Self-checkout grows, moves beyond the supermarket

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Atlanta-based NCR Corp. (NYSE: NCR) is among the largest hardware, software and services companies for self-checkout and other payment technologies.

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In its first quarter earnings call in April, the company reported that sales from its self-checkout business had increased 8 percent year-over-year, while recurring revenue in the segment increased 3 percent compared to the first quarter of 2021. The company reported total revenue for the quarter of $1.86 billion, a 21 percent boost from the same period last year.

“Order activity in this business is very strong, backlog is high, and lead times are extending,” Tim Oliver, NCR’s executive vice president and CFO, told analysts in April.

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Executives also added that their products and business offerings are being adopted beyond grocery retail and into more restaurants, gas stations and big box chains like Home Depot and Bed, Bath and Beyond.

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Most every shopper has a strong opinion self-checkout, but their views are generally positive, according to a report last year by PYMNTS, a payments industry trade publication.

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The report surveyed 2,665 adults and found that some 80 percent of in-store shoppers like the idea of nontraditional checkout options, and 66 percent reported that those kinds of checkout options are the ones they most want to try. The majority of surveyed shoppers — more than 60 percent — pointed to greater speed in self-checkout lanes and avoiding waiting in line.



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