With the rapid change in technology’s advancement and accessibility, nearly every industry is reworking their business to include technology in one fashion or another and incorporate it as a necessary functional element in their operations. Technology, specifically in the retail industry, now goes far beyond cash registers and tech products sold.
New “smart” products for the retail industry intentionally designed to boost the retail industry’s performance and data collection include the introduction of smart shelf technology. The purpose behind smart shelf technology is to allow storeowners and manufacturers to monitor their stock and product sales in a more efficient manner. Below are the top four upgrades smart shelf technology offers in comparison to traditional shelving.
Automatic, On-Shelf Inventory Counting and Reporting
Before smart shelf technology, store managers could spend up to several hours at a time manually counting and reporting inventory. As an included feature to smart shelf technology, data collection through counting and reporting makes tracking sales and inventory an easier and faster experience. Live data, received and recorded from smart shelf technology, can later generate detailed reports showing stock levels, products in high demand, and much more. To do such, sensors are imbedded into the shelves, monitoring the distribution of weight.
For those busy days when store managers or employees have high customer traffic, it’s hard to keep track of when an item is out of stock. Another smart shelf technology function monitors low or out-of-stock items. You can customize when the shelf generates an alert so that you may reduce the commonality of an item going out of stock. The alerts can be sent to you through text, PA audio, or email so you can be notified anywhere at any time.
Theft is a daily problem in the retail industry. According to the 2018 National Retail Security Survey, inventory shrink accounted for 1.33 percent of retail sales, or $46.8 billion, in 2017.
Utilizing smart shelf technology, you can prevent and deter shoplifters. In the event that product is removed from the shelf in a capacity greater than the threshold set in a single encounter, an alert is automatically generated and delivered to you via text, PA audio, or email. With the help of a compatible security camera, the footage of the incident will begin recording for immediate and later review.
Smart shelf technology always allows you to retrieve the information from anywhere through the internet. You can even elect to have offline access! If purchasing a security camera compatible with the smart shelf, you will also have access to the security camera footage and its recordings.
Run Your Business with Smart Shelf Technology
Revolutionize the efficiency of your business through the installation of smart shelf technology so you can further emphasize on building your business through customer service and product development.
At Sennco Solutions, we focus on designing your product’s security, display, and performance to help achieve your retail marketing goals and priorities. Contact us today to see what solutions we can bring to your technology queries.