Today we should be talking about flow not friction – we could call it the retail butterfly effect.
Bill Toney, Global Vice President for RIFID and Digital Market, Avery Dennison
Avery Dennison’s “Flow Over Friction” guide examines how the advanced technologies such as RFID and the Internet of Things create a new shopping paradigm, a combination of the flow of data and the flow of experience – to positively influence a customer’s flow of happiness. With their business, brand and human impact, the technologies revolutionise the customer experience. The complete immersion in the here and now has been coined as FLOW by the researchers of positive psychology a long while ago. The companies should now understand its new dynamics in a connected age.
You could call it the intelligent shelf edge or the five “P’s”:
It’s all about using technology to engage the customer through creating a great shopping experience. Two thirds of customers today expect a real time customer service. The impact for the retailer is potentially huge:
- 5 to 10% sales uplift
- 10% improvement in a shrink reduction
- SKU accuracy level increases from 65% to 99%
- 9 times more sales with back to front RIFID
- 90% faster delivery of product
And, according to Google, a 30% higher consumer LTV across all the channels.