Compared with Amazon, BingoBox has a somewhat lower-tech approach to the market. In Amazon store, when clients go out the door, payment automatically finished via their Amazon payments account. However, the items of BingoBox are not only relying on sensors or cameras to track what users put into their shopping carts. The items of BingoBox are attached with radio-frequency identification (RFID) tags when clients go out the door, they need to scan their items by using the standard self-checkout machine, then make payments via WeChat. Other than the fact that there are no employees around, it’s a really similar experience to using a self-checkout machine at any American grocery store.
According to BingoBox, they use RFID tags tentatively, in the near future, they will adopt new technology to replace RFID technology. Although, a representative from the company doesn’t tell the specific time of the change. The aim of the company is changing with the development of the company, RFID technology will be replaced by the system based on facial recognition or sensors.
Although BingoBox’s growth path is aggressive, it will also likely be in a competitive environment. There are many self-service retailers in China and, unlike Amazon, BingoBox is far from the only player in the unattended retail game. According to reports, it’s found that China’s cashier-less store’s sector attracted 1 billion yuan (about 156 million dollars) in funding in the third quarter of 2017 alone.
For instance, JD.com announced that it plans to cooperate with China Overseas Land & Investment to build hundreds of stores that combine QR codes, facial recognition and RFID to remove checkout. BingoBox has been cashier-free for some time, and its foothold is increasing. It might well be a company to watch.