Smartrac and Compass Jointly Provide a Revolutionary Customer Experience, Supporting McKinsey’s “Modern Retail Collective” Store
Amsterdam (The Netherlands) / Annapolis (MD, USA), October 2, 2019 – Smartrac Technology Group, a global RFID and IoT market leader, and Compass Marketing, a leading solutions provider for the CPG industry, are jointly supporting “Modern Retail Collective”, a store developed by McKinsey and Company, and Mall of America. Through Compass’ SRL Network, Smartrac's superior-quality NFC tags, and complementary retail technologies, customers can enjoy a digital customer experience that is revolutionary for brick-and-mortar stores.
On September 27, 2019, Modern Retail Collective opened its doors within the iconic Mall of America in Bloomington, Minnesota, USA. Designed and developed by McKinsey and Company, a global management consulting firm deeply committed to helping institutions in the private, public and social sectors to achieve lasting success, Modern Retail Collective is a first-of-its-kind retail store. It offers customers a blended eCommerce and physical experience while providing retailers a turnkey space to test, iterate and learn from the latest retail innovations.
Smartrac's NFC technology for smooth and easy interaction
Through Smartrac's innovative NFC technology embedded in Smart Retail Label (SRL) tags attached to the consumer products, customers in the retail store can interact with an eCommerce-like platform through their smartphone and without the need for an app. With a simple tap of their smartphone on the SRL tag, customers are able to access product details, and in the very near future will be able to build a virtual shopping cart and check out through third party integrated solutions. The value of Smartrac’s RFID technology is further enhanced by Microsoft’s Cloud platform Azure, and the company’s tag data services to record and manage a complete set of unique transponder data (e.g. UID no., order no., batch no., or yield) at production level in a controlled and secure way. As the backbone of Smartrac’s core competency, its product digitization solutions enable full traceability of delivered RFID products and provide reliable quality assurance.
Smartrac’s CIRCUSTM NFC inlays equipped with NXP’s NTAG 213 ICs are the basis for the SRL tags used in the retail store. As of today, Smartrac is the only RFID inlay manufacturer providing NFC technology to this store.
Smart Retail Network for a highly innovative buying experience
The enhanced customer experience, supported by and hosted on Microsoft’s secure Azure Cloud, is the first major launch of the Smart Retail Label Network, a system of tech and marketing built by Compass Marketing, and intertwined to create a more transparent and informative shopping experience in brick-and-mortar retail stores. By simply tapping a smartphone on SRL tags found throughout the store, shoppers can enjoy app-less access to digital content for an enhanced buying experience in store.
“Consumer buying habits have changed and the industry is just now beginning to catch up,” said John White, CEO of Compass Marketing, Inc. “They’re tired of just being talked at and are now looking to be an active participant in the conversation between the retailers and brands they are incorporating into their lives. SRLs make this possible through the mobile devices consumers are already using while in the store.”
“Just like our partner Compass Marketing, we are strongly committed to providing the retail industry with the tools it needs to successfully tackle the challenges of the future. We are proud and very pleased that our high-quality NFC products as well as our services based on Microsoft Azure have found their way into this store of the future, and we will reward the trust placed in us by deploying products that offer the utmost performance, reliability and quality,” said Amir Mobayen, President Transponder Division and Chief Revenue Officer at Smartrac.
“Retail has long been overdue for a shakeup,” said Colin Wright, Global Solutions Director at Microsoft. “Communication has been siloed for too long. The introduction of the two-way SRL Network enabled by Smartrac’s technology expertise breaks down this one-way dynamic and delivers to the customer what they want: active, real-time communication, and curated content.”
PHOTO CREDITS: McKinsey & Company
About Compass Marketing, Inc. and the SRL Network:
Compass is a leading provider of marketing and technology solutions for the CPG industry. The SRL Network has been built over five years, and includes partners like Microsoft, Powershelf and Smartrac, leading consumer brands with integrated solutions to provide two-way real-time communication to software-enabled applications and devices. The highly advanced AI platform affords retailers and manufacturers the opportunity to improve their operational efficiency, reduce out-of-stock (OOS) incidents, manage pricing and promotions electronically, improve demand forecasting, reduce waste, communicate directly to consumers, and ultimately lower prices of goods. Visit www.iotsmartretail.comfor more information.
About Smartrac:
Smartrac is a global market leader in RFID products and IoT solutions, providing both ready-made and
customized offerings. We make products smart, and enable businesses to digitize, identify, authenticate, track
and complement products and solutions. Our portfolio is used in a wide array of applications such as animal identification, automation, automotive, brand protection, customer experience, industry, library and media management, logistics, retail, supply chain management and many more. Leveraging our global Research & Development Centers, production and sales network, and IoT solutions platform Smart Cosmos®, we embed intelligence into physical products, empowering the ecosystem of connected things. Smartrac received ARC Quality Certification from Auburn University’s RFID Lab for the design and manufacturing of its RFID inlays. Smartrac has its registered headquarters in Amsterdam, the Netherlands. For more information, visit www.smartrac-group.com, follow Smartrac on Twitter, Linkedin or sign up for a quarterly newsletter.