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New Study Finds That More Than Half of Consumers Will Shop Less, or Not at All, In Physical Stores This Holiday Season Primarily Due to COVID-19 Concerns

Standard Cognition
·2-min read

Checkout-free tech is one innovation that could bring consumers back to stores

Nearly one-third of survey respondents said that checkout-free technology, such as Standard's camera-based system pictured here, would make them more likely to shop in physical stores this holiday season. Checkout-free tech lets shoppers walk into a store, get what they need, and leave without having to wait in line or scan anything.
Nearly one-third of survey respondents said that checkout-free technology, such as Standard's camera-based system pictured here, would make them more likely to shop in physical stores this holiday season. Checkout-free tech lets shoppers walk into a store, get what they need, and leave without having to wait in line or scan anything.
Nearly one-third of survey respondents said that checkout-free technology, such as Standard's camera-based system pictured here, would make them more likely to shop in physical stores this holiday season. Checkout-free tech lets shoppers walk into a store, get what they need, and leave without having to wait in line or scan anything.

More than half of consumers said they would feel safer in physical stores equipped with touchless technologies such as checkout-free or touchless payment tech

SAN FRANCISCO, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Standard (“Standard Cognition”), which provides the only autonomous checkout solution that can be quickly and easily installed in retailers’ existing stores, announced today the results of a new survey of 1,038 U.S. consumers conducted Nov 5-6, 2020 about their holiday shopping plans.

Findings include:

  • 36 percent will shop less in physical stores than in 2019;

  • Another 23 percent will shop exclusively online;

  • 68 percent said COVID-19 was a factor in deciding how to shop.

When asked which, if any, of these shopping options would make them most likely to shop in physical stores this holiday season, respondents said:

  • Self-checkout (34 percent),

  • Checkout-free tech (31 percent), and

  • Touchless payment options (22 percent)

“The good news is that in-store shopping isn’t going away,” said Jordan Fisher, Co-founder and CEO of Standard. “But there is a large proportion of consumers who are wary of shopping in stores right now. As this study reveals, retailers that are able to provide checkout-free experiences and other touchless technologies are going to be better equipped to draw customers into stores going forward.”

About Standard
Standard is transforming retail as we know it, with the first autonomous checkout solution that works in any existing store and allows customers to walk in, grab what they need, and walk out without waiting in line or stopping to scan or pay. The company’s machine vision and AI-powered solution is the only one that can be quickly and easily installed in retailers’ existing stores, representing a giant leap forward for retail tech and enabling retailers to rapidly deliver an amazing new shopping experience to customers. The first and best-funded startup in this space, Standard has launched multiple operational stores with customers, and is working with retailers around the world. Learn more at https://standard.ai/

Media Contact:
Alex Plant
Marketing at Standard
plant@standard.ai

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f1ab5dc4-fa00-441e-8837-96cbb8b01af5