Fintech & Ecommerce

Amazon Expands Palm Scan Payments in Bid for Grocery Shopper Loyalty

Amazon is adding pay-by-palm and smart carts to an increasing number of grocery stores.

Amazon Expands Palm Scan Payments in Bid for Grocery Shopper Loyalty

Source: motionarray.com

The company sent out an email notification about the addition of the Amazon One palm scan payment technology to 11 Whole Foods Market stores in Denver. Also, the e-commerce giant will make its Dash Cart shopping carts available in one of these stores with the possibility of self-service on the go. This will be the fourth outlet where such an opportunity is available.

The decision to introduce additional solutions in grocery stores is due to the company’s desire to boost sales of products belonging to the category of perishable goods by increasing traffic.

In the latest earnings report, Amazon CEO Andy Jassi said, stated that the scale of the firm’s presence in grocery stores has not yet been appreciated. He drew particular attention to the fact that the company specializes in packaged products that are suitable for long-term storage. This applies to both paper products and canned goods, as well as personal hygiene items and consumables. Andy Jassi believes that the trading giant is losing ground when it comes to products that are in the greatest demand in grocery stores.

The head of the company talks about Amazon’s small share in the market of perishable products. He noted that this situation can be corrected only by increasing the presence in traditional stores.

Offering checkout with a lower coefficient of friction, such as palm payments and smart carts, according to experts, can be the road to success. Now many buyers are in a difficult situation due to inflation. For this reason, they need new mechanisms to make purchases.

In the United States, earlier this year, a special study found that 17% of consumers continue to be loyal to those sellers with whom they previously interacted. At the same time, 44% of respondents said that when shopping, the key factor for them is the price. Another 38% of consumers said that several features of the purchase procedure are important to them. This means that they pay attention to several factors, for example, simultaneously on the price and convenience of the procedure for purchasing goods.

The stores are currently in a state of fierce competition. To meet the needs of the maximum number of consumers, they need to ensure compliance with several requirements.

As we have reported earlier, Amazon Business App Adds Purchase Reconciliation Tool for B2B Buyers.

Serhii Mikhailov

2138 Posts 0 Comments

Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.