Cellular connectivity has become a very popular option for POS terminals and was incorporated in 52 percent of the devices shipped in 2023. The wireless technology has an important role in facilitating the global adoption of electronic payments, as it enables the rollout of POS terminals to many new market segments and parts of the world where the fixed line telecommunications infrastructure is less developed.

The installed base of cellular POS terminals reached 137.8 million in 2023.

Berg Insight forecasts a CAGR of 8.2 percent between 2023 and 2027, resulting in a total of 188.9 million cellular POS terminals at the end of the forecast period.

Berg Insight projects at the same time that the global installed base of NFC-ready POS terminals will grow at a compound annual growth rate (CAGR) of 7.8 percent from 235.1 million units in 2023 to 317.9 million units in 2027. As a result, more than 95 percent of the world’s POS terminals will be NFC-ready in 2027, up from 85 percent in 2023.

Johan Fagerberg, Principal Analyst at Berg Insight, said:

“The Android POS terminal category has become very popular lately. About a third of the POS terminals sold in 2023 were Android POS terminals.”

The mPOS terminal market is growing at about the same rate as the traditional POS terminal segment. mPOS is the use of consumer-oriented mobile devices such as tablets and smartphones that function as a point-of-sale terminal to facilitate payment card transactions through a connection to a card-accepting reader. The global installed base of mPOS terminals totalled an estimated 109.9 million units in 2023. The installed base of NFC-ready mPOS terminals grew to 79.1 million units during the same year as NFC penetration reached 72 percent worldwide. Berg Insight projects that the installed base of NFC-ready mPOS terminals will grow at a CAGR of 12.3 percent between 2023 and 2027 to reach 125.9 million units worldwide. This corresponds to a penetration rate of 88 percent in 2027.

“Today, the mPOS device segment has also started to face competition from SoftPOS solutions. SoftPOS technology allows businesses to accept payments via a standard iOS or Android device”, concluded Mr. Fagerberg.

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According to a new research report from the IoT analyst firm Berg Insight, the global installed base of connected vending machines reached an estimated 5.8 million units in 2022.

North America represents the largest share of these machines, closely followed by the Rest of the World markets. Both are estimated to have installed bases of around 2.1 million each.

In Europe, the installed base of connected vending machines is estimated to have reached around 1.5 million units. Berg Insight forecasts that the number of connected vending machines worldwide will grow at a compound annual growth rate (CAGR) of 16.4 percent to reach 12.3 million units by 2027. As a result, the global penetration rate will reach 75.7 percent at the end of the forecast period.

The global connected vending solution market is served by a variety of players. Many of the leading providers are specialised technology companies offering connected vending telemetry and cashless payment solutions. US-based Cantaloupe is established as the clear leader in terms of installed base with more than 900,000 connected vending machines, mainly in North America.

Other leading technology suppliers include Crane Payment Innovations, Nayax, Ingenico and Televend (INTIS). The latter has continued to show significant growth and is clearly established as a top player on the European market. MatiPay, Vianet Group and Vendon are additional examples of technology players with relatively significant installed bases in Europe. In China, InHand networks holds a prominent position and is estimated to have installed its solutions in close to 300,000 vending machines by the end of 2022.

“The number of connected vending machines continues to grow and has now reached very high levels, particularly in North America”, said Felix Linderum, IoT Analyst at Berg Insight.

In Europe and the Rest of the World markets penetration levels are still modest but growing. Overall, cashless payments continue to be the main driver for adding connectivity in vending machines.

“This development was further reinforced by the Covid-19 pandemic”, continued Mr. Linderum.

He adds that because of the pandemic, there has been an accelerated adoption of cashless and contactless payments as users seek versatility, convenience and safety to a larger extent than before. Outside of North America and Europe, the main driver for growth is the growing installed base of connected vending machines in China. While stringent lockdowns enforced during the Covid-19 pandemic led to a slowdown in the country, there has been a noteworthy surge in the number of vending machines in China over the past few years. Berg Insight anticipates that the country is poised to emerge as a key player in the connected vending space.

Mr. Linderum concluded:

“Mobile payments and remote management of multimedia content are basically standard on the vending machines in China. Facial recognition technology is also a growing trend and enables pay-with-your-face functionality.”

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The landscape of payments is rapidly evolving, driven by the Internet of Things (IoT) and its profound impact on how we conduct transactions. The era of smart payments has arrived, bringing innovative solutions that enhance convenience, security, and efficiency. In this article, we will explore the role of IoT in smart payments, its applications, benefits, challenges, and the future of this transformative technology.

The Intersection of IoT and Payments

Smart payments represent a significant shift in the way we handle financial transactions, offering seamless and secure payment methods that leverage IoT technologies. IoT is all about interconnected devices, sensors, and systems, and when applied to payments, it opens the door to a range of possibilities.

Key Applications of IoT in Smart Payments

1. Contactless Payments

IoT-enabled devices, such as contactless payment cards, wearables, and mobile apps, allow users to make payments by simply tapping or holding their device near a point-of-sale (POS) terminal. This technology is not only convenient but also reduces physical contact, which has become more important in the context of public health.

2. IoT in Retail

In retail, IoT is enhancing the payment experience through features like smart kiosks and automated checkout. Customers can scan items and make payments without going through a traditional checkout process, streamlining the shopping experience.

3. Mobile Wallets

Mobile payment wallets like Apple Pay, Google Pay, and Samsung Pay use IoT technology to enable secure, contactless payments using smartphones or smartwatches. These wallets are widely accepted by retailers and provide users with a digital representation of their payment cards.

4. IoT in Transportation

IoT is revolutionizing the way we pay for transportation services. Smart cards and mobile apps allow commuters to pay for public transportation, parking, and tolls seamlessly, while IoT sensors monitor traffic and manage congestion.

5. Wearable Payments

Wearable devices equipped with payment technology, such as smartwatches and fitness trackers, enable users to make payments without the need for physical cards or cash. These wearables offer a convenient and secure payment method.

6. Internet-Connected Appliances

Smart appliances and devices in the home can be connected to payment services, enabling automatic reordering of household supplies when items are running low. For example, a smart refrigerator can place an order for groceries when specific items are depleted.

7. IoT in Healthcare

The healthcare sector is using IoT for patient billing and insurance claims. IoT devices and sensors are used to monitor patient health, and payment transactions can be initiated automatically based on the care provided.

Benefits of IoT in Smart Payments

The integration of IoT in smart payments offers numerous advantages:

1. Convenience

IoT-enabled payment methods, such as contactless and mobile payments, are highly convenient, saving time and reducing the need for physical payment cards or cash.

2. Security

IoT payments often employ strong security measures, including encryption and tokenization, to protect financial data. The use of biometric authentication, such as fingerprint or facial recognition, further enhances security.

3. Efficiency

Smart payments streamline the payment process, reducing wait times and making transactions more efficient. This is particularly valuable in high-traffic retail settings.

4. Contactless Transactions

Contactless payments minimize physical contact between individuals and surfaces, a feature that has become especially relevant in times of public health concern.

5. Real-Time Transaction Tracking

IoT provides real-time transaction tracking and notification, ensuring users are immediately informed about any payment activities on their accounts.

6. Enhanced Personalization

IoT enables personalized offers, rewards, and discounts based on user behavior and preferences, making the payment experience more tailored.

Challenges and Considerations

While IoT in smart payments offers numerous benefits, it also poses challenges and considerations:

1. Data Security

The collection and transmission of sensitive payment data raise concerns about data security. Robust security measures must be in place to protect financial information.

2. Privacy

Users’ personal data must be treated with care, and consent for data collection and usage must be clearly established.

3. Standardization

IoT devices and systems must be compatible and standardized to ensure seamless data exchange and integration. Common protocols and standards are essential for achieving this.

4. Regulatory Compliance

IoT payment systems must adhere to regulatory requirements, particularly regarding data protection and financial transactions.

5. Adoption and Trust

The adoption of smart payment methods may require user education and a cultural shift in how people think about traditional payment methods.

The Future of IoT in Smart Payments

As technology continues to advance, the future of IoT in smart payments looks promising. Here are some trends and developments to watch for:

1. Enhanced Biometrics

The use of biometrics, such as fingerprint and facial recognition, for authentication and authorization will become more widespread, improving security and convenience.

2. Cross-Device Payments

IoT will enable payments to seamlessly move across devices. For example, a user may initiate a payment on a smartwatch and complete it on a smartphone or vice versa.

3. Voice-Activated Payments

Voice assistants like Alexa and Google Assistant will support voice-activated payments, making it easier for users to complete transactions using only their voice commands.

4. Digital Currencies

IoT will play a significant role in the adoption of digital currencies and central bank digital currencies (CBDCs), which can streamline international transactions and reduce currency conversion costs.

5. Augmented Reality (AR)

AR will enhance the in-store shopping experience, allowing users to virtually try on products and make purchases through immersive, interactive interfaces.

