A revolution is happening in the retail space, in particular along grocery aisles, as major chains are upgrading the shopping experience for their customers through the power of the Internet of Things (IoT).
Everything from self-driving shopping carts to smart shelves are in line to be installed in some of North America’s biggest retail chains, as companies like Kroger and Walmart are playing catch up with options already available online and across Europe and parts of Asia.
The result has been a shopping renaissance being led by innovative companies with interests in the IoT, including Edgewater Wireless Systems (TSX.V: YFI) (OTC: KPIFF), Nokia Corporation (NYSE: NOK), Intel Corporation (NASDAQ: INTC), VeriFone Systems, Inc. (NYSE: PAY), and Zebra Technologies Corporation (NASDAQ: ZBRA).
Much of the innovation of tomorrow’s shopping experience was recently showcased at The National Retail Federation's Big Show—in particular within the Innovation Lab.
Coming out of 2017, retailers were surprisingly healthy, despite big blows to the space such as the collapse of Sear. However, tech has helped propel retailers to a healthier state, with well-managed inventory, and a customer base opening up their wallets.
While online shopping led by mega-retailer Amazon is making shopping from home more convenient, from the shoppers’ perspective, gimmicky gadgets can boost their individual excitement from the shopping experience outside of the home.
It will be through developers such as Edgewater Wireless Systems (TSX.V: YFI) (OTC: KPIFF), Nokia Corporation (NYSE: NOK), Intel Corporation (NASDAQ: INTC), VeriFone Systems, Inc. (NYSE: PAY), and Zebra Technologies Corporation (NASDAQ: ZBRA), that these shopping experiences will be upgraded.
RETAIL RENAISSANCE
Technology is bolstering the retail store experience, in the face of massive competition coming from online giants such as Amazon.
Target has moved forward with a partnership with Zebra Technologies Corporation (NASDAQ: ZBRA), which sells scanning devices, label printers, and more.
VeriFone Systems, Inc. (NYSE: PAY) has also partnered with Target to work on the retail giant’s payment platforms—in particular a method that helps a retailer “save the sale” on the floor with portable credit card readers.
But one of the biggest developments in the shopping experience coming down the pipeline is the concept of a “scan and go” option. One of the biggest advantages online shoppers attribute to online retailers is time saved—Scan and go is aiming to drastically close the gap on behalf of brick and mortar stores.
Retail heavyweights Walmart and Kroger are each testing some variation of a "scan and go" option for shoppers—Once fully implemented, it appears that 500 stores are about to go without cashiers in 2018.
In order for these systems to fully function, steady connectivity is imperative.
This is why Kroger enlisted a partnership with Edgewater Wireless Systems (TSX.V: YFI) (OTC: KPIFF) to enhance its in-store infrastructure, with a next-generation WiFi platform, powered by Edgewater’s WiFi3TM technology.
KROGER 2.0 – POWERED BY EDGEWATER
The message being sent by Kroger so far already this year has been that they’re aggressively innovating their infrastructure.
By using advanced technology, Kroger is transforming its business to create a more seamless shopping experience for its customers. With a focus on the customer, Kroger has won several awards for innovations that include:
- QueVision, a solution to speed up checkout wait times;
- EDGE, a digital engagement shelf;
- and FAST (Food at Safe Temperature), an IoT sensor technology which monitors temperatures in freezers and coolers to ensure continuous and safe temperatures, helping to preserve food quality.
Through the WiFi3TM technology from Edgewater Wireless Systems (TSX.V: YFI) (OTC: KPIFF), Kroger will be able to power and enhance these innovations and future ones to come.
As an IoT and WiFi innovator, Edgewater Wireless Systems is already leading the way in WiFi connectivity solutions. They specialize in designing and patenting Wi-Fi solutions to power and serve high-density environments—Such as airports, convention centers, stadiums and other public spaces requiring broad access to Wi-Fi.
To date, Edgewater’s spent approximately $60 million on R&D leading to the company’s biggest technological advancements, including the patented WiFi3tm technology being used by Kroger.
"One of the key strategic drivers of our Restock Kroger plan is to expand partnerships to create customer value, which includes forming alliances to accelerate our digital and e-commerce platforms,” said Chris Hjelm, Kroger's Chief Information Officer “We are focused on in-house innovation and partnering with global industry leaders like Edgewater Wireless to build the best technology infrastructure that will help us to deliver next generation shopping experiences to our customers and associates."
For customers of Kroger, the shopping experience will be greatly enhanced, as they gain further conveniences through the use of their own personal smart devices.
"Playing such a big role in the development of the next generation of the WiFi platform has been tremendous and the level of innovation we have seen from the entire team at Kroger is very impressive," said Andrew Skafel, President & CEO of Edgewater Wireless. "We are excited to continue to work with them as they prepare to bring new and never-before-seen innovation to their stores."
Edgewater will have its work cut out for them, as they roll out infrastructure across Kroger’s retail food stores, which total 2,793 locations across 35 states and the DC area—Serving 9 million customers every single day.
Endorsements are piling up for Edgewater, as it has already gained nods from European sports stadiums, as well as rising interest from leading internet providers in China.
As they advance their tech, Edgewater will likely see more fits with retailers, public spaces, and with other tech developers as well with complimentary technologies, including Nokia Corporation (NYSE: NOK), Intel Corporation (NASDAQ: INTC), VeriFone Systems, Inc. (NYSE: PAY), and Zebra Technologies Corporation (NASDAQ: ZBRA).
Going forward, there will be a growing number of opportunities for tech developers, in particular with advancements pertaining to the IoT, for years to come.
POTENTIAL COMPARABLES
Intel Corporation (NASDAQ: INTC)
Intel designs, manufactures, and sells computer, networking, and communications platforms worldwide. Moving towards the IoT, Intel introduced new low-power chipsets like the button-size Curie and the SD-card sized Edison, Atom Automotive chips for cars, and computer vision chips for autonomous vehicles and drones. Intel was founded in 1968 and is based in Santa Clara, California.
Nokia Corporation (NYSE: NOK)
Nokia provides network infrastructure and related services worldwide. On top of its specialty in cellphones and network hardware, Nokia provides software solutions, including customer experience management, network operations and management, communications and collaborations, policy and charging, as well as Cloud, Internet of Things, security, and analytics platforms; and submarine networks and radio frequency systems. Nokia was founded in 1865 and is headquartered in Espoo, Finland.
VeriFone Systems, Inc. (NYSE: PAY)
VeriFone provides payments and commerce solutions at the point of sale (POS) worldwide. It offers countertop solutions that accept payment options. Additionally, it offers omnichannel commerce, terminal management, and security solutions; and cloud-based managed, transaction payment, and other services. It serves financial institutions, payment processors, government organizations, and retailers; petroleum, transportation, and healthcare companies; and quick service restaurants. VeriFone Systems, Inc. is headquartered in San Jose, California.
Zebra Technologies Corporation (NASDAQ: ZBRA)
Founded in 1969, Zebra designs, manufactures, sells, and supports direct thermal and thermal transfer label printers, radio frequency identification (RFID) printer/encoders, dye sublimation card printers, real-time locating solutions, related accessories, and support software worldwide. In addition, it offers barcode scanners; specialty printers for barcode labeling and personal identification; real-time location systems; and related accessories and supplies. It serves retail, transportation and logistics, manufacturing, healthcare, and other end markets.
For a more in-depth look into Edgewater Wireless Systems Inc. (TSX.V: YFI) (OTC: KPIFF) you can view the in-depth report at USA News Group: http://usanewsgroup.com/2017/12/18/the-way-of-the-future-special-tests-on-new-wifi-technology/
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