Avery Dennison Expands RFID Adoption in Grocery Retail Industry
Avery Dennison (NYSE: AVY) has announced a collaboration with The Kroger Co. to implement RFID inventory automation technology in grocery retail. This partnership aims to enable item-level digital identification, improving inventory accuracy, maximizing freshness, reducing waste, and optimizing associates' time.
The initiative will begin in Kroger's bakery department, using RFID-embedded labels on each item. This strategic move is expected to provide significant time savings and valuable data for automating inventory management and freshness optimization. It serves as a foundational step towards enhancing customer and associate experiences across all fresh categories in the long term.
Jordan Poff, VP of retail operations at Kroger, emphasized that this collaboration will improve inventory visibility, ensuring products are available when customers want them while allowing associates to spend more time with customers. Julie Vargas, VP and GM of identification solutions at Avery Dennison, highlighted the company's commitment to connecting physical products with digital identities to improve data accuracy and efficiency in retail operations.
Avery Dennison (NYSE: AVY) ha annunciato una collaborazione con The Kroger Co. per implementare la tecnologia di automazione dell'inventario RFID nel settore della vendita al dettaglio alimentare. Questo partenariato mira a consentire una identificazione digitale a livello di articolo, migliorando l'accuratezza dell'inventario, massimizzando la freschezza, riducendo gli sprechi e ottimizzando il tempo degli associati.
L'iniziativa inizierà nel reparto panetteria di Kroger, utilizzando etichette incorporate con RFID su ciascun articolo. Questa mossa strategica si prevede fornirà risparmi di tempo significativi e dati preziosi per automatizzare la gestione dell'inventario e l'ottimizzazione della freschezza. Rappresenta un passo fondamentale verso il miglioramento delle esperienze dei clienti e degli associati in tutte le categorie fresche nel lungo termine.
Jordan Poff, VP delle operazioni retail di Kroger, ha sottolineato che questa collaborazione migliorerà la visibilità dell'inventario, assicurando che i prodotti siano disponibili quando i clienti li desiderano, consentendo allo stesso tempo agli associati di dedicare più tempo ai clienti. Julie Vargas, VP e GM delle soluzioni di identificazione in Avery Dennison, ha evidenziato l'impegno dell'azienda a collegare i prodotti fisici con le identità digitali per migliorare l'accuratezza dei dati e l'efficienza nelle operazioni al dettaglio.
Avery Dennison (NYSE: AVY) ha anunciado una colaboración con The Kroger Co. para implementar la tecnología de automatización de inventarios RFID en el comercio minorista de alimentos. Esta asociación tiene como objetivo habilitar la identificación digital a nivel de artículo, mejorando la precisión del inventario, maximizando la frescura, reduciendo el desperdicio y optimizando el tiempo de los asociados.
La iniciativa comenzará en el departamento de panadería de Kroger, utilizando etiquetas con RFID incrustado en cada artículo. Este movimiento estratégico se espera que proporcione ahorros de tiempo significativos y datos valiosos para automatizar la gestión de inventarios y la optimización de la frescura. Es un paso fundamental hacia la mejora de las experiencias de los clientes y asociados en todas las categorías frescas a largo plazo.
Jordan Poff, VP de operaciones minoristas en Kroger, enfatizó que esta colaboración mejorará la visibilidad del inventario, asegurando que los productos estén disponibles cuando los clientes los quieran, al tiempo que permite a los asociados pasar más tiempo con los clientes. Julie Vargas, VP y GM de soluciones de identificación en Avery Dennison, destacó el compromiso de la empresa de conectar productos físicos con identidades digitales para mejorar la precisión de los datos y la eficiencia en las operaciones minoristas.
Avery Dennison (NYSE: AVY)는 The Kroger Co.와 협력하여 식료품 소매업에서 RFID 재고 자동화 기술을 구현한다고 발표했습니다. 이 파트너십은 항목 수준의 디지털 식별을 가능하게 하여 재고 정확성을 개선하고, 신선도를 극대화하며, 폐기물을 줄이고, 직원들의 시간을 최적화하는 것을 목표로 합니다.