Conclusion

The Internet of Things is driving the evolution of smart payments, offering enhanced convenience, security, and efficiency. Challenges related to data security, privacy, and adoption must be addressed to ensure that the benefits of IoT in smart payments are fully realized.

As IoT technology continues to advance, it will remain a driving force in smart payments, offering a glimpse into a future where payment transactions are seamless, secure, and tailored to individual preferences, significantly transforming the way we handle our finances and make purchases.

The post Transforming Transactions: The Internet of Things (IoT) in Smart Payments appeared first on IoT Business News.

The retail industry has been undergoing a profound transformation with the advent of the Internet of Things (IoT). IoT is not just a buzzword; it’s a game-changer, offering retailers the ability to enhance the shopping experience, streamline operations, and gather valuable insights into customer behavior. In this article, we’ll explore how IoT is shaping the world of smart retail, its key applications, benefits, and the promising future it holds.

The Rise of IoT in Retail

Smart retail, powered by IoT, is about leveraging technology to create a seamless shopping experience that caters to the preferences and demands of today’s tech-savvy consumers. The retail industry is fiercely competitive, and retailers are turning to IoT to differentiate themselves and stay relevant.

Key Applications of IoT in Smart Retail

1. Inventory Management

IoT devices, such as RFID tags and sensors, can be placed on products and store shelves to monitor inventory in real-time. Retailers can receive alerts when stock is running low, prevent overstocking, and even track the location of products within the store.

2. Customer Tracking and Analytics

Retailers can use IoT to track customer movement within the store. Wi-Fi and Bluetooth beacons, for example, can detect customers’ smartphones, enabling retailers to gather data on foot traffic, popular shopping paths, and the amount of time customers spend in various sections of the store.

3. Personalized Marketing

IoT enables retailers to send personalized offers and promotions to customers based on their location and previous purchase history. This can be done through mobile apps or digital signage in the store.

4. Smart Shelves

Smart shelves equipped with IoT technology can automatically detect when a product is running low or approaching its expiration date. This information can be used to trigger restocking and reduce wastage.

5. Automated Checkout

Retailers are exploring cashierless checkout options using IoT and computer vision technology. Customers can simply pick up items and walk out of the store, with the IoT system automatically charging their accounts.

6. Supply Chain Optimization

IoT provides real-time tracking of products throughout the supply chain. Retailers can monitor the location and condition of products in transit, helping to ensure products arrive on time and in good condition.

7. Energy Efficiency

IoT systems can control lighting, heating, and cooling in the store based on occupancy and environmental conditions. This reduces energy consumption and costs.

Benefits of IoT in Smart Retail

The integration of IoT in smart retail offers numerous advantages:

1. Enhanced Customer Experience

IoT technologies can provide a more personalized and convenient shopping experience. Customers receive tailored recommendations, can find products more easily, and enjoy seamless checkout processes.

2. Inventory Accuracy

Real-time inventory tracking ensures that products are available when customers want them, reducing the risk of stockouts and overstocking.

3. Improved Operational Efficiency

Retailers can streamline store operations, from restocking to energy management, resulting in cost savings and reduced waste.

4. Data-Driven Decision Making

IoT provides retailers with valuable data on customer behavior, allowing them to make data-driven decisions regarding store layout, product placement, and marketing strategies.

5. Competitive Advantage

Retailers that embrace IoT gain a competitive edge by providing a more advanced and convenient shopping experience.

6. Enhanced Security

IoT systems can improve security by monitoring the store environment, helping to prevent theft and accidents.

Challenges and Considerations

While IoT in smart retail offers numerous benefits, it also poses challenges and considerations:

1. Data Security and Privacy

Collecting data on customer behavior raises concerns about data security and privacy. Retailers must ensure that customer data is protected and used responsibly.

2. Cost of Implementation

The initial cost of implementing IoT technology can be a barrier for some retailers, particularly smaller businesses. An assessment of the return on investment is necessary to justify the expense.

3. Standardization

IoT devices and systems must be compatible and standardized to ensure seamless data exchange and integration. Common protocols and standards are essential for achieving this.

4. Workforce Training

The successful adoption of IoT in smart retail often requires workforce training and a cultural shift within the organization.

The Future of IoT in Smart Retail

As technology continues to advance, the future of IoT in smart retail looks promising. Here are some trends and developments to watch for:

1. Enhanced Customer Insights

Retailers will leverage AI and machine learning to gain deeper insights into customer behavior, preferences, and shopping patterns.

2. Augmented Reality (AR) and Virtual Reality (VR)

AR and VR will play a more significant role in the shopping experience. Customers can use these technologies to visualize products in their homes before making a purchase.

3. Contactless Shopping

Contactless shopping options, including autonomous stores and drone deliveries, will become more common, reducing the need for in-person interaction.

4. Sustainability

Retailers will use IoT to monitor and reduce their environmental footprint. Sustainable practices, such as reducing energy consumption and minimizing waste, will gain traction.

5. Ethical Use of Data

Retailers will focus on the ethical use of customer data, providing transparency in data collection and usage to build and maintain trust.

Conclusion

The Internet of Things is revolutionizing smart retail by offering a more personalized and efficient shopping experience. Challenges related to data security, cost of implementation, and workforce training must be addressed to ensure that the benefits of IoT in smart retail are fully realized.

As IoT technology continues to evolve, it will remain a driving force in smart retail, offering a glimpse into a future where technology and data are seamlessly integrated into the shopping experience, enhancing customer satisfaction, operational efficiency, and sustainability in the retail industry.

The post Revolutionizing Retail: The Internet of Things (IoT) in Smart Retail appeared first on IoT Business News.

UnaBiz Equips TotalEnergies Service Station Stores with 3,000 Temperature Sensors to Enhance Food Safety.

TotalEnergies signs agreement with UnaBiz, Massive IoT service provider and integrator, to equip motorway service station stores with sensors to monitor the temperature control of refrigeration units.

Today, more than 160 motorway service stations in the TotalEnergies network are equipped with around 3,000 refrigeration temperature sensors powered by Sigfox 0G technology.

The digital cold chain monitoring solution provided by UnaBiz empowers TotalEnergies to bolster its sanitary control plans and adhere to Hazard Analysis Critical Control Points (HACCP¹) principles, bringing food security to the food service industry.

Powered by Sigfox 0G technology, the sensor solution provided by UnaBiz France automatically records temperature readings in the refrigerated units, ensuring compliance with health standards in the stores and restaurants of TotalEnergies service stations. As the sensors transmit information wirelessly from the refrigeration units to the customers’ system, the TotalEnergies team access the consolidated temperature and stock data, as well as product use-by dates easily via a computer and tablet.

UnaBiz France takes the lead in providing all essential components for deploying and operating the system. This comprehensive support encompasses equipment availability, logistics, installation, and access to a user-friendly app designed for station managers.

For the TotalEnergies teams, who previously took temperature readings manually several times a day, this real-time monitoring solution brings about substantial time-savings.

The implemented solution serves as an analysis tool, ensuring product traceability and data accuracy. It anticipates breakdowns, prioritizing food safety, and product/service quality at TotalEnergies’ network stations.

In addition to enhancing food safety, this solution aids in energy conservation by preventing unnecessary energy costs associated with improperly regulated storage temperatures.

Bolstered by these benefits, this 3-year partnership is currently being extended to other TotalEnergies service stations in Europe and Africa.

Arnaud Tayac, General Manager of UnaBiz France says:

“UnaBiz is proud to play a key role in this initiative, providing essential components and expertise for the deployment and maintenance of the system. Our partnership with TotalEnergies is a concrete example of how Sigfox 0G technology can be used to optimize operational processes.”

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In the bustling world of retail, managing stock effectively is not merely an operational need but the lifeblood of business success. Having a holistic view of all assets is critical for any business that relies heavily on its stock and equipment for generating revenue, such as retail stores. Whether a physical brick-and-mortar clothing shop or an online e-commerce store, it’s important for retailers to have greater visibility of their assets. With data from Techtivity reporting that the retail industry witnessed a staggering loss of $300 billion in revenue due to poor inventory management in 2019, the vital role of effective asset management in the retail sector is clearly established. One key component of this essential process is asset tracking, a practice that holds immense potential to revolutionise how retailers manage their inventory.

Understanding Retail Asset Tracking and IoT Technologies

Asset tracking is a method used to monitor the location, quantity, and status of assets, which, in a retail context, typically refers to the products being sold. The tracking process involves knowing when items will arrive from suppliers, how many items are in store, and using this data to make informed decisions about what and when to order. Retail businesses need to track products while also keeping their pricing strategy in mind.

With the steady digital transformation of retail, it’s projected that by 2031, an immense 57% of global retail sales will stem from online shopping. This trend underscores the urgency for the retail industry to optimise the customer journey from initial interaction to final purchase, a feat achievable through effective retail asset tracking solutions.

