What’s old is new again. Vending machines, department stores, in-store analytics… it reminds of us of simpler times. And, with the all the earnings calls today, we’re going old-school. Here is the top retail news of the day, and a playlist to go with it:
Gen Z fuels vending machine surge. “Unattended Retail” (ie. kiosks, vending machines) saw an increase of usage for younger generations (23% of 18 – 34 year olds increased usage versus 4% of 55+ years old). They cited speed, social distancing, and convenience for their increased usage. It is essentially just another method for “contactless” shopping. They must have seen the meat vending machine.
Amazon reportedly planning to open small department stores. Yep, that’s right. It’s all speculation, but here’s the tea: the 30,000 sq ft stores would be similar to the modern department store (a la Bloomingdale or Nordstrom), located in strip malls, and would primarily focus on apparel and technology products (owned and supplier). Amazon keeps looking for ways to make physical work. It’s an interesting time, given that many department stores have closed (opportunity) but real estate prices are still high (risk).
Home Chef Launches In-Store Analytics Solution. Partnering with Retail Aware, the solution gathers “real-time data to boost campaign metrics, lift sales, monitor out of stocks and ensure execution”. The details were scarce, but we’re keeping an eye to see how this pans out for Home Chef and, by extension, Kroger.
Telsa plans to release an AI robot next year. The robot will do “boring, repetitious and dangerous work, including delivering groceries… [or] attaching bolts to cars”. This was also the dream of the 1950’s, but Tesla actually has the technology, resources, and competency to pull it off. If they can deliver, this will open up new avenues for Tesla and beyond.
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