Week 2 – shopping cart with a smart card reader

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Week 2 – shopping cart with a smart card reader

Product description

The innovative product idea is about shopping cart having an embedded smart card reader. The product will therefore have two distinct aspects; the shopping cart and smart tag which have to be attached on all the products being sold at the store. It will be like the current price tags on the items in the store (Montague, 2006). It will work in such a way that when the customer enters the store and picks a shopping cart and inserts his credit card into the smart card reader which will then activate the cart. As the customer begins to shop and adds items into the cart, the smart card reader will detect them and adds their bill into the digital billing system on the reader. And in case the customer removes any item from the cart, the reader will deduct the total digital bill an amount equivalent to the price of the removed item. After the customer shall have completed their shopping and is just about to the leave the store, the smart card reader will process the bill in the shopping cart and charge the customers’ credit card the total billing. The smart card reader will then print a receipt for the customers for his or her convenient. Lastly, once the credit card is already charge, the customer will only leave the mall or the supermarket and cannot go back, unless they reinsert the credit card for another shopping circle (Morley, & Parker, 2015).

Benefits of our product

  • The product will not only be efficient, but will also ultimately results to impulse buying from the shopping mall and supermarkets.
  • The product will save customers’ time while shopping since it will eliminate queuing for billing service at the counter.
  • The product will eliminate the risks associated with customers leaving with unsorted bills, thus saving the retail shop owners from losses.
  • It will be both efficient and time saving to the supermarket and store owners since they will be able to have detailed analysis of their customers’ bases.
  • The product will enable the store and the supermarket to easily trace and track clients in case of any incidence of fraud.

Consumption/Usage Patterns

The product will mostly be used by the big shopping store with mass inflow of customers which requires speed in billing. However, it is also not limited to other small shops allowing for customers’ self-services. The product will not require any supplementary products for its operation expect the smart tag that will be placed on every products within the shop. No much preparation is required for the product to in place for use, except from being maintained in good condition for efficient (Felke-Morris, 2005).

Competitive advantage

The product will help boosting the level of customer satisfaction owing to its innovative aspects and it is likely spread around very fast and reaches many more target customers who will be yearning to test the products, thus attracting wider base of clients. This will give the big innovative shopping malls and supermarkets such as lulu who would be easily willing to adapt and use the technology a noble competitive edge.

Feasibility Study

According to the previous finding, the main marketplace for the innovation will mostly be shopping outlets such as the supermarkets and big food stores. In addition, the products may also be used in the purchasing of small items for instance in the food serving outlets. No competition will be at the onset of its use since currently the brand is one of its own kinds and will have a variety of target market. Most important, little initial investment would require since it would only require converting the current shopping cart by fixing the smart card reader system and manufacturing of the smart tag for tagging the items sold in the store. It would therefore only cost approximately $15 to manufacture a single reader, and $0.5 for a tag (Felke-Morris, 2005).

 

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