Leveraging cutting-edge IoT technology, such as RFID, and retail Asset Tracking Software, retailers can monitor an asset’s entire life cycle. The primary aim is to amplify the customer experience, but the benefits don’t stop there. Asset tracking enhances stock control, mitigates the risk of lost and stolen assets through asset tagging — a key strategy in combating ‘shrinkage’ — and heightens the precision of inventory management. The outcome is a reduction in labour demands and an elevation in product availability. Collectively, these factors emphasise how retail asset tracking tools are a judicious approach to trimming costs and bolstering profits.

The Importance of Asset Tracking in Retail

According to a report by the IHL Group, global retailers lose nearly $1.75 trillion annually due to overstocks, out-of-stocks, and returns. These issues are largely preventable with an efficient asset tracking system. An asset tracking system enables real-time visibility into the inventory and stock levels and availability, reducing the likelihood of stock-outs and overstocks. It allows retailers to anticipate demand, adjust orders accordingly, and ensure the right products are always available at the right time.

Moreover, it provides valuable data for analysis and decision-making. Retailers can identify sales trends, optimise product placement, and make informed purchasing decisions. In a study by McKinsey, companies that leveraged data-driven insights saw up to a 23% increase in revenues and a 19% reduction in costs.

Asset tracking systems also play a pivotal role in enhancing the omnichannel retail experience, delivering a seamless transition from brick-and-mortar stores to online platforms. With real-time tracking, these systems ensure that stock levels are consistently updated across all channels, providing customers with accurate inventory information whether they’re browsing in-store or online. When a customer orders a product online, the system instantly reflects the reduced stock level, preventing overselling and maintaining inventory accuracy. Moreover, these systems facilitate the increasingly popular “Buy Online, Pick Up In-Store” (BOPIS) model. Once an online order is placed, the system can pinpoint the exact location of the item in the store or warehouse, enabling quick and efficient order preparation. Thus, asset tracking systems streamline the retail process, making it convenient for both the retailer and the customer, enhancing the overall retail experience.

The Core Benefits Asset Tracking Technologies Will Bring to Retail Businesses

Improved Inventory Management Resulting In Lower Unnecessary Costs

One of the foremost benefits of implementing asset tracking solutions in retail is the enhancement of inventory management. A study revealed that out-of-stock situations alone, exacerbated by poor inventory management, cost retailers approximately $634.1 billion in lost sales annually. Asset tracking technology can prevent such losses by providing real-time visibility of inventory, ensuring accurate stock levels, and preventing overstocking or understocking scenarios.

By using technologies such as RFID and IoT devices, retailers can monitor the real-time location and status of their inventory items. This facilitates quicker restocking of popular items, thereby reducing instances of stockouts, and consequently improving customer satisfaction. Moreover, it also prevents excessive investment in slow-moving items, thus optimising the use of warehouse or shop floor space and capital.

Improved Customer Experience Through Fulfilling Available to Promise and Better Delivery Times

Retailers today operate across multiple channels, such as online stores, mobile apps, customer service, and buy-online-pick-up-in-store scenarios. In this context, real-time inventory visibility becomes crucial. Any discrepancies in inventory data could lead to delayed shipping times and, consequently, cancelled orders, resulting in a poor customer experience. Real-time inventory visibility refers to presenting ‘Available to Promise’ (ATP) inventory across the retailer’s supply network to all order capture channels. ATP represents the stock a retailer can promise to the customer and takes into account the total supply from all fulfilment locations and the total demand from various channels, factoring in safety stock and capacities.

The key benefits of real-time inventory visibility include improved customer satisfaction, better response times, and improved performance metrics. Most top retailers are adopting real-time inventory visibility to enhance the customer experience and improve brand loyalty.

Enhanced Loss Protection for Inventory

Asset tracking solutions also play a vital role in reducing shrinkage, a significant problem in the retail industry. According to the National Retail Federation, inventory shrinkage accounted for 1.62% of sales in 2019, equating to almost $61.7 billion. Asset tracking can help mitigate these losses by providing comprehensive visibility and control over assets.

Innovative tracking technologies like NFC (Near Field Communication) tags have the capacity to identify unauthorised relocation of inventory, immediately notifying store personnel of potential thefts. Additionally, the deployment of this technology can act as a deterrent for potential thieves, leading to a further decrease in shrinkage. As a result, by reducing losses, retailers can boost their profitability and positively impact their bottom line.

Streamlined Supply Chain

By providing real-time visibility, asset tracking solutions can streamline the entire supply chain, from the warehouse to the store shelf. This can result in significant time and cost savings. According to a report by Zebra Technologies, 72% of retailers plan to reinvent their supply chain with real-time visibility enabled by automation, sensors, and analytics.

With asset tracking, retailers can monitor the progress of goods throughout the supply chain, identify bottlenecks, and implement corrective measures promptly. This can reduce delivery times, enhance supply chain reliability, and result in better customer satisfaction.

Summary

In conclusion, the benefits of utilising asset tracking solutions in retail are manifold. By improving inventory management, reducing losses, optimising asset utilisation, streamlining the supply chain, and enhancing the customer experience, these technologies can help retailers achieve higher levels of efficiency and profitability. As retail businesses continue to navigate an increasingly complex and competitive landscape, the adoption of asset tracking solutions will undoubtedly be a critical factor in their success.

The post Sustaining the Pulse of Retail: Maximising Business Success Through Asset Tracking and IoT Technologies appeared first on IoT Business News.

Over the past years, IoT adoption has become a more common practice across the retail industry, and the trend is gaining momentum today. According to Allied Market Research, the global retail IoT market is expected to reach $177.90 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.

One of the reasons for IoT growth is that the technology helps retailers gather and access valuable data, which is required for more intelligent and effective decision-making. Moreover, by developing IoT solutions for retail, enterprises can leverage automation, optimize business performance, and enhance customer experience, increasing competitiveness.

This article covers the concept of IoT in retail and highlights seven technology use cases.

The top use cases for IoT in retail

Here are several examples of how to use IoT technology for retail operations.

1. Automated checkout

Checkout has always been one of the most time-consuming processes for store employees and customers. Sometimes, the customer can even leave a store to avoid wasting time in a long queue.

IoT allows retailers to speed up and simplify checkout by bringing advanced automation capabilities. For example, a retailer can implement an IoT-powered system that scans products’ RFID tags and automatically collects payments via customers’ mobile apps when they leave the store.

A retailer can achieve several business benefits when adopting an automated checkout solution. For instance, by eliminating the need to stand in lines, a retailer can improve the customer experience and thus stand out from the competition.

Among other things, by implementing IoT, a retailer can reduce staff costs while enhancing employee productivity. After all, store employees are no longer required to spend time on routine checkout activities. Instead, they can focus on more essential tasks like customer engagement and retention.

2. Product layout optimization

The layout is one of the critical factors that determine whether customers will purchase a particular product or not. As IoT allows retailers to optimize product layout and placement, the technology can be extremely valuable for increasing sales.

For example, a retailer can implement IoT sensors that collect information about customer behavior in specific store departments or product areas and monitor how consumers react to a particular product layout. Later, this information can be used for layout optimization.

This way, using IoT, a retailer can sell more products from particular brands and manufacturers or increase sales of products with a limited expiration date. In addition, an optimized product layout can help a retailer increase the average check size, thus improving overall business profitability.

3. Inventory management

Inefficient inventory management can lead to understocking and overstocking, which are bad for a retail business. Without enough inventory, a retailer cannot meet the demand, reducing customer satisfaction. On the other hand, if a retailer has excess inventory, the operating costs can increase, negatively affecting retail business profitability.
Fortunately, retailers can mitigate these risks by adopting IoT for inventory management. As an option, a retailer may tag inventory with RFID tags, each containing a unique identifier (UID). With these tags, retailers can track any item remotely, which helps speed up and simplify inventory audits.

Additionally, the technology allows transferring the inventory data automatically to local or cloud storage and, if necessary, updating it in real-time. Such data centralization also simplifies inventory audits, reducing human factors and enhancing service quality.

4. Retail facility management

Ensuring effective facility management is one of the most demanding responsibilities for any retail business, and IoT can come in handy. First, retailers can use IoT sensors to monitor the condition and health of their facilities and equipment.

For example, these sensors can track humidity, temperature, and occupancy parameters. An IoT-powered system can automatically alert human specialists if these parameters deviate from the norm.

In addition, retailers can use IoT to reduce operating costs through more intelligent resource allocation. In particular, a retailer can implement a smart lighting network. The latter can operate at increased power during peak periods and automatically turn off when no customers are in the store, reducing energy consumption.

5. HR management

Customer satisfaction is highly dependent on service quality, which, in turn, hinges on human resources, making HRM critical to the success of a retail business. The good news is that IoT can help retailers transform their HR management by making it more efficient and intelligent.

For example, a retailer can establish a network of wearables that would collect employee data and provide it to HR managers. Using wearables data, HR managers can track employee health, performance, stress, and well-being to manage and allocate human resources more efficiently.

