Honour system of paying is working well in some places

A market stall opens a cash register as he works on a fruit and vegetable stall on Watney Market in London, U.K., on Thursday, Nov. 28, 2019. Picture: SIMON DAWSON / BLOOMBERG

So far, theft rates are low, which means these companies have hit on a way to offer a cashier-less experience similar to Amazon.com’s Go technology, but without the big expense of cameras, sensors and software. The space has visible security cameras, as well as mirrors that may subconsciously push visitors to pay because they don’t want to see themselves stealing, though the company says the mirrors are purely for aesthetics.Such a set-up works because “you want to show yourself you’re a good person,” says Kelly Goldsmith, an associate professor of marketing at Vanderbilt University’s Owen Graduate School of Management, describing it as “self-signalling”.

In Japan, Ezaki Glico has also made a business out of selling on the honour system. The company places snacks such as Pocky and Pretz biscuit sticks in drawers, shelves, and sometimes the office fridge. Those who want to indulge simply drop a coin in a container. Glico says it has installed more than 100,000 of these units since 2002 and has a 95% recovery rate on payment.

The Russian company launched the concept last December as a supplement to the grocery stores it has run since 2012 in residential neighbourhoods. Vkusvill, part-owned by private equity investor Michael Calvey’s Baring Vostok Capital Partners, now has more than 160 of the honour-system stations in offices housing companies such as Alibaba Group, Procter & Gamble, Sberbank and SAP.

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