이 이니셔티브는 Kroger의 제과 부서에서 시작되며, 각 품목에 RFID가 내장된 라벨을 사용합니다. 이 전략적 움직임은 재고 관리 및 신선도 최적화를 자동화하기 위한 상당한 시간 절약과 가치 있는 데이터를 제공할 것으로 예상됩니다. 이는 장기적으로 모든 신선 식품 카테고리에서 고객 및 직원 경험을 향상시키기 위한 기초적인 단계입니다.
Kroger의 소매 운영 VP인 Jordan Poff는 이 협업이 재고 가시성을 향상시켜 고객이 원하는 제품을 언제든지 이용할 수 있도록 보장하며, 직원들이 고객과 더 많은 시간을 보낼 수 있도록 한다고 강조했습니다. Avery Dennison의 식별 솔루션 VP이자 GM인 Julie Vargas는 데이터 정확성과 소매 운영의 효율성을 개선하기 위한 물리적 제품과 디지털 정체성을 연결하는 회사의 약속을 강조했습니다.
Avery Dennison (NYSE: AVY) a annoncé une collaboration avec The Kroger Co. pour mettre en œuvre la technologie d'automatisation des inventaires RFID dans le commerce de détail alimentaire. Ce partenariat vise à permettre une identification numérique au niveau de l'article, améliorant la précision des stocks, maximisant la fraîcheur, réduisant le gaspillage et optimisant le temps des employés.
L'initiative commencera dans le département boulangerie de Kroger, utilisant des étiquettes intégrées avec RFID sur chaque article. Ce mouvement stratégique devrait fournir des économies de temps significatives et des données précieuses pour automatiser la gestion des stocks et optimiser la fraîcheur. Cela constitue une étape fondamentale vers l'amélioration des expériences clients et employés dans toutes les catégories fraîches à long terme.
Jordan Poff, VP des opérations de détail chez Kroger, a souligné que cette collaboration améliorera la visibilité des stocks, garantissant que les produits sont disponibles lorsque les clients les souhaitent, tout en permettant aux employés de passer plus de temps avec les clients. Julie Vargas, VP et GM des solutions d'identification chez Avery Dennison, a mis en avant l'engagement de l'entreprise à relier les produits physiques à des identités numériques pour améliorer l'exactitude des données et l'efficacité des opérations de détail.
Avery Dennison (NYSE: AVY) hat eine Zusammenarbeit mit The Kroger Co. angekündigt, um RFID-Inventarautomatisierungstechnologie im Lebensmittel-Einzelhandel zu implementieren. Diese Partnerschaft zielt darauf ab, die digitale Identifizierung auf Artikel-Ebene zu ermöglichen, die Bestandsgenauigkeit zu verbessern, die Frische zu maximieren, Abfälle zu reduzieren und die Zeit der Mitarbeiter zu optimieren.
Die Initiative wird in der Bäckereiabteilung von Kroger beginnen, indem RFID-eingebettete Etiketten an jedem Artikel verwendet werden. Dieser strategische Schritt wird voraussichtlich erhebliche Zeitersparnisse und wertvolle Daten zur Automatisierung des Inventarmanagements und zur Optimierung der Frische bieten. Er dient als grundlegender Schritt zur Verbesserung der Kunden- und Mitarbeitererfahrungen in allen frischen Kategorien auf lange Sicht.
Jordan Poff, VP der Einzelhandelsoperationen bei Kroger, betonte, dass diese Zusammenarbeit die Sichtbarkeit des Inventars verbessern wird, um sicherzustellen, dass Produkte verfügbar sind, wenn Kunden sie möchten, während die Mitarbeiter mehr Zeit mit den Kunden verbringen können. Julie Vargas, VP und GM der Identifizierungslösungen bei Avery Dennison, hob das Engagement des Unternehmens hervor, physische Produkte mit digitalen Identitäten zu verbinden, um die Datenintegrität und Effizienz in den Einzelhandelsoperationen zu verbessern.
- Collaboration with major retailer Kroger to implement RFID technology
- Potential for improved inventory accuracy and reduced waste
- Expansion into the grocery retail industry
- Opportunity for long-term growth across fresh food categories
- None.