6. Product usage monitoring

Even when a customer has already purchased a product, a retailer can continue tracking the item with IoT. First, by analyzing IoT data, the retailer can alert customers in advance when their product requires maintenance. In addition, the retailer can collect product usage data and then utilize it for marketing purposes.

7. Marketing

Marketing is another aspect of the retail business that can benefit from IoT. For example, sensors and other connected devices can collect consumer data, helping retailers better understand customer preferences and needs. Based on this data, retailers can offer more personalized programs and discounts or provide more targeted advertising.

Final thoughts

The Internet of Things technology is no stranger to the retail industry. Moreover, the adoption of IoT in retail has been on the rise in recent years.

One of the reasons for such IoT popularity is that the technology provides retailers with valuable data, leading to more effective decision-making. In addition, IoT technology helps transform multiple aspects of retail, making businesses more productive and competitive.

For example, retailers can implement IoT to streamline inventory management, facility management, HRM, and marketing operations. Additionally, IoT can help retailers establish automated checkout and remote product usage monitoring.

The post 7 practical applications of IoT in retail appeared first on IoT Business News.

High-bandwidth 5G connectivity is a plug-and-play solution for retail and restaurant applications.

KORE, the global pure-play Internet of Things (“IoT”) hyperscaler, and provider of IoT Connectivity, Solutions and Analytics, has announced the launch of its new vertical offering in retail solutions.

The retail industry is rapidly undergoing a digital transformation, and KORE has aligned its portfolio to offer high-bandwidth solutions to meet these needs.

The KORE Retail solution includes high bandwidth 5G cellular connectivity through fixed wireless access (FWA) to provide high-speed internet access traditionally available through wireline solutions. As many new retail applications rely on higher data volume and speed, a 5G network can offer greater bandwidth to support these new and evolving applications.

“Digital transformation is rapidly picking up steam across retail and restaurant chains, and we are seeing some interesting applications within this segment,” KORE President and CEO Romil Bahl said.

“Moving entirely to cellular connectivity or leveraging cellular as a failover technology is not easy. KORE has worked hard to make it simple to adopt through our fixed wireless access solutions.”

Retailers and restaurants, in particular, are seeing the benefits of adding 5G solutions on-site, because this high-bandwidth connectivity supports the segment’s growing digital needs beyond point-of-sales devices, including connected tablets, digital ordering, third-party integrations with delivery services, video analytics and many other connected technologies to streamline operations and eliminate the wired/wireless divide. Adding best-in-class 5G technology and connectivity, however, can be challenging, especially when addressing the different carrier needs in locations across the country.

With this new pre-configured solution, KORE is providing high bandwidth digital transformation enablement to a national restaurant chain. KORE is leveraging Cradlepoint Netcloud with 5G wireless edge solutions as this restaurant chain moves to modernize its connectivity by leveraging 5G cellular across its hundreds of U.S. locations.

Without utilizing KORE as a connectivity provider, this restaurant chain would have had to individually source cellular connectivity based on location. KORE is able to provide a singular approach to multi-carrier connectivity and also provide this customer with a connectivity management platform to control and monitor its usage and billing in a unified approach. KORE is also providing onboarding via its customer success department and 24/7 support throughout the implementation of the solution, making the deployment simple, seamless and decreasing time to market.

The post KORE Announces Retail Offering with Fixed Wireless Access appeared first on IoT Business News.

According to a new research report from IoT analyst firm Berg Insight, the market for NFC-ready POS terminals continued to show strong momentum in 2021 with annual shipments reaching an estimated 75.3 million units worldwide.

The attach rate for NFC was highest in EU27+3 and North America, where 98 percent of the POS terminals shipped featured NFC. NFC was also a very popular feature in many other major markets worldwide, including Brazil, Turkey and China. On a global basis, about 80 percent of the POS terminals shipped in 2021 included NFC.

Berg Insight projects the global installed base of NFC-ready POS terminals will grow at a compound annual growth rate (CAGR) of 11.6 percent from 168..7 million units in 2021 to 291.9 million units in 2026. As a result, more than 93 percent of the world’s POS terminals will be NFC-ready in 2026, up from 73 percent in 2021.

“The mPOS terminal market is growing at about the same rate as the traditional POS terminal segment and there are more than 70 vendors active on the global market today”, said Johan Fagerberg, Principal Analyst at Berg Insight.

mPOS is the use of consumer-oriented mobile devices such as tablets and smartphones that function as a point-of-sale terminal to facilitate payment card transactions through a connection to a card-accepting reader. The attach rate for NFC in the mPOS segment was 72 percent in 2021 as NFC-ready mPOS terminal shipments reached 29.4 million units. Berg Insight forecasts that global shipments of NFC-ready mPOS terminals will grow at a compound annual growth rate (CAGR) of 11.2 percent in the next five years to reach 50.1 million units by 2026.

Mr Fagerberg concludes:

“The growth is driven by the increase in mPOS terminal shipments from 40.9 million units in 2021 to 53.0 million units in 2026, as well as by a growth in the attach rate from 72 percent to 95 percent.”

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Atmosic’s wireless technology minimizes battery consumption and maintenance costs in connected devices.

Today Atmosic Technologies, an innovator in energy harvesting wireless platforms for the Internet of Things (IoT), and ETAG Tech, an leader in ultra-low power and high-performance electronic shelf labels (ESLs), today announced a partnership to bring Atmosic’s ultra-low power wireless solutions to ETAG Tech’s ESL portfolio.

ETAG Tech is using Atmosic’s ATM2 system-on-chips (SoCs) for several ESL designs and will be incorporating Atmosic’s ATM3 SoC in future designs to take advantage of energy harvesting technology.

David Su, CEO of Atmosic, said:
“By helping to solve the battery problems associated with electronic displays, we anticipate that ESLs will see much wider adoption across the retail industry and other sectors. Not only does Atmosic’s technology cut down on the cost of replacing batteries, but it also reduces the maintenance time needed for fleets of ESL display deployments.”

ETAG Tech selected Atmosic’s ATM2 series over a proprietary implementation since Atmosic’s solutions have best-in-class power savings. The ATM2 series is Bluetooth 5 standard-compliant and integrates Atmosic’s Lowest Power Radio technology to reduce power consumption low enough for ESLs and other connected devices to last years on a single battery, without needing replacement. ETAG Tech is also looking at deploying the ATM3 series in its next generation of ESL designs to take advantage of Atmosic’s Controlled Energy Harvesting technology, which can harvest energy from ambient light. The same SoC can also harness from other sources including radio, mechanical/kinetic motion, and even thermal sources to further reduce battery consumption. In some cases, Atmosic’s ATM3 series can enable devices to operate without any batteries at all.

Mr. Xia, CEO of ETAG Tech, said:

“Atmosic’s ultra-low power ATM2 SoC solution makes ESL products more robust in terms of interactivity and speed, in addition to removing the need for battery replacement. Atmosic’s technology is also easy to integrate into a range of ESL sizes and designs.”

Today ESLs are most popular in retail environments, but there are many industries where ESLs are useful including healthcare, manufacturing, enterprises, travel, and more. ESLs allow companies to update information in real-time and better manage inventory, without the hassle of constantly replacing paper signage and stickers. ESLs are also much cost-effective than LCDs and tablets, making ESLs ideal for environments where hundreds or even thousands might be on display in a store or other environment.

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SmartHub delivers actionable intelligence to improve both security and sales.

Sequans Communications S.A., leading provider of cellular IoT chips and modules, and FlorLink, IoT technology and solutions provider, collaborated on FlorLink’s new SmartHub retail solution, which is now connected to the cloud by Sequans Monarch cellular IoT connectivity technology.

SmartHub includes a large suite of sensors that can monitor multiple sales floor conditions and send customized notifications to sales floor associates on their mobile devices, thereby instantly improving security and increasing sales opportunities.

“The FlorLink SmartHub is well-designed and delivers on its promise to streamline retail operations,” said Louis Chuang, VP of Sequans’ massive IoT business unit.

“We are very pleased to work with the FlorLink team integrating our Monarch technology into their new SmartHub that is destined to become a very important and valuable retail IoT solution.”

FlorLink’s SmartHub is designed to be the brains of the retail sales floor. The SmartHub collects incoming alerts from cameras and motion detectors, call buttons, customer smartphones, online orders, and environmental sensors, and then sends alerts to a variety of communication devices, including staff tablets and smartphones, digital signage, or in-store paging. All in-store event data is then sent to the Microsoft Azure cloud portal via the Sequans Monarch connectivity solution. The SmartHub has been certified by a leading North American mobile operator, and previous versions of the device have been installed in major retail chains throughout North America (US and Canada).

“We are very excited to see our SmartHub becoming a truly universal solution now that it is connected via ubiquitous and ultra-reliable cellular,” said Mark Barnes, FlorLink CEO. “We chose Sequans’ Monarch technology because of its ease of integration, and because of Sequans’ proven track record in cellular IoT and great customer support, which enabled us to bring our Monarch-enabled SmartHub to market in record time.”

