The outbreak of coronavirus pandemic has left the entire world estranged; which leads to drastic changes in customer behaviour. To survive in this current situation, businesses have adapted more diversely to self-service trends, in a way reducing the spread of transmission by maintaining social distancing.
Self-services are being adopted majorly across the world in industries and business units due to their convenience. This trend has made the pandemic situation survivable by offering several benefits from health to business through their outstanding technologies.
What Is Self-Service?
Self-service means offering customers and employees tools and information so they can do their tasks independently and have a better experience with a product or a service. Self-service has become a key component of customer support. There are two main key components of the self-service system: content and delivery.
A self-service portal is a website with many resources which helps users to find related information on their own. This provides functionality and content efficiently without any outside help. Further classified as:
- Employee self-service: This is built specifically for employees, to handle administrative and human resource-related needs on their own.
- Customer self-service: This is designed to help consumers request services, to find information and resolve them.
As the Covid-19 pandemic is making a huge impact on convenience services, where companies have become less interactive, self-service has surged up to make an all-time hit.
The rise of contactless methods
According to a recent report from Zion market research, the global self-service market accounted for USD 15.70 billion in 2015 and is expected to reach USD 37.75 billion by 2021, growing at a CAGR (Compound Annual Growth Rate) of around 15.8 % between 2016 to 2021.
The self-service market as reported was valued at USD 28.01 billion in 2020 and is expected to reach around USD 68.01 billion in 2026, registering a CAGR of 16.43 % between 2021 to 2026.
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According to recent reports, 40% of customers prefer self-service over human interactions. 77% of consumers believe valuing their time with self-service is the best way to provide a good experience.
Self-Service trends to know in 2021
Self-service trends are rising significantly, as technologies are playing a crucial role in keeping society functional during this pandemic. It may have a long-lasting impact in future due to their day-to-day advancements.
- Digital/Online/Mobile Banking/ATM: Within the comfort of your own home, you can make money transactions, reducing your effort to visit the bank frequently.
- Self-check-in and check-out: Online/mobile check-in while boarding flights, checking into your hotels or signing into your office are few use cases of the self-service trend. It’s also the future of retail in self-checkout since customers are fond of contactless payment methods.
- Chatbots: These artificial intelligence-driven chatbots have been hugely beneficial for customers services since they can quickly interact with customers in case there’s no one around.
- Self-service kiosk: These interactive electronic systems increase operational efficiency for customer self-service. It represents the future of many businesses, proving automation in great ways as it is a 100% hands-off solution.
These are evolving to provide self-services in restaurants, office buildings, post offices, banks, department of motor vehicles, airports, healthcare, travel & tourism, entertainment, and retail. Its widespread use during Covid 19 is based on the simple method to disinfect the equipment and practice social distancing.
In conlusion
Self-service can be a great way to offer quick and better services along with user-friendly tools. It’s prime time for businesses to catch up with the trends and implement some method of self-services into daily performance.
If you’re looking for an omnichannel use-case of self-service trends, contact us now and we’ll tell you the solution!