brand awareness will all drive footfall and increase customer satisfaction.
Currently, in the UK alone, there are over 16m+ millennials, a technology-driven generation looking for unique ways in which they can utilise technology on a day to day basis. A recent survey questioned 1000 men and women in 2015 found that 91% of millennials had used a self-service kiosk, of which 49% wanted to see them deployed in every store, figures which cant be ignored.
While these consumers are driven to your business, it is also important to understand that the speed and reliability of self-service kiosks offer an automated solution that will further improve customer satisfaction, in addition to minimising administration error.
Recent research has shown businesses that embrace new technologies, including interactive self-service kiosks and payment solutions have seen operational savings. McDonald's has seen a 3.8% rise in comparable store sales from 2016, with some stores seeing an average basket order of up to 30% higher than an order placed at the till. An increase contributed to agile and responsive software that can offer automatic upsell feature on all orders.
Kellogg School of Management found that a fast food chain such as McDonald's a seven percent reduction in service time could increase market share by as much as 3%. For McDonald's this would mean increasing its share from 17% to 20%, increasing revenue by as much as $4.3bn.
With figures like these being linked to the interactive kiosk market across the board, businesses need to consider the negative impact of not implementing interactive kiosk solutions within their organisations.
MD, Emlyn, Cole-Jones has this to say on the growth of the kiosk market:
"In the last couple of years, we have seen an increase in the number of kiosk requirements; both with existing and new clients who are keen to reap the rewards of integrating a kiosk solution within their businesses.
The increased pace at which organisations are installing kiosks means that keeping ahead of competitors while offering customers a dynamic, smoother experience is paramount. Delivering visionary software and a kiosk that has been intuitively designed is key to achieving these results.
Our clients have seen an increase in footfall and sales with customers choosing to engage with the kiosks over standard check-out processes.”
At KMS (Europe) Ltd we can consult, design and install interactive self-service kiosks into your business while developing a fully bespoke software solution. We are currently offering a free consultation with our Kiosk Designer, to arrange your appointment with him, click here.