Report: Consumers Will Spend $475 Billion at Self-Serve Kiosks

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Report: Consumers Will Spend $475 Billion at Self-Serve Kiosks

FRANKLIN, Tenn. – A research study by IHL Consulting Group reported that consumers will spend $475 billion when using self-service kiosks in 2006, an increase from $325 billion last year.

President of IHL, Greg Buzek, said that the revenue from self-service equipment will continue to increase. "We expect to see expenditures made at self-service kiosks to rise about 51 percent this year and 33 percent in 2007," he said. By 2009, the revenue made from these transactions will be approximately $1.2 trillion, Buzek said in a written statement.

The report said that for those retailers who have self- service kiosks, 15 to 40 percent of purchases are being made at those stations, Buzek said. Self-service kiosks also increase customer loyalty and satisfaction, according to Buzek.

The increase is evident for those retailers who have already installed self-service kiosks. CSNews Online reported on June 22 that Thorntons' self-service SubWorks kiosks had a return on investment (ROI) of 149 percent. Quick Chek expects to see a 150 percent ROI over three years after the installation of self-service kiosks CSNews Online reported on May 23. In addition, c-store giants such as Wawa and Sheetz have known the benefits of self-service kiosks for some time.

Time equals money for these consumers, and Buzek accounts the increase to consumers "time has also become more valuable and limited, and self-service is one way they can speed along their buying experience," he said.