Prospering From the Accelerated Growth of 'Human-Less Transactions'
CORAL SPRINGS, Florida, July 11, 2018 /PRNewswire/ --
FinancialNewsMedia.com News Commentary
The world of retail is being turned upside down with consumers and investors alike preferring 'human-less' transactions, interactive retail services and multiple payment options. It's no secret that traditional retail brands are doubling down on their investment into autonomous robotics in the name of competitiveness and bottom-line profitability.
Companies highlighted in today's commentary are positioned to benefit from this disruption, include: Generation Next Franchise Brands, Inc. (OTC: VEND); Bank of America (NYSE: BAC); Wendy's (NASDAQ: WEN), JD.com, Inc. (NASDAQ: JD) and McDonald's Corp (NYSE: MCD).
ResearchAndMarkets.com predicts a multi-billion industry within the next five years: "Taking into account the overall sector, which includes things like electric charging kiosks and those increasingly sophisticated vending machines that dispense a widening array of products and foods, the firm predicts a $34 billion automated kiosk market by 2023."
Greg Nichols of Robotics writes that we're on the verge of a total sea change in the retail industry: "A billion dollar industry is emerging to make checkout faster by removing human cashiers." In the absence of a cashier - and the traditional bricks-and-mortar retail environment - unattended retail attracts more customers who spend more money. Fully-autonomous, self-monitoring, self-cleaning vendors that don't take breaks, sick leave or vacations means greater efficiency for retail operators, investors and consumers.
Millennials in particular prefer to avoid any human interaction at all during the shopping or the delivery process. This tech-savvy generation places a premium on time, convenience, and customization, favoring machine automation over human interaction. Steve Easterbrook, the CEO of McDonald's, had this to say about the future of self-service kiosks: "What we're finding is when people dwell [around our self-service kiosks] more, they select more ...We do know it helps grow the business, we know it's the right route to go down. We can't get there quick enough in the U.S."
From consumer electronics to bank branch transactions to ear buds to frozen yogurt, consumers of all ages are demanding both self-service and multiple payment options. Investors with early insights into these new norms of daily commercial behavior are poised to prosper.
San Diego-based Generation Next Franchise Brands, Inc. (OTCQB: VEND) is the developer of the world's first fully-automated robotic frozen yogurt vending kiosk designed to disrupt brick-and-mortar competitors: Red Mango or Orange Leaf. These "unattended" robots eliminate the need for costly rents and employees; significantly reduce food safety concerns; and are capable of operating 24-hours a day. On July 9, 2018, the company reported $150M in aggregate bookings and additional commitments for its franchise concept Reis & Irvy's. Chairman Nick Yates, in VentureBeat, writes: "If robotics is the force driving vending machines forward, artificial intelligence is the next frontier - and we're right on track."
Emerging companies like Generation NEXT Franchise Brands (OTCQB: VEND) are successfully integrating food delivery automation and self-reporting systems, while producing robots that also have the ability to accept payments of all kinds, including PayPal, Google Wallet, Apple Pay, even cryptocurrency such as Bitcoin.
Young Americans are the biggest segment to shy away from cash purchases, and prefer other means of payment. With PayPal, Google Wallet, Apple Pay and numerous other mobile payment options, Americans find it more convenient to pay for in-person purchases electronically.
