Last week Tegut opened its first cashless shop "Teo" in Fulda, which relies on technology rather than employees. The mini market with only 50 square meters of space offers 950 products and operates 24 hours a day. Instead of using cash, supermarket customers at Tegut-teo pay by credit card or mobile phone. Tegut-teo also uses cameras and 3D-sensors to detect which products customers pick off the shelves, allowing shoppers to pay for a bagful of groceries without the help of a cashier. In the long term, the company plans to open more than 300 shops in Germany. Hessischer Rundfunk asked Prof. Dr. Martin Fassnacht to comment on this store format, and on whether this concept will become more widespread in the future. The interview was aired in the Hessenschau on November 5 (7:30 pm CET). Watch the full interview with Prof. Fassnacht (starting from 21:08) here.
Chair of Strategy and Marketing
Interview with Hessischer Rundfunk
Prof. Dr. Martin Fassnacht featured in the Hessenschau