Soon you’ll notice supermarket grocery shelves with produce, that may have electronic labels, personalized advertisements, RFID technology and internet of things (IoT) sensors. Smart shelves with digital displays are coming to more supermarkets as retailers replace paper labels with advanced technology.
Electronic labels will eliminate all the paper and will make it easier to change the prices in an entire store within minutes. Kroger has already started to use EDGE, which is a cloud-based display solution for shelves. Kroger EDGE displays prices, advertisements, nutritional data, coupons and videos.
Radio frequency identification reader (RFID) usually has a tag that contains a microchip, reader and antenna to transmit and receive data. In supermarkets, RFID technology can help retailers manage and track inventory. RFID tags can alert store associates when the shelves are empty and need restocking or when someone has put the wrong items on a shelf. RFID tags on every item combined with robotic checkouts can automatically scan your purchases and make shopping faster.
Health is an area where Internet of Things devices are already being used to lower insurance premiums for those who agree to wear the devices and to share data with insurance companies. wearables like FitBit have been tied to several insurance premiums.
Other areas of consumer related lifestyle data include the use of vehicle telematics devices (devices that enhance navigation, safety and communication features). Those who agree to have these devices integrated with their vehicles can see lower car insurance costs.
Networked smoke detectors for informal settlements, in the townships of South Africa have been developed by the company Lumkani. Lumkani is described as “the world’s first networked heat-detector designed specifically for a slum environment.
Lumkani devices are networked to each other using radio frequency. When a fire is detected, the alarm sounds in all homes within a 40 meter radius. A variable sound is used signal to users when a fire is in a separate dwelling.
Radio-frequency identification (RFID) chips are tracking livestock for insurance, such as the IFFCO-Tokio system. IFFCO-Tokio is piloting a cattle insurance project targeting more than 25,000 poor farmers and their families in the Indian states of Gujarat, Punjab, Maharashtra, Rajasthan and Orissa.