Are kiosk systems making a comeback? Well, are they really? Depends on who you ask.
Per IRB Trends and Reports on LinkedIn, the future looks bright for this technology. In 2022, the market size was valued at 19132.11 million US dollars. In the next four years, in 2028, that number is expected to grow at the CAGR (compound annual growth rate) to 36526.34 million US dollars. Judging by the current market trends, it seems that kiosks are becoming increasingly prevalent in various settings worldwide.
Kiosks are utilized in a wide range of locations and are usually used in the routine of our daily comforts, from ordering a burger at a McDonald's, to the self-checkout at Target, Whole Foods or your other local supermarket.
With the benefits of these type of kiosks, there are some advantages you can use for yourself and your business. The largest pro is the ground-breaking change of customer service, as a whole. Customers are changing so many industries, such as retail and food, by making their shopping experience unique and personable through these devices. Kiosks give customers more freedom to filter out what they want to focus on, and make a final decision and purchase from what they see.
Kiosks also optimize people's time by making the customer experience more convenient. If customers come in knowing what they want to purchase, self-serving kiosks are going to make the experience that much more easy for them. Customers can swiftly enter, make a purchase, and exit just as efficiently as they arrived.
With the advantages kiosks offer, also come with disadvantages, too. The disadvantage isn't urgent, but there will be a loss of human interaction to your business with the installment of a point of purchase kiosk. While it does better the customer experience and your business will be financially okay, it will at times affect the "small-town vibe" of your business. If you're a small business owner, you may think twice on purchasing a kiosk, should you pride yourself on physically being there for the community.
The other big losses to your business to think about are the technological issues that come with any computer device. The Wi-Fi stops working, the power goes out... you know the deal. It's a down side that happens to everyone.
Considering the financial implications, making the investment in a point of purchase kiosk requires careful consideration. For instance, if you're trying to upgrade your business without paying an arm and leg" for services, point of sales company Toast offers a "Guest Facing Display" for a reasonable amount, though the option is the cheapest one they offer.
All in all, if you are personally asking for my opinion and advice on the investment in the window and door hardware replacement industry, I would say it all depends on what your retail or show room strategy is for your in-store customers. For business owners who want to offer a quick, easy service with an automated product purchasing system for your in-store consumers (as well as for people who potentially do not have the resources to assist customers constantly), then I would recommend investing. No matter where you look, essentially every industry is going high-tech. It's going to be difficult for businesses who don't want to accept that change.