Retail

Grabango ceases operations

Photo: Adobe Stock

October 11, 2024

More than a year after Grabango laid off workers across several departments, the checkout-free retailer has permanently closed down, according to a CNBC report.

"Although the company established itself as a leader in checkout-free technology, it was not able to secure the funding it needed to continue providing service to its clients," a spokesperson said in a statement to CNBC. "The company would like to thank its employees, investors, and clients for all their hard work and dedication," a Grabango spokesperson told the news outlet.

Retailers are increasingly investing in self-checkout technology over automated checkout because self-checkout has proven to be more cost effective.