What makes some online markets so successful? How did they turn the minority (and the logistics, for that matter)? The answer is intelligence.
Thanks to digital technology and an expanded network infrastructure, some online markets know more about the demand chain that is built between brands and consumers than most traditional retailers can understand. They know when customers consider a product with their clicks. They know where the product is located and the fastest way to get it into the hands of customers. They know if a customer liked the product based on the reviews and have a pretty good idea if and when the customer will buy it again. And, in some situations, they even know if a customer has used the product for a while, then sold it to someone else – in an online marketplace.
These online markets have merged the digital marketplace with intelligence from one side to the other, something that traditional retailers — for lack of a similar digital infrastructure — try to replicate. But, that is changing.
It turns out, you do not need to be a tech giant to know exactly when a product leaves the production line, where it is physically located in a brick and mortar store, or when a customer tries, buys and takes it home With The time is even coming when retailers, brands and others along the demand chain can gain knowledge – in real time – of how products of all kinds are transported, maintained, used, consumed, reused and even recycled. Enough digital intelligence, seamlessly and cost-effectively integrated into products, packaging, processes and more. That infrastructure already exists.
Intelligence for the everyday
Intelligence comes in the form of small wireless stickers, digital stickers on clothing, consumer packaged goods, pharmaceuticals, shipping containers – almost everything. If this sounds like the Internet of Things (IoT), it’s because it is, though this IoT is more expansive than the IoT that has been promised and under-delivered for decades. That old-school IoT was more like an Expensive Internet because of the infrastructure it required – RFID tags, landline readers, scanners, and so on. – received large capital investments, not to mention the frequent human intervention by people who actually carried RFID scanners, targeting those products and initiating the kind of demand chain intelligence that must be autonomous.
The new Internet of Things, if you will, made up of trillions of goods (versus the simple billions that pervade old school IoT), has been made possible by zero-cost, mass-produced, digitally available stickers. powerful. —IoT Pixels – plus an infinitely scalable network communication infrastructure.
IoT Pixels speak Bluetooth, now the standard for wireless communication. And, they communicate with a cloud-based sensing platform information such as location, condition and temperature. Selling breakdowns? The new IoT pixels can determine the temperature of each item – or the container in which they are shipped – and transmit information from manufacturers, distributors or retailers to help minimize waste and maximize customer satisfaction. Jeans for sale? The same Pixel IoT can find them in the store, even understand when they are tested, and with the permission of the customer, communicate information about their authenticity, as well as when to wear and when to sell again With
This is a lot of intelligence about everyday products – the kind of intelligence often reserved for big tech companies. So what is the infrastructure needed to collect, process and analyze this intelligence? They are all wireless access points – most of which now include Bluetooth – that retailers and others have spent years installing. (Not to mention all the Bluetooth radios that people carry in their pockets in the form of smartphones).
If you are a retailer who has WiFi installed in their stores so that customers can get more information about the products or check their email, or if you are a healthcare provider who has built WiFi in its facilities to access patient registries or order hospital supplies, or a packaged consumer goods company (CPG) with WiFi in its distribution centers and elsewhere, you have already created the necessary wireless infrastructure – The Internet of Everyday Things – needed to enable Everyday Intelligence.
And, in a post-pandemic world — especially when it comes to retail — this intelligence will prove critical and potentially leveled on the ground. When society got stuck, consumer habits changed. Online retail sales grew 32% year-on-year in 2020 and continued to grow 39% at TM 2021, according to Digital Commerce 360. But with increasing vaccinations, experts such as McKinsey & Company predict more overseas spending – activity at home, especially among young people.
Shopping is fun. Some innovative companies have proven that they can attract customers to attractive, physical spaces. And, there continues to be opportunities for brand-defining retail experiences, but to compete with the Internet, retailers need access to the kind of intelligence their tech colleagues already enjoy — the Intelligence of the everyday, the made possible by the Internet of Everyday Things.
Utilizing an existing wireless communications infrastructure and adopting Smart Pixels, IoT, retailers can thrive, competing with tech-savvy giants (which will also evolve to embrace the Internet of Things) where previously it seemed impossible. Imagine a continuous inventory in real time, or a check-out experience without lines; customers simply leave the store and IoT intelligent Pixels communicate with the wireless infrastructure to complete the sale. Imagine self-ordering products, creating a loyal customer relationship that promotes predictable, repeatable revenue.
All of this is just the tip of the iceberg. When there is intelligence integrated into everything, digital information – secure, private information – is accessible to all. All sellers benefit. So do pharmaceutical companies and health care providers who need to better track medicines, vaccines and supplies.
It is a high vision and requires new thinking from partners along the demand chain. But, it does not require a massive construction of possible network technology. The wireless platform, the Internet of Everyday Things that connects the physical and digital world is already around us.