Retail Technologies is providing competitive solutions for brick and mortar retailers to improve efficiency, lower costs, be competitive with online retailers and offer in store mobile first solutions.
Many online retailers use business intelligence for pricing strategies in real time and implement them at will to move product and react to consumer trends. Consumers use smart phones to compare prices at point of decision in the store and often search for best offer, which may include additional features and benefits. Confidence in inventory management has already been proven with RFID. It is now time for the next customer experience phase at the store level by matching the online strategy with store pricing in real time. With integrated digital pricing displays and RFID embedded into the dynamic digital hang tags or smart shelves, prices can be changed wirelessly to every product within seconds. No manual hassles of price tag changes or delays in price change strategies.
Additionally, the products form their own network, so in locations where the in-store network may have blind spots, the tags or smart shelves still communicate and maintain updated information.
The product solutions offer a range of size and thickness, of rugged low-profile devices that can power the digital display and RF communications by either small coin sized batteries, super capacitors, solar, RF harvesting or other energy harvesting methods, not requiring battery. By integrating sensors, we can also track and report the minimal temperature of perishable or otherwise sensitive inventory with applications applying to food storage or medical inventories, monitoring usage, expiration dates, or refill control allocations in mass quantities.
The dynamic hang tags and smart shelves provide item level merchandise price updates, inventory control per item by size, color and type. The digital displays offer a variety of pricing information and can take on any size or shape to reflect pricing, rather it's a single line or multiple lines of pricing info; retailers can have single line current price $999.99; or have original - MSRP price $999.99 and current/sale price $949.99.
Each item is also capable of being queried in order to notify an administrator of what information it is displaying, without having to be physically located for such a reference.
Product inventory in retail stores is constantly changing with trillions of items being shipped, stored and sold nationally. We will provide light weight, reusable devices, with augmented reality, and dynamic, real time pricing updates across the enterprise at the individual product level, offering better inventory controls and an additional loss prevention tool.
Utilizing retailer's existing networks, benefits include lower cost of labor, less shrinkage -minimizing loss of inventory, quicker updates, and better knowledge of available products for order fulfillment both in store and when internet sales requests are made.
Augmented Reality applications allow users to utilize their mobile devices while shopping and visually see information displayed including sizes, prices and store specials. Set up is all a matter of how creative retailers want to be.
Aside from the retail floor, there is a large opportunity to provide solutions to the warehouse and distribution markets, and within the government sector. Impact of these solutions offer better inventory control for large warehouses, remote locations, or groups on the move which need to know status of their inventory products while on the go, especially for perishable items such as food, medicines and chemicals.
The products also serve as the gateway to improved customer experiences for brand identification and specials, or informing customers in fitting rooms of available sizes and colors for the apparel they are trying on. The product applications help to re-image brick-and-mortar stores for the digital age with features and benefits helpful to both retail and grocery stores.