Monarch 2 GM02S is the industry’s most advanced LTE Cat M1/NB1/NB2 connectivity solution. It is based on Sequans’ second-generation Monarch 2 chip platform, which is designed and optimized to support massive IoT. Monarch 2 provides significant improvements in performance and power consumption, while providing seamless migration for Monarch 1 customers because it is based on Sequans’ existing LTE-M/NB-IoT protocol stack—one of the most mature and proven in the entire LTE ecosystem.

Monarch 2 GM02S features a very small yet cost-effective form factor and it is an ideal connectivity solution for a wide range of IoT applications, including utility meters, sensors, trackers, and wearables for applications including smart home, smart city, ehealth, industrial, retail, agricultural, financial, and security.

According to Allied Market Research, the demand for IoT solutions in the retail market is growing rapidly and expected to reach $177.9 billion by 2031, with a CAGR of 20.3% from 2022 to 2031.

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Using Wiliot’s new Reusable Transport Item (RTI) solution, Israel’s largest retailer becomes the first in the world to create an intelligent farm-to-store supply chain, continuously monitoring the location and temperature of produce to ensure freshness for its customers.

Wiliot, the Internet of Things pioneer whose IoT platform is enabling trillions of everyday “things” to gain intelligence and harness the power of the cloud, today announced the Wiliot Reusable Transport Item (RTI) solution, built on the company’s revolutionary Wiliot IoT platform.

Using Wiliot’s new Reusable Transport Item (RTI) solution, Israel’s largest retailer, Shufersal, becomes the first in the world to create an intelligent farm-to-store supply chain, continuously monitoring the location and temperature of produce to ensure freshness for its customers.

The new Wiliot RTI solution features the company’s IoT Pixels that can durably attach to ordinary plastic crates and make them smart using Wiliot Cloud services. This allows businesses to continuously track not only their reusable shipping assets, but also the contents within. The IoT Pixels built into the RTI solution’s plastic crate are self-powered, postage stamp-sized computers that communicate wirelessly with the Wiliot Cloud and can sense a range of physical and environment conditions, such as temperature, location changes, as well as if the crate is full or empty.

When trillions of everyday things connect to the IoT—products, materials, shipping containers, and more—they transform how goods are made, distributed, sold, consumed, reused, and recycled. In the process, an Internet of Trillions (IoT2) allows businesses to reinvent their supply chains to be more sustainable and create a truly circular economy that maximizes profit while protecting the planet.

“We are excited to be working with Shufersal, who have led the way in shining a light on the supply chain, from farm to store and beyond,” said Ohad Perry, Wiliot’s director responsible for supply chain solutions. “The Wiliot RTI solution puts the power of the Internet of Trillions into many more hands.”

“By delivering intelligence in a turnkey solution, we’re helping many different businesses—from grocery stores to pharmaceutical companies—cut the size of their pallet pools while avoiding shortages and at the same time optimizing the shelf life and traceability of the contents of the crates. In a world where supply chains are under enormous stress, cloud intelligence is bringing visibility to crates and their contents to help mitigate many of the issues that are impacting successful operations.”

With the Wiliot RTI solution, businesses can monitor their containers – and the food, medicine, or other perishables inside – through proactive alerts of temperature thresholds. Such information helps companies maintain regulatory compliance as it brings food and pharmaceuticals safety to a level of accountability not possible before. Until now, temperature monitoring has been restricted to a subset of products in the supply chain, leaving gaps where quality issues can occur and the integrity of products can be compromised.

The ability to track shipping assets has an equally profound effect on operations. By achieving cost-effective visibility into each asset at each stage of the supply chain, businesses gain insight that can have a meaningful, measurable impact on capital savings. With the Wiliot RTI solution, they can learn what percentage of intelligent containers are being stocked and used; exactly how and where they’re being used; and, equally important, whether they’re not being used at all.

“The Wiliot RTI solution enables a truly circular economy because now all reusable transport items can continuously communicate their status,” continued Perry. “Businesses can track inventory with precision, monitor shipping and delivery, preserve freshness, extend shelf life, and dramatically reduce waste.”

First Intelligent Farm-to-Store Supply Chain

Shufersal, Israel’s largest retailer, is already embracing real-time visibility through adoption of Wiliot’s RTI solution, creating a fully transparent supply chain from farm to store and ensuring the timely delivery of high-quality produce, extending shelf life, and minimizing food waste. In Summer 2021, Wiliot and Shufersal completed a successful pilot of Wiliot’s RTI solution and its ability to track the movement and condition of produce from the time it’s picked to its placement in Shufersal stores around Israel.

“Being able to see in real time that produce shipments were kept at the right temperature and knowing exactly how many days passed from when it was picked to when it arrived in stores has been eye-opening,” said Zvika Fishheimer, Shufersal’s Executive Vice President. “Shufersal is committed to offering our customers the highest quality and our ability to trace produce through our supply chain means we and our farmers can take every step necessary to deliver the freshest food in the market.”

Based on the successful pilot, Shufersal is now rolling out the Wiliot RTI solution throughout the country, deploying more than 1 million RTIs and installing wireless communications infrastructure to support roughly 250 farmers and distributors and 300 Shufersal stores. The solution will even include wireless readers and mobile network gateways on farmers’ tractors to ensure supply chain visibility out at the very edge.

“Wiliot works with global retailers and their partners to implement intelligent, sustainable supply chains and Shufersal is leading the way,” said Perry. “In collaboration with Shufersal, we’re able to shine a light into their supply chain where no one could before—right down to the tractor transporting produce from a field. Extending shelf life and tracing quality end to end are just two of the amazing capabilities that can transform how businesses can more efficiently move products from producer to consumer.”

To encourage widespread adoption, Wiliot is making its technology available in its Starter Kit and Partner Kit. The Wiliot Partner Kit includes IoT Pixels that users can attach to crates and pallets; bridge devices through which IoT Pixels communicate data wirelessly to the Wiliot Cloud; and Wiliot Cloud Services, which allow businesses to collect and analyze data from their IoT Pixels.

Wiliot works with many of the world’s largest and most innovative retail brands across apparel; food and beverage; and healthcare. The launch of the Wiliot RTI solution comes on the heels of a $200M venture capital round led by Softbank Vision Fund 2.

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European retailers are some of the world’s earliest adopters of electronic shelf labels (ESLs) to reduce operations costs as a foundation for retail digitalization.

Now at this week’s EuroCIS 2022 trade show, the new IoT platform All-Star is being released and introduced by the digital solutions provider Hanshow, poised to drive Europe’s brick‐and‐mortar retail into a new era of efficiency and profitability.

Entering the European market in 2016, Hanshow has been a major driver of this transformation with now nearly 100 million ESLs installed on the continent. This time at EuroCIS 2022, Hanshow is displaying a range of new solutions from AI-powered shelf monitoring to self-checkout trolleys and in-store marketing, constantly shaping smart stores of the future.

Chief among the new technologies presented by Hanshow at EuroCIS is the IoT platform All-Star, focusing on the retail industry and designed specifically to help retailers to expand and upgrade their digitalization. All-Star provides one-stop IoT solutions from IoT device management to digital operations upgrades, empowering retail customers to quickly establish IoT equipment management capabilities and be able to flexibly build business applications and integrate customized business connections to further boost operation efficiency of smart stores and elevate in-store experience of the customers, ranging over key functions of pricing management, inventory management, picking, geolocation, dynamic pricing, promotion boards, interactive marketing, digital payment, passenger flow analysis and automatic monitoring patrol.

The All‐Star platform thus works as an integrated system for the management of a store’s entire digital devices, providing SaaS and private deployment solutions, both of which support unified user authentication and third-party application access integration with an open API based on HTTP. Correspondingly, one of its key product innovations is to solve the new challenges arising with the amount of IoT devices all operating on different networks and communicating on different transmission signals, as one store may require a handful of login systems with operations personnel trained in each. Therefore, each retail solution management platform may now be accessed through All-Star for a holistic integration of all the core business operation processes, significantly simplifying the maintenance of these devices.

In tandem with the All-Star system, Hanshow has also developed an industry-first communications protocol that uses one transmission frequency to communicate with all Hanshow IoT devices, easing the burden on the range of signal frequencies previously needed.

Shiguo Hou, said:

“Hanshow has developed All-Star and the rest of its solutions specifically with global retailers in mind to achieve a more holistic form of digitalization. These new solutions, software, and transmission technologies all combine to help retailers in Europe move into an exciting new era of digitalization. This unlocks great new opportunities. We’re just seeing the beginning of what’s possible.”

The post Hanshow Releases Its New IoT Platform, Elevating Retail Digitalization appeared first on IoT Business News.

Kerlink¹, and Clickie², today announced their smart-store solution is being deployed in more than two-dozen stores in Chile owned by Latin America’s largest convenience store chain, OXXO.

