The 5 “P’s” of an Intelligent Shelf Edge

Today we should be talking about flow not friction – we could call it the retail butterfly effect.

  • Bill Toney, Global Vice President for RIFID and Digital Market, Avery Dennison

 

Avery Dennison’s Flow Over Friction guide examines how advanced technologies such as RFID and the Internet of Things create a new shopping paradigm, the combination of flow of data and flow of experience – to positively influence a customer’s flow of happiness. With their business, brand and human impact, the technologies revolutionize the customer experience. The complete immersion in the here and now has been coined as FLOW by the researchers od positive psychology a long while ago, and the companies should now understand its new dynamics in a connected age.

 

You could call it the intelligent shelf edge or the five “P’s”:

 

  • Perform
  • Plan
  • Price
  • Promote
  • Predict

 

It’s all about using technology to engage the customer through creating a great shopping experience. Two thirds of customers today expect a real time customer service. The impact for the retailer is potentially huge:

 

  • 5 to 10% sales uplift
  • 10% improvement in shrink reduction
  • SKU accuracy level increases from 65% to 99%
  • 9 times more sales with back to front RIFID
  • 90% faster delivery of product

 

And, according to Google, a 30% higher consumer LTV across all the channels.