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Smart packaging offers extended functionality and the effects of this are felt at every level within the supply chain through an increase in product traceability and information quality. The application possibilities for smart and connected packaging appear limitless, and forward-thinking brands and their packaging partners are constantly devising new ways to capitalise. Smart packaging can track inventory, mitigate losses, identify spoilage of food, inform customers when to take medications, offer vouchers and promotions, and engage and delight users.
Technology is best when it brings people together
Brands are looking to packaging to provide consumers with experiences in-store, at home, and online, and smart packaging is proving critical for bridging the virtual and physical worlds. Smart packaging enables marketing opportunities by bringing the online world's involvement and interaction to the customer journey, effectively influencing, and driving purchases. This type of content can boost brand engagement, enhance product usage, and add an immersive aspect to product interactions.
Smart and connected labels and packaging provide more than just a better user experience. Inventory management, product life-cycle tracking, brand protection, and product integrity are all added benefits for brands. Smart packaging is garnering significant investment from consumer-packaged goods manufacturers, industrial goods companies, and retailers, according to a recent Deloitte Consulting survey of over 400 industry leaders. The smart packaging market generated $23.5 billion in revenue in 2015 and is anticipated to reach $39.7 billion by 2022.
Integrating the digital and physical realms
When people discuss smart labels or intelligent packaging, they usually mean QR codes, NFC (Near Field Communication), and RFID (Radio Frequency Identification). These package solutions are intended to give hands-on experiences for clients and partners, as well as to assist brands in exploring the prospects surrounding intelligent labels, NFC, and RFID usage. Future packaging is dynamic and intelligent, thanks to augmented reality, and smart indications. Smart packaging will interconnect manufacturers, consumers, and retailers. Intelligent packaging has a different potential for every industry, product, and company, but one thing is certain — technology is an excellent tool for problem-solving.
Smart packaging is being utilised for security, detecting whether a package has been opened or tampered with, collecting market data, educating consumers through product engagement, gaining improved insights into stock levels for inventory management, and as a tracking tool. However, RFID is now starting to be deployed to determine the condition of food in the container, as well as to track patients' movements within the hospital, assuring their safe return from lab tests, x-rays, and other operations. In Europe, pharmaceutical packages increasingly include QR codes to aid in the fight against counterfeit medication. The applications for smart packaging are virtually limitless.
Expertise and innovation for the future
Smart packaging solutions enable brands to bring physical labels into the digital world, facilitating greater efficiencies, and unlocking a new channel to engage their consumers. For brands, smart packaging offers an easy way to verify stock levels, complete quality checks, and authenticate products. Additionally, smart packaging empowers organisations to stock count labels and packaging products directly from the SKU barcode and unlock new value within existing item-level stock counts, including leveraging QR scans to support consumer behaviour data collection. Smart packaging also offers more opportunities for customers to engage directly with brands through detailed product information, multimedia content, customised recommendations, recycling details, and more.
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