Clickie’s system, which can be deployed with no disruption to store operations, can reduce store energy consumption by up to 20 percent, reduce the annual CO2 production by more than 240,000kg and increase useful lifetime of in-store equipment by 25 percent.

OXXO, part of Grupo FEMSA, has nearly 20,000 convenience stores in five Latin American countries.

Clickie’s system combines LoRaWAN® technology, management tools and economic-behavior theory to monitor businesses’ critical operational variables in real time and deliver timely information capable of optimizing the way resources, such as electricity, are used.

Kerlink, a leading provider of solutions for designing, launching, and operating public and private LoRaWAN® IoT networks, offers a comprehensive product portfolio of leading industrial-grade network equipment, best-of-breed network-core, operations and management software and value-added applications. In these Chilean smart-store deployments, it delivers its Wirnet iFemtoCell or iFemtoCell-evolution, its robust indoor carrier-grade gateways, along with Wanesy Management Center, its complete, modular solution that runs, monitors and manages entire IoT networks.

Nicolás Llévenes, Clickie’s chief commercial officer, said:

“Our system enables complete monitoring of structure heating, cooling and lighting, as well as of refrigeration equipment in the stores, and it gives managers full control on their operation, including remote management.”

“Clickie chose to partner with Kerlink for these deployments because of its record of providing reliable-and-robust indoor gateways which, combined with Wanesy Management Center, offer our customers future-proof local IoT networks.”

“Kerlink’s smart-store solutions are being used in countless businesses, stores and shops around the world because they allow shop owners and managers to control assets and energy use, cut costs and reduce their carbon footprints,” said Josic Thepaut, Kerlink sales manager for the Americas. “These deployments in Chile with Clickie also prove that smart-store solutions can be quickly and easily implemented, with no disruption of day-to-day business operations.”
 

Benefits of Clickie’s Smart-Store Solution

Electrical equipment management

Continuous monitoring of energy usage allows detection of critical points of consumption and key management opportunities:

• Scheduled operating hours
• Equipment or appliances that record energy consumption during the store’s closing hours can be programmed to shut down automatically, thus reducing unnecessary usage and extending their useful lives.
• Out-of-range alarms
• Alarms that trigger when excessive consumption is detected identify when and where consumption peaks occur. This facilitates management of energy demand.
• Automation
• Clickie’s automation service gives store managers control of their devices from the platform, such as the possibility of managing room temperature remotely.

Room temperature management

OXXO manages to effectively maintain an optimal room temperature in all its stores, thanks to the temperature management tools connected to the platform.

• Smart thermostat
• Clickie provides advanced control of air conditioning units, to automatically and remotely adjust modes and temperature level based on customer comfort parameters.
• Automatic On/Off
• Using the platform, the air conditioning is programmed to turn on half an hour before and turn off half an hour after the store’s business hours.
• Custom schedule
• Clickie allows the creation of custom schedules to turn on air conditioning on certain days and automate operating hours. Powered On Monday through Friday, powered Off on Saturdays and Sundays. Any timetable is allowed.

The post Kerlink and Clickie Deploy Smart-Store Systems For Latin America’s Largest Convenience Store Chain appeared first on IoT Business News.

Groundbreaking step means that Wiliot’s self-powered, stamp-sized computers – and corresponding SaaS services – are available to revolutionize the supply chains of every brand, retailer, and solution provider.

Wiliot, the Internet of Things pioneer whose combination of self-powered, stamp-sized computers and cloud-based privacy and sensing enables trillions of “things” to communicate with manufacturers, today announced the Wiliot Starter Kit.

Visitors to Wiliot’s booth at the NRF 2022 will have the chance to win free Starter Kits as part of its “Open Release” program.

The kit contains everything retailers need to experience the IoT transformation that Wiliot represents. It includes Wiliot’s postage stamp-sized computers – the IoT Pixels – pre-mounted on both cardboard and a coffee cup.

The IoT Pixels can sense a range of physical and environment data, such as temperature, fill level, motion, location changes, humidity, and proximity.

The kit also includes small Bluetooth bridge devices that energize and read the IoT Pixel tags. The harvested data is relayed to the Wiliot Cloud using gateways, including smartphones, via the Wiliot mobile app – which is now compatible with iOS and Android devices.

Through the Starter Kit, retailers can explore projects that enable a host of new retail use cases – from enhanced inventory management, to consumption monitoring, anti-counterfeiting, product traceability, and more.

The Starter Kit’s “Open Release” enables any retailer or brand, of any size and with nearly any budget, to begin working with Wiliot; previously, the company’s controlled-release initiative was only open to a select group of the world’s largest retailers and brands.

Tony Small, Wiliot’s Chief Business Officer, said:

“This is a milestone in democratizing the Internet of Things.”

“We chose NRF because it represents a gathering of the entire ecosystem of industry leaders – partners, retailers, brands – who will appreciate the power of the Starter Kit and its ability to scale access to Wiliot’s vision of IoT. That vision – which is now a reality – is to transform the Internet of expensive Things to the Internet of everyday Things by adding intelligence and connectivity to everything from packaging to containers and clothing – for just pennies.”

Wiliot is already working with many of the world’s largest and most innovative retail brands across apparel, food and beverage, and healthcare. The launch of the Wiliot Starter Kit comes on the heels of a $200M venture capital round led by Softbank Vision Fund 2.

The post Wiliot Launches its “Open Release” Starter Kit, Bringing the “Internet of Everyday Things” to the Retail Market appeared first on IoT Business News.

According to a new research report from specialist IoT analyst firm Berg Insight, the market for NFC-ready POS terminals continued to show strong momentum in 2020 with annual shipments reaching an estimated 67.2 million units worldwide.

The attach rate for NFC was highest in EU27+3 and North America, where 96 percent of the POS terminals shipped featured NFC. NFC was also a very popular feature in many other major markets worldwide, including Brazil, Turkey and China. On a global basis, about 74 percent of the POS terminals shipped in 2020 included NFC.

Berg Insight projects the global installed base of NFC-ready POS terminals will grow at a compound annual growth rate (CAGR) of 14.3 percent from 140.5 million units in 2020 to 274.2 million units in 2025. As a result, more than 91 percent of the world’s POS terminals will be NFC-ready in 2025, up from 68 percent in 2020.

“The mPOS terminal market is growing at about the same rate as the traditional POS terminal segment and there are more than 70 vendors active on the global market today,” said Johan Fagerberg, Principal Analyst at Berg Insight.

mPOS is the use of consumer-oriented mobile devices such as tablets and smartphones that function as a point-of-sale terminal to facilitate payment card transactions through a connection to a card-accepting reader. The attach rate for NFC in the mPOS segment was 69 percent in 2020 as NFC-ready mPOS terminal shipments reached 26.9 million units.

Berg Insight forecasts that global shipments of NFC-ready mPOS terminals will grow at a compound annual growth rate (CAGR) of 11.7 percent in the next five years to reach 46.7 million units by 2025.

Mr Fagerberg concludes:

“The growth is driven by the increase in mPOS terminal shipments from 39.2 million units in 2020 to 50.3 million units in 2025, as well as by a growth in the attach rate from 69 percent to 93 percent.”

The post Shipments of NFC-ready POS terminals reached 67.2 million in 2020 appeared first on IoT Business News.

Circular fashion pioneer company lablaco and H&M Mitte Garten store in Berlin inaugurated together the new Internet of Things (IoT) based technology this October, offering customers to exclusively rent and swap a special collection.

Today, Sony Artist Emily Roberts will perform an exclusive concert at the H&M Mitte Garten Store in celebration of the launch of the new rental service. As one of the ambassadors for the service, along with influencer Nubian Smith and Elisa Schenke, Emily will show the fun and flexibility rental pieces can bring to everyone’s wardrobe.

The rental service is based on SPIN – circular fashion platform by lablaco. With this collaboration H&M Mitte Garten and lablaco want to explore the potential of rental services within the new connected and digitized circular fashion industry.

With one click, the garment is booked and paid – and ready to be worn. When the garment is returned to the Store, it will be checked, cleaned and prepared for the next rent.

“I am very excited to exclusively try out this blockchain based rental service in our Berlin Mitte Garten Store. We have a unique community and customer base – they love to explore new things, to experiment with their style and looks in a fashion-forward, sustainable and affordable way.” says Stiliana Stoyanova PR & event manager Mitte Garten.

For the first time, H&M Mitte Garten store customers can scan IoT care labels of selected products with smartphones, not only to track multiple individual product journeys at item level on blockchain, but also to add memories and stories to the garments by uploading their looks.

“Each garment has unique stories. We can’t wait to see how H&M Mitte Garten community will create stories by “SPINning” their fashion.” says Eliana Kuo, Founder and Co-CEO of lablaco.

