This Tech Stock Makes Money Every Time You Shop

Nearly 100,000 businesses closed due to COVID-19 this year. Yelp Inc. (NYSE: YELP) reported 60% of its listings permanently shuttered.

Now, with a second wave of COVID-19 underway, businesses will again scramble for ways to avoid becoming a statistic.

The tech stock we have for you today is part of the solution.

We're talking an industry poised for 178% growth. It was valued at $2.8 billion in 2019. But Cision says it could hit $7.8 billion by 2027.

Thing is, you wouldn't know it. You interact with this item almost every day, yet you hardly think about it.

It might even be the most important item in your life right now. Why?

We're talking about a revolution in how shoppers pay for their goods. Shelves and self-checkout systems are getting so smart that, pretty soon, you won't even need to pull anything out of your pocket to leave the store.

Here's why this stock is on the move this holiday and beyond.

Amazon pickup & returns building

Image Source: Unsplash

They Profit Every Time You Pay

COVID-19 has forced brick-and-mortar stores to come up with new, contact-free solutions for shopping. Along with masks and "6 feet apart" stickers on the floor, you may notice more glass dividing you and the cashier.

In some stores, you might notice longer waits at self-checkout. More people are using it. And where there aren't long self-checkout lines, some stores have increased the number of self-checkout kiosks.

Walmart Inc. (NYSE: WMT) began testing a model with fewer manned checkouts and more self-checkouts back in 2018. This year, a Target Corp. (NYSE: TGT) location in Iowa opened a store with five self-checkouts and three traditional ones.

A Target spokesperson said one-third of the chain's customers prefer self-checkouts. Regardless of how you might feel about being your own cashier, that's enough for these retailers.

TalkBusiness.net reported that as many as 80% of U.S. shoppers had used self-checkout in 2018. According to GM Insights, the retail sector accounted for over 40% of self-checkout system market revenue share in 2019.

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