One of the most prominent obstacles that grocers face is waste. Food and energy waste can cost grocers millions each year. Food waste is a massive problem globally, with an estimated 40% of all food waste occurring at the consumer and retail level. To lessen this waste, more grocers have turned to Internet of Things (IoT) technology and complete retail solutions that harness IoT capability.
Connected devices allow for important data and information to be relayed from one device to another in real time. Stores can utilize IoT technology for tasks such as monitoring food temperature and equipment energy output. Applications can monitor refrigeration units that house products like ice cream and milk and report back if sensors indicate temperature variances or excessive energy use. This real-time exchange of information allows for issues to be fixed with minimal downtime and before serious malfunctions take place. Without IoT, a broken or faulty refrigerator or freezer may go unnoticed until all of its contents have spoiled. This creates waste for the retailer and potential sales and customer losses due to an unsatisfactory experience.
IoT is being leveraged across the grocery landscape to improve safety and reduce excessive food waste and energy consumption. According to the World Economic Forum, IoT solutions have allowed food retailers to reduce food loss by 40% and experience a net energy savings of 30%. Not only will the utilization of IoT technology improve a retailer’s bottom line, but also the customer’s retail experience. Consumers often look to support retailers that express a strong commitment to sustainability and IoT retail solutions allow retailers to serve consumers more sustainably.
IoT devices, such as those that monitor inventory levels and refrigeration, require a solid retail system foundation for optimal success. STCR’s retail solutions not only provide access to the latest tech; they are custom planned for your unique needs, so they deliver the most value for customers and give you room to grow and adopt innovations.
Learn more about the retail innovations offered by STCR and take your store to the next level of efficiency and profitability in 2021 and beyond.