The rental service is available now until the end of the year. During this period there will be different collections available for the customers to rent. The first collection will compromise 12 different fashion pieces. The rental period ranges from 5 days to 3 weeks. The price per piece ranges from 5 EUR to 9 EUR per day. The account for SPIN is free of charge.

The post H&M and lablaco Launch the First Blockchain-Based IoT Rental Service Powered by SPIN appeared first on IoT Business News.

Delivering 24/7 convenient access to fresh, local produce helping consumers to make sustainable choices.

Global technology company Glory, has today announced the launch of a new Internet-of-Things enabled vending solution with Germany’s largest railway operator Deutsche Bahn.

Passengers at two busy stations in the Munich area will now be able to select fresh, locally sourced produce, either in advance via a web app accessible through their smartphone or directly at the machine.

The first of its kind at any railway station in Germany and branded “Zugvogel” by Deutsche Bahn, the Glory solution combines IoT-enabled hardware with cloud-based software. The connected nature of the solution allows not just convenient consumer ordering through the app, but remote monitoring of the temperature within the refrigerated unit and sell-by dates of the individual items to ensure freshness, together with detailed stock levels to maximise availability of popular products while avoiding waste.

With increased consumer interest in understanding more about their food choices, details of ingredients. allergens and the source of the items available are displayed both through the app and via a large screen on the machine. As part of heightened focus on sustainability and environmental impact, food traceability is becoming more important for many consumers and every product purchased through the Zugvogel machines can be tracked backed to the original, local producer.

When talking about the solution Dominik Cipa, Director of Innovation at Glory Global Solutions said:

“We are delighted to be working with such a globally recognised company as Deutsche Bahn on this project. Our combined cloud-based software and internet of things hardware delivers a complete solution responding to the increasing consumer desire for convenient access, 24 hours a day seven days a week, to fresh locally sourced food choices.”

“With the ‘Zugvogel’ products, travellers and residents can eat healthily, support local producers and thus contribute to a sustainable lifestyle. This particularly benefits commuters who can provide themselves with a healthy meal ‘to go’ on their way to work or on their way home. With this service, we want to make the stations more attractive for our guests and thus win more people for the environmentally friendly railway,” said Deutsche Bahn’s Mareike Schoppe, station manager for the stations in Munich and the surrounding area.

Following the initial two installations, Deutsche Bahn is planning to deploy further units at stations in Munich City and potentially across Germany.

The post GLORY Announces IoT Enabled Vending Solution with Deutsche Bahn appeared first on IoT Business News.

Retail products leveraging the LoRaWAN® protocol improve retail profitability and security.

Semtech Corporation announced its collaboration with InVue, the leading global provider of intelligent hardware and software systems for retail, consumer electronics and data centers, to integrate the LoRaWAN® protocol into InVue LIVE compatible products across retail display, security and operations.

Chris Gibson, InVue chief product and marketing officer, said:

“I consistently hear from our retail customers around the world about the growing need for not only data, but actionable insights which result in greater efficiency, security and less friction for shoppers in stores. With LoRaWAN, we can deliver on these priorities across a variety of retail applications through our InVue LIVE products in a simple, secure and scalable way.”

InVue’s integration of the LoRaWAN protocol into its InVue LIVE products highlights a successful implementation of LoRaWAN into the broader retail industry and focuses on improving the key areas retail continues to invest in – operational readiness, and ultimately, the shopper experience – including product availability, convenience and customer insights. This sophisticated suite of products gives retailers the ability to monitor and manage these operations through a single platform, as well as deliver actionable data and insights in real-time.

Each InVue LIVE device uses a LoRaWAN network to wirelessly connect to the internet while offering bi-directional communication, end-to-end security, mobility, and localization services. This functionality enables retailers to track customer interaction with display merchandise for phones and tablets (S3100V and OnePOD Wireless), reduce theft (OneKEY), measure on-shelf availability (OSA Sensor), and automating on/off as well as planogram reporting electronics displays (TV Manager).

“As the Internet of Things (IoT) continues to revolutionize the world around us, the application in retail has been nothing short of remarkable with the LoRaWAN protocol,” said Marc Pegulu, vice president of IoT product marketing and strategy for Semtech’s Wireless and Sensing Products Group. “Our collaboration with InVue is groundbreaking for both the customer and retailer due to LoRaWAN protocol capabilities that offer ease of deployment, scalability and even streamline operation costs for retailers to understand what is happening in their stores.”

The InVue retail solutions utilize products that are a part of the LoRa Core portfolio, which provides global LoRaWAN network coverage and is targeted to several vertical industries including asset tracking, building, home, agriculture, metering, and factory automation.

The post Semtech Enables InVue LIVE Products With LoRaWAN® to Revolutionize Retail Operations appeared first on IoT Business News.

The number of cellular IoT connections in the retail industry reached 72.4 million worldwide in 2019, according to a new research report from Berg Insight.

Cellular IoT technology enables devices such as POS terminals, ATMs, digital signs and ticketing machines to be used at new locations where fixed line connectivity is unavailable or impractical. The technology has a more transformational effect on markets such as vending and parking, where machine operators need to reorganize their operations in order to benefit from the availability of real-time information.

Berg Insight forecasts that the number of cellular IoT connections in the global retail industry will grow at a compound annual growth rate (CAGR) of 10.0 percent during the next five years to reach 116.6 million connections in 2024. Shipments of cellular IoT devices for retail applications will at the same time increase at a CAGR of 6.1 percent from 31.6 million units in 2019 to 42.4 million units in 2024.

POS terminals constitute the largest device segment and accounted for 91 percent of all cellular IoT connections in the retail industry at the end of 2019. The market for wirelessly connected POS terminals is however relatively mature, and most of the market growth is driven by the increasing use of electronic payments in emerging markets.

“The multi-space parking meter segment was one of the first vertical markets to embrace cellular IoT connectivity and has today reached the highest connectivity penetration of 60 percent”, said Johan Fagerberg, Principal Analyst, Berg Insight. In recent years, cellular connectivity has also found its way into the single-space parking meters market, which has become one of the fastest growing segments. Berg Insight expects that the vending machine segment will present a major opportunity for wireless connectivity in the long term.

Mr Fagerberg concludes:

“Today only 4.2 million of the world’s 15.0 million vending machines are online. Every vending machine will eventually be connected, but costs for the wireless IoT hardware and subscriptions still need to come down further before this vision becomes reality.”

The post The installed base of cellular IoT devices in the retail industry to reach 116.6 million by 2024 appeared first on IoT Business News.

• IoT-enabled security cameras can make retail environments more efficient, customer-friendly and most importantly, more secure and safe
• AI applications can assist multiple retail sectors in enhancing customer experience and increasing sales conversions with actionable, intelligent data
• By connecting smart cameras with other systems in IoT, safety processes can be fully automated

Retailers around the globe are cautiously reopening their doors after facing perhaps the most challenging times in decades, while in some areas of the world the toughest times may still lie ahead. The short-term disruption caused by the COVID-19 pandemic is clear, but its impact on the future of retail operations is yet to be seen. This uncertainty is creating unseen challenges for retailers, who are looking to make smart investments in technology that will not become obsolete once health and safety guidelines and restrictions lift. Ultimately, retailers have had to be creative in finding ways to retain customers and keep them happy during these unprecedented times.

Many retailers have concentrated on implementing technologies primarily to mitigate risk from the ongoing pandemic. However, investing in a new breed of smart surveillance cameras today enables retailers to design a sustainable system with robust application offerings for multiple types of scenarios, both during the pandemic and as operations begin to normalize. These cameras can be equipped and re-equipped flexibly with various video analytics applications and be repurposed at any time to fit the most pressing needs of a business. Many retail stores have found themselves in uncharted territory over the past few months and would have welcomed if there had been a way for their security cameras to help address these new challenges. The key is to invest into new technology today to have the flexibility when it’s needed the next time.

With this in mind, Security & Safety Things (S&ST) outlines a few ways in which smart surveillance technology can support both short-term reopening measures and provide additional long-term benefits to retailers such as:

• Optimize inventory in stores and warehouses
• Increase sales conversions
• Enhance customer experience
• Streamline workflows

Video analytic applications can optimize operations by analyzing customer behavior and providing actionable insights to retail management. By assessing the amount of time customers spend in a store, managers can better plan for high traffic periods – increasing the number of staffed individuals or high-demand inventory items. If a store features a coffee shop, retailers are able to gauge the additional amount of time customers might linger in a shop, allowing them to plan for busy periods or potential bottlenecks. This also enables retailers to deploy other measures to optimize the shopping experience for customers.

Smart cameras can also assess highly trafficked zones, allowing managers to take advantage of upselling opportunities. Zone counter applications can be used for analyzing interactions with a particular shelf or area of a store. This enables managers to better manage on-hand inventory to meet customer demand. Smart cameras can also be connected to point of sale systems and, by combining video data with cashier data, enable retailers to analyze the correlation between store and even department occupancy and sales made – offering opportunities to optimize conversion rates.

