IOT and GS1 Revolutionizing Consumer Retail. Dr. Stephen Lam Chief Operating Officer GS1 Hong Kong

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1 IOT and GS1 Revolutionizing Consumer Retail Dr. Stephen Lam Chief Operating Officer GS1 Hong Kong

2 Is In-store Retail in Crisis? 2

3 Frightening Market Figures Younger consumer segments seeing retailing shopping inconvenient, time consuming and more expensive Many large retail chains are closing stores, like Macy, Sear and K-mart close their stores in terms of 100s Some spell the end of entire business, like Radio Shack (more than 500 stores) Market sentiment - The glory days of retails are over Is it really so? The Global Language of Business GS1 HK

4 The Predators Digital commerce online, mobile and smart devices Advanced mobile technology and fintech One-stop logistic providers AI and big data product push All these spare consumers going to retail stores The Global Language of Business GS1 HK

5 Reviving Strategies 5

6 Enhance In-store Experience Dynamic pricing make a quick win Emotional attachment loyalty Hand-free shopping quick fulfillment Personalized offerings mix and match clothing and accessories on the fly Consumer Virtual and Physical Source: PWC The Global Language of Business GS1 HK

7 Want to Be Part of the Consumer Journey? 7

8 Delighting The Consumer Journey Web Behavior Customer Satisfaction Mobile Activity Customer Attributes POS, Call, Kiosk Ad, Social Impressions Source: GS1 UK The Global Language of Business GS1 Hong Kong

9 Engaged at Every Part of the Journey Source: GS1 UK The Global Language of Business GS1 Hong Kong

10 Omni-Channel Consumer Engagement Strategy Single Channel Multi-Channel Omni-Channel In Store In Store By Proxy On-Line Providing a seamless consumer experience across physical and digital channels The Global Language of Business GS1 Hong Kong

11 IoT & GS1 11

12 That s How IoT Started In 1999, the term Internet of Things was firstly used in a presentation made at P&G by Auto-ID Centre of MIT. In Oct 2003, the original idea of the Auto-ID Center is based on RFID-tags, unique identification and internet technology was formally released and called Electronic Product Code (EPC). At the same time, EPCglobal Inc. was formed under GS1, and EPC was transferred to EPCglobal Inc. for further development and management to realize IoT. Auto-ID Centre was changed the name to Auto-ID Lab. There are 7 Auto-ID labs around the world and over 100 IOT and RFID R&D projects EPC The Global Language of Business GS1 HK

13 The Myths 87% of people have never heard of the term IoT But most of them have touched with IoT everyday! The Global Language of Business GS1 HK

14 Global Standards, Local Services GS1 Hong Kong 7 The Global Language of Business GS1 HK

15 GS1 Standards Identify, Capture and Share MASTER DATA Global Data Synchronisation Network TRANSACTIONAL DATA ecom Event Data EPC Information Services (GDSN) (EDI) (EPCIS) The Global Language of Business GS1 HK

16 Standards for Unique Identification and Visibility 1. LEGAL ENTITY 4. SHIPPING UNITS 2. LOCATIONS 5. PHYSICAL ASSETS 3. PRODUCTS 6. SERVICES End-to-end Track and Trace enabled by EPCIS Visibility Standard Traceability Efficiency Visibility Enhance Security Consumer Safety Customs Efficiency Facilitate Trade Coherence Reduce SME Growth Counterfeits Data Interoperability Harmonization The Global Language of Business GS1 HK

17 Where GS1 Meets IoT The Global Language of Business GS1 HK

18 Make Things Smart Smart HealthCare Share Smart Consumer In-store Analytics Capture Identify Smart Supply Chain The Global Language of Business GS1 HK

19 Put Them in Actions 19

20 Assuring Genuine Pearl with an Unique Identifier The Global Language of Business 20

21 Which One is Genuine? A B in terms of : luster / color / size / shape / spot The Global Language of Business GS1 HK

22 First Ever Pearl Nucleus with EPC RFID Tag What Unique ID Size Type etc + When Planted Harvested Certified Auctioned Produced Sold etc Where Cultivated Auctioned Certification agent Retail etc Why Encoding Plantation Harvest Certification Production Retail etc The Global Language of Business GS1 HK

23 Full Visibility - From Birth to Lady s Neck 3 Retailers / resellers validate the authenticity of the pearl necklace with RFID reader & show unique ID / EPC GS1 Hong Kong 2 eztrack Interface 1 The Global Language of Business GS1 HK

24 Creating Brand Loyalty The Global Language of Business GS1 HK

25 Observed Benefits Provide provenance of each pearl Treat & sell each pearl as a unique entity Raise confidence level with trusted information Protect customers from buying counterfeited pearl The Global Language of Business GS1 HK

26 Smarter Retail The Global Language of Business 26

27 Visibility & Traceability both Products & Shoppers RFID Readers Backroom Fitting Room Sales Floor POS: SALE SALE 1 Receiving: Immediately Locate & Restock Fast-Moving Items Sales Floor Portal SALE 2 Handheld Sales Floor: Reader Cycle Count & Replenish Stock 2x/day SALE Register Reader Window 3 Checkout: Front Door Portal Automatically verify sales & trigger reorders The Global Language of Business GS1 HK

28 Better Inventory Check Retail Store Scanning Warehouse Scanning Mobile RFID Scanning Device Further reporting The Global Language of Business GS1 HK

29 Capturing Shopper Behavior and Preferences Consumer takes clothes from the RFID senor hanger for trial while reader automatically senses the taken away items and sends to the dashboard RFID smart shelf hanger (with RFID sensor) The Global Language of Business GS1 HK

30 Personalization Shopping RFID device reads and display product information and cross selling information While it also facilitates in-store customer behavior & actions information capture The Global Language of Business GS1 HK

31 You re in Retail Store Business 31

32 Then Are You Ready? Source: Are You Ready? How to Create an Always-On, Always-Open Shopping Experience, Capgemini Consulting and GS1 US The Global Language of Business GS1 Hong Kong

33 You re Better Ready Source: b-conversational.com The Global Language of Business GS1 Hong Kong

34 Thank You!