Advances in intelligent electronics
In today’s competitive industry retailers and brands are looking for even more innovative ways to boost business, improve operational efficiency and engage with their consumers. Incorporating intelligent electronics into everyday objects could be a real game changer. Scott White, CEO at PragmatIC, outlines the challenges and opportunities.
Essentially integrated circuits (ICs) provide the brains (or intelligence) for a product to react based on consumer interaction. While conventional silicon ICs are ideal for increasingly sophisticated computing devices, these are not well suited for introducing intelligence and interactivity in low cost everyday items. Although silicon ICs have achieved cost reductions of over 50% in the last 10 years, the costs remain much too high for the Fast Moving Consumer Goods (FMCG) sector. Plus, on the practical side, rigid silicon-based tags can be susceptible to impact damage and in some cases require compromise on the packaging. A more flexible, robust and cost-effective solution is needed.
Until now examples of smart packaging have been limited to high value items or low volume promotional campaigns. But by leveraging technologies like RFID and NFC, and new advances in intelligent electronics, the future of retail is set for big change. Retailers can have unique electronic traceability across the entire product lifecycle – from manufacture, through the distribution supply chain and into the retail store, ensuring accurate and automated inventory management. Consumers can access personalised product information and promotions - before, during and post purchase - with a simple tap of an NFC enabled smartphone. Brands can gain valuable business insights and increase customer loyalty.
It’s a very exciting time – the way we run our businesses and the way we all interact with products on a daily basis is changing dramatically…
Find out how PragmatIC is helping to pave the way for this change - visit www.pragmatic.tech/about and watch our Introduction to PragmatIC video.