The Economist recently published its “Technology Quarterly” which, for my money, is one of the best ways for a lay person to stay abreast of the amazing changes under-foot in technology. A case-in-point is this insightful article, ”Machines that can see.” I recommend every retail client read it.
On the more practical side, retailers and food manufacturers are now using technology (in the form of expression-analysis software) to pinpoint how testers really react to new foods—as opposed to simply relying on what the testers say they thought about the new product. Longer-term, the same software will help advertisers target ads to individual customers in the grocery store. For example, beardless men will receive ads for razors.
Why it is even predicted that the technology will soon help prevent “sweethearting” and bar-code switching.
In a business with razor-thin margins, this is just the type of technology that could make or break a retailer.
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