IoT (internet of things) technology is changing the retail shopping experience. Amazon Go allows consumers to walk out the door with merchandise, unhindered by the age-old checkout process we’ve come to accept. The grocery chain Wegmans uses merchandise tracking and location to upgrade the customer experience. These forward-thinking retailers are dictating to product manufacturers. Think of it as a high-tech version of what WalMart has done for years in dictating SKU sizes, pricing and other product characteristics.
What if the CPG manufacturers took the lead in controlling their fate by defining a better consumer experience both in the store and at home? A vision of the not-too-distant future leverages a strong understanding of the consumer, the application of developing technology and a good dose of imagination to create customized, relevant and rewarding experiences via packaging. Here’s how IoT technology may impact package innovation in ways that can dramatically transform the benefits consumers derive from packaged goods.