Close Menu
  • Home
  • Business News
    • Entrepreneurship
  • Investments
  • Markets
  • Opinion
  • Politics
  • Startups
    • Stock Market
  • Trending
    • Technology
  • Online Jobs

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Tech Entrepreneurship: Eliminating waste and eliminating scarcity

July 17, 2024

AI for Entrepreneurs and Small Business Owners

July 17, 2024

Young Entrepreneurs Succeed in Timor-Leste Business Plan Competition

July 17, 2024
Facebook X (Twitter) Instagram
  • Home
  • Business News
    • Entrepreneurship
  • Investments
  • Markets
  • Opinion
  • Politics
  • Startups
    • Stock Market
  • Trending
    • Technology
  • Online Jobs
Facebook X (Twitter) Instagram Pinterest
Prosper planet pulse
  • Home
  • Privacy Policy
  • About us
    • Advertise with Us
  • AFFILIATE DISCLOSURE
  • Contact
  • DMCA Policy
  • Our Authors
  • Terms of Use
  • Shop
Prosper planet pulse
Home»Stock Market»Why the DJIA is struggling to mirror the US stock market
Stock Market

Why the DJIA is struggling to mirror the US stock market

prosperplanetpulse.comBy prosperplanetpulse.comJune 30, 2024No Comments4 Mins Read0 Views
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


According to data from Capital One Shopping and ECR, 96% of U.S. grocery stores offer self-checkout options. About 40% of grocery store registers are self-checkout. About 77% of non-grocery retailers offer some form of self-checkout option.

For consumers, the concept of self-checkout lanes often provokes a variety of reactions. Some don’t mind, others complain. We go into a store, spend money, and end up doing a job for our employer. We don’t get paid. We don’t get benefits. We don’t even get invited to the company Christmas party.

But over the past few years, the use and adoption of self-checkout kiosks has been steadily increasing. Perhaps more importantly, there’s evidence that, as consumers, we don’t seem to care much about this nebulous concept of customer and employee.

Self-checkout options come in a wide variety of types and can be found in grocery stores, supermarkets, department stores, fast food restaurants, gas stations, amusement parks, movie theaters, parking lots, and are often accessed through a mobile app on a cell phone or laptop.

Anyone else reading this…

As of 2024, the North American self-checkout systems market is worth $2.68 billion, up 65% since 2021. By 2030, the market is expected to exceed $6 billion. According to a global survey by Zebra Technology, 82% of retail decision makers plan to increase their investment in self-checkout technology by 2025. 45% plan to transition more traditional manned registers to self-checkout.

The primary benefit to retailers is reduced labor costs. The federal minimum wage is currently $7.25 per hour, but 31 states (62%) have enacted minimum wage laws that exceed the federal requirement. Currently, Washington state has the highest minimum wage at $16.28 per hour, followed by California at $16 per hour. However, California recently raised its minimum wage for most of its fast food industry to $20 per hour.

Locally, Iowa’s minimum wage is $7.25 an hour, matching the federal minimum wage, while Illinois has one of the highest minimum wages in the nation at $14 an hour, which is set to increase to $15 an hour on January 1, 2025. In Chicago, the current minimum wage is $15 an hour for businesses with 4-20 employees and $15.80 an hour for businesses with 21 or more employees.

But the shift away from manned registers has some drawbacks. Capital One Shopping notes that self-checkout kiosks increase theft by 65%. 15% of consumers intentionally use self-checkout kiosks to steal, and of those, 44% admit they plan to do it again. The average value of items stolen per theft is $60. And then there’s accidental theft: 21% of thefts at self-checkout are considered accidental, where shoppers simply don’t realize their items aren’t being scanned.

So what are Americans’ views on self-checkout? The results may surprise you: A Capital One Shopping survey found that 73% of American consumers prefer self-checkout kiosks over traditional manned registers. In fact, 79.3% complete more than half of their shopping at a self-checkout kiosk, 59.6% have increased their use of self-checkout in the past year, and 52.8% plan to do so in the next 12 months. The main reason for this preference is speed: 85% of customers say self-checkout is faster than traditional registers.

But its popularity depends heavily on age: According to a PlayUSA survey, 84% of Gen Z shoppers (born between 1997 and 2021) prefer self-checkout over traditional registers. This preference drops to 76% for millennials (1981-1996), 57% for Gen X (1965-1980), and just 46% for second-generation baby boomers (1955-1964).

Love them or hate them, self-checkout aisles are here to stay. Retailers are increasingly turning to them for efficiency and cost-effectiveness. It’s by no means a perfect system; retailers’ goal is to make the process more user-friendly. Just don’t expect to get invited to the grocery store employee Christmas party.

Mark Grywacheski is an expert in financial markets and economic analysis and an investment adviser with Quad Cities Investment Group in Davenport.

Disclaimer: Opinions expressed herein are subject to change without notice. Prices and quotes stated herein are indicative only and do not constitute an offer to buy or sell securities at any particular price. Information has been obtained from sources believed to be reliable, but no guarantee is made that the materials presented are accurate or provide a complete description of the securities, markets, or trends referenced. Quad-Cities Investment Group LLC is an investment adviser registered with the U.S. Securities and Exchange Commission.

Business News You Need

Get the latest local business news delivered to your inbox every week for free.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
prosperplanetpulse.com
  • Website

Related Posts

Stock Market

The stock market is moving in a way not seen since 2000. History shows this is what will happen next.

July 13, 2024
Stock Market

The stock market is moving in a way not seen since 2000. History shows this is what will happen next.

July 13, 2024
Stock Market

Five key things to watch in the stock market this week

July 13, 2024
Stock Market

The US is expected to dominate the stock market in 2024

July 13, 2024
Stock Market

The US is expected to dominate the stock market in 2024

July 13, 2024
Stock Market

Warnings of an “imminent” stock market correction suddenly flashed red just as the S&P 500, Dow and Nasdaq hit all-time highs.

July 13, 2024
Add A Comment
Leave A Reply Cancel Reply

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Editor's Picks

The rule of law is more important than feelings about Trump | Opinion

July 15, 2024

OPINION | Biden needs to follow through on promise to help Tulsa victims

July 15, 2024

Opinion | Why China is off-limits to me now

July 15, 2024

Opinion | Fast food chains’ value menu wars benefit consumers

July 15, 2024
Latest Posts

ATLANTIC-ACM Announces 2024 U.S. Business Connectivity Service Provider Excellence Awards

July 10, 2024

Costco’s hourly workers will get a pay raise. Read the CEO memo.

July 10, 2024

Why a Rockland restaurant closed after 48 years

July 10, 2024

Stay Connected

Twitter Linkedin-in Instagram Facebook-f Youtube

Subscribe