OMAHA, Neb., May 07, 2012 (BUSINESS WIRE) -- Many attendees of this weekend's Berkshire Hathaway annual meeting saw something they'd never seen before: a complete retail store in just 2 sq. ft. of floor space. In contrast to the usual large booths selling products made by Berkshire-owned brands. Richline Group, a Berkshire Hathaway-owned jewelry manufacturer, employed the Vigix vending kiosk to sell commemorative, gold and silver coins, pendants, and money clips. Sales were strong throughout the meeting, achieving an annualized sales per square foot of more than $1,125,000.
You may have used self-checkout stations at grocery stores and supermarkets, do-it-yourself retailers like IKEA, Lowe's and Home Depot, CVS Pharmacy, and even to borrow books from your local public library. Designed to expedite service for shoppers with just a few items, to manage checkout queues with limited staff on hand, or simply to add a self-service option for customers who prefer it, these self-checkout solutions have been around for a decade or more.
Self-checkouts are supposed to save retailers in labor costs, because they do not need a cashier and, theoretically, the customer can do the checking out him or herself. But some retailers are finding that they may be costing more than they save, as incidents of customer theft grow
