Delivery Robots Could Add $1.6 Trillion to the Economy
Editorial Director’s Note: Ian King here. I’m excited to introduce you to the newest member of the Smart Profits team — my brilliant right-hand analyst, Steve Fernandez.
Some of you may know him from my Automatic Fortunes and Crypto Profit Trader services.
His knack for crunching data has been perfect as we hand-pick the ultimate tech trades for you. Now you’ll get to hear from him every Friday in his Chart of the Week under my article.
Read on to see some of his fantastic insights on how delivery robots could add $1.6 trillion to the economy.
I also recorded a quick interview with Steve so you can get a proper introduction and see what he’s bringing to the team. Check out our interview here:
If you’d like to wish Steve a warm welcome, you can reach out to him and the rest of the Smart Profits Daily team at email@example.com.
— Ian King
Those of you who have used a food delivery service can attest to its convenience. But it certainly costs us some money.
Well, not too far in the future, delivery could be saving us money.
And with the rapid growth in electric vehicles and machine learning, this reality could occur sooner than we think.
Considering transportation and labor fees, it currently costs about $1.60 per mile to deliver food via human delivery.
But with autonomous delivery robots, this cost can be cut by 95% to only $0.06 per mile.
(Source: Ark Research)
This undeniable cost reduction would quickly make delivery the smartest option for companies and consumers.
This Tech Can Save You 278 Hours per Year
Currently, some grocery delivery services consist of the shopper picking up food from the store and then delivering the order to its destination.
This means companies are spending money to transport goods to the shop and put them on display, just so you can get them delivered to your home anyway.
By implementing autonomous delivery, goods can be shipped directly to the consumer. That means less retail space is needed, which is more profitable for the company.
But the benefits of autonomous delivery aren’t limited to saving money. This technology will also free up time and keep consumers safer.
Studies show, the average American spends 53 hours per year at the grocery store, plus 225 more hours per year preparing food and cleaning up afterward.
Autonomous food delivery could reduce these numbers to zero. That would save Americans 278 hours per year.
As shown in the chart below, that time savings is worth $1.6 trillion in extra economic activity:
(Source: Ark Research)
Think of this sum as a direct stimulus for the U.S. economy.
And no more sitting in traffic or waiting in line when going to the grocery store or picking up food. Why drive when you can save money, lower your stress and skip the risk of a car accident?
It only makes sense that autonomous delivery will change the dynamic of the food industry, as well as boost U.S. productivity and quality of life over the coming decade.
That’s why Ian King and I are watching it closely in his Automatic Fortunes service.
In fact, Ian recommended one company earlier this year that’s directly benefiting from the surge in food deliveries, and it’s still a buy.
You can read more about the trends on his radar and how to get access to his trades here.
Finally, I just want to say that I’m excited to join the Smart Profits Daily family and I’m looking forward to bringing my analysis to you every Friday.
Research Analyst, Automatic Fortunes