Drones and the Future of Hobby, Toy, and Game Retailers
Overview
Drones represent a game-changing technology for hobby, toy, and game retailers, with implications for product offerings, competition, and customer experiences. As the drone industry grows rapidly, it is crucial for these retailers to understand and strategically prepare for the shifts this technology brings to the market.
Emerging Drone Industry Trends
The drone industry is experiencing impressive growth. According to Goldman Sachs, the global drone market is expected to reach $100 billion by 2020, fuelled by both consumer and commercial demand. Among this, the consumer drone market alone represented $3.3 billion in 2018, driven primarily by hobbyist drones. A key factor behind this growth is the decline of drone prices, leading to increased affordability and accessibility. Consumer drone prices have shrunk by over 50% in the last 5 years.
Implications for Retailers
The rise of drones presents both opportunities and challenges for hobby, toy, and game retailers. On one hand, they offer an exciting new category of products with high consumer interest. According to Statista, 16.9 million drones were sold worldwide in 2019, a massive increase from 8.5 million in 2015. On the other hand, the surge in drone popularity has spurred intense competition, both from traditional brick-and-mortar stores and online retailers like Amazon.
Shaping Customer Experiences
Drones also have the potential to revolutionize in-store experiences. For example, drones could be used to provide product demonstrations, which not only attracts customers but leads to higher engagement. A survey conducted by Walker Sands shows that 66% of consumers are more likely to shop at a retailer offering drone demonstrations. Moreover, drones can enhance customer service, doing tasks such as guiding shoppers to the desired aisle.
Key Takeaways
- The global drone market is expected to reach $100 billion by 2020.
- The consumer drone market reached $3.3 billion in 2018, driven by the affordability of hobby drones.
- Retailers should be prepared for increased competition due to the popularity of drones.
- Drones can enrich in-store experiences and boost customer engagement.
About 3Laws Robotics
To help retailers leverage the drone trend safely and effectively, 3Laws Robotics offers innovative software solutions for robotic systems. Our primary focus is on addressing the challenge of certification—a significant pain point for robotics companies.
Our software, 3Laws Supervisor, simplifies this process by offering robust safety features and evidence of system robustness, thereby easing the certification path. This the innovative software is built on Control Barrier Functions (CBFs)—a technology developed at Caltech providing mathematically provable safety.
3Laws Robotics' technology spans diverse use-cases, including warehouse automation, human-robot interaction, and dynamic environments. We have proven successes, such as assisting an autonomous forklift customer achieve a 40% efficiency gain, leading to a significant 6-month payback period.
Another essential competency of 3Laws Robotics is enhancing operational efficiency by minimizing downtime caused by unnecessary e-stops or collisions. Our software provides real-time guardrails for autonomy stacks, enabling drones and other robots to operate at their peak capabilities safely.
3Laws aims to be a safety solution that goes beyond traditional e-stop methods. By offering a dynamic, predictive safety approach, we unlock the full potential of robotics for our clients.