Remember what happened to the shopping centers in US? They were wiped out or at least decimated by the mighty online retailers. Out of political correctness it is called ‘Internet effect’ but most commonly it is referenced as “Amazon effect”. As Amazon has virtually defeated the retail chains it turned to retail innovations itself. As a result the concept of the cashierless retail stores was born. But Amazon is not alone in the competition. Israeli startup Trigo Vision offers competitive product which is, according the staff, is 99.5 percent accurate.
Trigo Vision is working with the largest supermarket chain in the country, Shufersal to set the cashierless system in 272 stores. Instead of usual checkout the buyers will be billed directly as they are going out of the store. It is achieved without using special special markings on goods and shelves. The entire system works by analyzing the video stream of what happens in the salesroom. The cameras are set up on ceiling. The error in 0.5 percent margin is acceptable.
The initiative is not met with unanimous support however. 272 stores which will go cashier-free will lay off at least 600 cashiers. It is not met with applaud in a country where the job is a major concern.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email maurice.eisma@economicinform.com
