The article highlights how advanced technologies including RFID, BLE, IoT, and Drones are transforming the retail sector, particularly grocery and convenience retail.

RFID can markedly improve the efficiency of inventory management in retail. Being able to track every product in the store at any time, retailers can achieve better inventory accuracy, reduce stock outs/overstocks, minimize labor costs, and improve sales. Furthermore, RFID helps in creating a unique identity for each product, which lowers the error rate in order management and payment processing.

The BLE technology can buoy retailers in global positioning and navigation inside stores. BLE’s battery-friendly feature makes it perfect for beacons which allow stores to catch smartphone signals of customers and send them personalized discounts, coupons, promotional messages, and even directions to find products inside the store.

IoT technology connects several systems and devices together over the internet, which helps retailers monitor various activities inside stores in real-time. IoT can also use customer data to predict buying behavior and adjust inventories or marketing strategies accordingly. It can monitor in-store temperature for perishables or detect the rotten items, thereby saving from loss.

Drones are helping in reducing the human workforce and minimizing labor costs. Drones can help retailers deliver goods in less time and money, especially to remote or inaccessible territories. Store owners can employ drones to detect missing items on shelves or to locate the misplaced products inside the store.

To meet the evolving requirements of consumers, especially after unprecedented disruption COVID-19 has caused, it is essential for retailers to leverage these technologies and adapt to the new normal. Combined, these technologies work toward automating retail operations, enhancing customer experiences, boosting sales, and lowering costs.

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