Insights
Avery Dennison's collaboration with Kroger marks a significant advancement in RFID technology adoption within the grocery retail sector. This partnership aims to revolutionize inventory management, particularly in fresh food departments, starting with bakery items. The implementation of RFID-embedded labels will enable real-time, item-level tracking, which is important for improving inventory accuracy and reducing waste.
The technology promises to optimize associate productivity by automating inventory counts, allowing staff to focus more on customer service. For Avery Dennison, this deal represents a major expansion into the grocery segment, potentially opening doors for similar partnerships with other retailers. The success of this initiative could lead to a broader adoption of RFID technology across Kroger's fresh food categories, significantly impacting Avery Dennison's market position in the retail technology space.
While the immediate financial impact may be , the long-term potential for revenue growth and market expansion is substantial. Investors should monitor the rollout's success and any announcements of expanded implementation across Kroger's vast network of stores.
This partnership between Avery Dennison and Kroger is a strategic move that could reshape the competitive landscape in grocery retail technology. The adoption of RFID for item-level tracking in fresh foods addresses critical pain points in the industry, including inventory accuracy, waste reduction and labor efficiency. These are areas where even marginal improvements can translate to significant cost savings and revenue opportunities for large-scale retailers like Kroger.
For Avery Dennison, this collaboration serves as a high-profile showcase for their RFID solutions in a challenging retail environment. Success here could accelerate adoption across the grocery sector, potentially leading to a new growth vertical for the company. The initial focus on bakery items suggests a cautious, phased approach, which is prudent given the complexities of fresh food inventory management.
Investors should view this as a positive indicator for Avery Dennison's long-term growth strategy, particularly in expanding their digital solutions portfolio. However, it's important to note that the full financial impact will likely materialize gradually as the technology proves its value and expands to other departments and possibly other retailers.
Kroger will use RFID sensors to enable item-level digital identification for greater inventory accuracy to maximize freshness, reduce waste and optimize associates’ time
Avery Dennison Expands RFID Adoption in Grocery Retail Industry (Photo: Business Wire)
“Kroger’s customers and associates are at the heart of everything we do,” said Jordan Poff, vice president of retail operations at Kroger. “Our work with Avery Dennison will improve inventory visibility, which means products will be on the shelves when our customers want them, while enabling our associates to spend more time with our customers.”
This strategic collaboration will begin in the bakery department, implementing RFID-embedded labels on each item, providing significant time savings and valuable data to automate inventory management and freshness optimization. It is a foundational step in delivering a more seamless customer and associate experience across all fresh categories long term.
Julie Vargas, vice president and general manager of identification solutions affirms, “For decades, Avery Dennison has been the driving force behind connecting physical products with a digital identity to unlock data accuracy and efficiency in retail and supply chain operations. With this collaboration, we are committed to Kroger’s initiatives to optimize associate time, reduce waste from overproduction and ultimately deliver a uniquely valuable customer experience.”
For more information about how Avery Dennison is driving innovation in the food industry through RFID, visit www.identificationsolutions.averydennison.com
About Avery Dennison
Avery Dennison Corporation (NYSE: AVY) is a global materials science and digital identification solutions company that provides a wide range of branding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance sustainability, circularity and transparency, and better connect brands and consumers. Our products and solutions include labeling and functional materials, radio frequency identification (RFID) inlays and tags, software applications that connect the physical and digital, and a variety of products and solutions that enhance branded packaging and carry or display information that improves the customer experience. Serving an array of industries worldwide — including home and personal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals and automotive — we employ approximately 35,000 employees in more than 50 countries. Our reported sales in 2023 were
About Kroger
At The Kroger Co., we are dedicated to our Purpose: To Feed the Human Spirit™. We are, across our family of companies nearly half a million associates who serve over 11 million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities by 2025. To learn more about us, visit our newsroom and investor relations site.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241022270226/en/
John Eble
Vice President, Finance and Investor Relations
investorcom@averydennison.com
Kristin Robinson
Vice President, Global Communications
kristin.robinson@averydennison.com
Source: Avery Dennison Corporation
FAQ
What is the purpose of Avery Dennison's collaboration with Kroger?
Where will Kroger first implement Avery Dennison's RFID technology?
How will Avery Dennison's RFID technology benefit Kroger's operations?
What is Avery Dennison's stock symbol?