Where additional safety and security measures are required, smart cameras with intelligent analytics can assist in notifying proper personnel about spills in aisles and other potential safety hazards, as well as immediately notify staff if a customer has fallen. Additionally, when equipped with object detection, the cameras can identify damaged goods in retail warehouses and manage inventory to prevent theft.

A security camera, which was previously only able to provide video data, can now also enable retailers to better understand their customers shopping habits and optimize business operations – offering far more than just a security or health safety tool. These cameras effectively become IoT sensors that can today be used for COVID-19 related topics and tomorrow be refitted to further improve building safety and visitor experience.

The post Long-term uses for AI and IoT in retail environments appeared first on IoT Business News.

Auchan Retail Portugal, one of Europe’s largest grocery retailers, and Trax, a leading provider of computer vision and analytics solutions for retail, today unveiled an agreement to deploy Trax’s suite of autonomous shelf monitoring solutions, including robots, across Auchan Retail’s entire grocery retail network of 34 supermarkets and hypermarkets in Portugal.

The project starts in the Auchan Alfragide hypermarket in Lisbon.

As part of the agreement, Trax’s autonomous robots, developed in partnership with German robotics company MetraLabs, will be progressively deployed in Auchan stores across the country. The robots will move around the stores up to three times daily to capture photos of every shelf and aisle, which are then digitized at scale, using Trax’s proprietary computer vision and Internet of Things (IoT) technology, and converted into reports with actionable metrics and insights. These reports are delivered via a mobile app to store staff, enabling them to analyze, prioritize and resolve shelf issues such as out-of-stocks and pricing compliance issues more quickly and efficiently.

Roy Moussa, SVP Commercial Retail Solutions at Trax, said:

“Computer vision and IoT in retail is transforming store operations into a data-driven and frictionless process. Trax’s partnership with Auchan demonstrates the confidence that top global retailers place in our industry-leading portfolio of in-store execution solutions, market measurement, crowd services and analytics to ensure every store is made more productive, profitable and future-proof, especially in these challenging times.”

Andre Vieira, Digital Director at Auchan Retail Portugal, said:
“Innovation, through the search for digital strategies focused on people and improving customer service is one of Auchan’s great bets. With the introduction of autonomous robots, Auchan wants to improve productivity in stores and optimize the supply chain, freeing employees to focus 100% on the mission of providing a better customer experience.”

Retailers and consumer goods manufacturers around the world leverage Trax’s in-store execution and retail analytics solutions to better manage on-shelf availability and optimize merchandising. These solutions are powered by proprietary fine-grained image recognition algorithms which convert photos of retail shelves into granular, actionable shelf and store-level insights. Besides autonomous robots, Trax also offers fixed on-shelf and ceiling cameras, as well as mobile app solutions, to monitor real-time shelf conditions.

The post Auchan Retail Accelerates Digital Transformation With Trax’s Autonomous Shelf Monitoring Solutions in Portugal appeared first on IoT Business News.

For most businesses, QR codes are nothing new. Major brands like Coca-Cola or Amazon have already incorporated QR codes into their packaging a long time ago- and are no doubt reaping the rewards of having them on their products.

However, with smartphone usage still rising, smart packaging is definitely the future. In fact, it is estimated that by 2023, the smart packaging market will be work a staggering $7.56 billion.

With the ability for anyone to make a QR code, smart packaging looks set to be a fixture on all of our shelves.

Here are a few examples of how brands have used QR codes effectively.

QR Codes Offer the Opportunity For Transparency

QR codes on the packaging of products are a great way of providing more information than you would usually be able to squeeze onto packaging.

Nobody wants to squint their eyes up while trying to read small writing on the packaging. Instead of trying to put lots of information onto packaging, you can bring up all of that information on your smartphone.

While you will still need to put essential information about what is in a product, and any legal requirements such as the calorie count; however, many brands will include information about ingredient transparency in their QR linked content. This could include allergies and facts about where the produce was sourced and much more.

QR Codes Offer Increased Brand Engagement

Using QR on your packaging is an excellent way of increasing and improving the way that your customer’s interact with your brand and products.

In addition to the specific product information such as ingredients, you can point your customers to customer rewards programs where you can promote your product further by offering discounts and vouchers. In addition to this, you can point your customer toward the nearest stockists so that they can buy more.

There are lots of other great ways that you can engage with your customers through QR codes. You can take them to product-related videos, or encourage them to download apps that offer more chances to engage.

QR Codes Bring About The Opportunity For Data Collection

If you want to keep engaging and re-engaging your customers, you need to know where you can find them in the future. It is all very well taking them to content via a QR code and enhancing their experience, but there is a real opportunity to get your customers to provide their contact details for direct future marketing.

By using customer reward schemes, competitions, discounts, and other incentives on your QR code, you’ll be able to engage your customers into coming back. Not only this but they will keep coming back.

QR Codes: The Future of Packaging?

With a rise in the use of QR codes over the last few years, there are growing trends towards integrating smartphone technology into the customers shopping experience and beyond. QR codes offer the ability to engage with customers in a whole new way.

The post The Future of Retail: Smart Packaging appeared first on IoT Business News.

• Traffic signal controls access to retail shops and eateries
• System counts visitors and sounds an alarm in the event of unauthorized access
• Easy to install and configure

Retailers are breathing a sigh of relief as they are finally allowed to reopen their businesses and start trading again. But current hygiene rules must still be observed as part of the ‘new normal.’ Business owners must ensure that social distancing rules are being followed on their premises.

A Deutsche Telekom traffic light system placed at the store entrance is a reliable way to control access.

“What businesses now need is reliable solutions for the ‘new normal’ in times of coronavirus,” says Rami Avidan, Senior Vice President for IoT at Deutsche Telekom.

“The access control lighting system helps them keep their customers as safe as they can be.”

The traffic light system is easy to understand. The solution counts every customer entering or leaving the premises. When the maximum number of visitors is reached the traffic light turns red. If customers ignore the signal the system sounds an alarm and an employee is notified via smartphone. As only a limited number of people is allowed to enter, the solution also helps ensure compliance with the social distancing rules in the shop or restaurant itself, and that without owners having to hire additional staff.

But not only in times of crisis is the IoT solution useful. It also offers businesses a significant general advantage by creating transparency on the flow of visitors in their stores. As it visualizes the footfall according to the time of day and day of the week, the system can be used, for example, to plan more accurately the numbers of staff needed at any point in time. Or to decide when best to schedule activities such as shelf-stacking or cleaning the cold store. The solution can be used in many different ways and adapted to different types of business.

The Internet of Things provides greater transparency

Deutsche Telekom’s IoT solution (Internet of Things) consists of two pillars placed a maximum of five meters apart from each other, to the right and left of the entrance door. They are connected to each other via a photoelectric barrier. Every time a customer enters or leaves the shop this movement it reliably detected by sensors, enabling the system to register the number of people who are currently in the shop. The solution’s traffic signal visualizes the current status accordingly, and the values are sent in real time through a gateway to the Cloud of Things via the mobile network.

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According to a new research report from specialist IoT analyst firm Berg Insight, the market for NFC-ready POS terminals continued to show strong momentum in 2019 with annual shipments reaching an estimated 47.8 million units worldwide.

The attach rate for NFC was highest in EU28+2 and North America, where 94 percent of the POS terminals shipped featured NFC. NFC was also a very popular feature in many other major markets worldwide, including Brazil, Turkey and China. On a global basis, about 70 percent of the POS terminals shipped in 2019 included NFC.

Berg Insight projects the global installed base of NFC-ready POS terminals will grow at a compound annual growth rate (CAGR) of 12.9 percent from 100.4 million units in 2019 to 184.5 million units in 2024. As a result, more than 88 percent of the world’s POS terminals will be NFC-ready in 2024, up from 62 percent in 2019.

While the installed base of NFC-ready POS terminals has grown quickly, the contactless technology has in some cases not been activated. Berg Insight estimates that approximately 70.0 million POS terminals accepted contactless payments with Visa payWave, MasterCard PayPass or UnionPay Quickpass at the end of 2019.

Johan Fagerberg, Principal Analyst at Berg Insight, said:

“The mPOS terminal market is growing faster than the traditional POS terminal segment and there are more than 70 vendors active on the global market today.”

mPOS is the use of consumer-oriented mobile devices such as tablets and smartphones that function as a point-of-sale terminal to facilitate payment card transactions through a connection to a card-accepting reader. The attach rate for NFC in the mPOS segment reached 64 percent in 2019 as NFC-ready mPOS terminal shipments reached 24.7 million units. Berg Insight forecasts that global shipments of NFC-ready mPOS terminals will grow at a compound annual growth rate (CAGR) of 12.7 percent in the next five years to reach 44.9 million units by 2024.

“The growth is driven by the increase in mPOS terminal shipments from 38.3 million units in 2019 to 46.7 million units in 2024, as well as by a growth in the attach rate from 64 percent to 96 percent”, concludes Mr Fagerberg.

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