New Data on Self-Service Kiosks Highlights Opportunities for Refreshment Operators
September 26, 2024
The self-service kiosk market is experiencing significant growth. Recent data from IndustryARC predicts that the global self-service kiosk market will reach $43.6 billion by 2030. This growth, driven by both technological advancements and consumer preferences, promises a bright future for refreshment operators.
Consumer Preference for Self-Service Solutions
Self-service kiosks have steadily gained popularity since their introduction in 1977. Today, self-service payment options have now become widely used in sectors like retail, grocery, and gas stations. According to the PYMNTS Intelligence report titled “Unattended: The Payments Technology Shifting the Future of Commerce,” 84% of U.S. shoppers enjoy using self-service kiosks, with 66% expressing a preference for these options over staffed checkouts.
This trend is particularly strong among younger generations. The PYMNTS Intelligence report notes that 84% of Generation Z and 76% of millennials prefer unattended kiosks. As these groups increasingly dominate the workforce, the demand for self-service solutions is expected to rise, driven by their desire for convenient, technology-driven options.
The same report also reveals that 81% of consumers want more self-service options in the stores they frequent, with customers embracing smart alternatives to traditional interactions. The workforce of the future is looking for smart, modern checkout options that fit into their busy lifestyles.
Growing Interest in Self-Serve Solutions, Such as Micro-Markets
Trends in consumer preferences match market growth. Currently, the self-serve kiosk sector accounts for $31 billion in the USA. Globally, IndustryARC’s report expects that the market will grow to $129 billion by 2030.
One of the leading sectors within this space is food ordering, which accounted for 37% of the market in 2023. Because kiosks make the ordering process more efficient, the report predicts further growth. Beyond food service, self-service kiosks are increasingly being integrated into electric vehicle charging stations, hotel pantries, and micro-markets. Overall, unattended retail spaces are projected to experience a 7.3% growth rate in self-service kiosk usage through 2030.
Key Insights for Refreshment Operators
For refreshment operators, the growing popularity of self-service kiosks presents new opportunities to improve customer service and increase sales. As self-service kiosk technology evolves, refreshment operators can leverage the benefits of modern kiosks.
Self-service kiosks also generate valuable sales data, which can be used to improve operations. With the help of artificial intelligence (AI), Internet of Things (IoT), and analytics tools, operators can track consumer spending patterns and adjust their offerings accordingly. For example, data reports might provide valuable insight into optimal product placement, best products to stock and suggestions to pair with popular micro market options, and the effectiveness of promotions, such as BOGO or a percentage off one item. This information allows operators to make informed decisions that can enhance the customer experience and boost sales.
A Bright Future for Self-Service Kiosks
Self-serve kiosks have a promising future, driven by consumer preferences and favorable industry trends. For refreshment operators, understanding these trends can provide a competitive advantage over other local operators. By embracing the new technology self-service kiosks bring, they can greatly improve customer service and sales. With these data-driven insights, operators can capitalize on the growing popularity of self-service kiosks and better meet the needs of all micro market customers.
