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Retail prices can jump in seconds with high-tech store price tags

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Retail prices can jump in seconds with high-tech store price tags

Have you noticed how technology is rapidly transforming our shopping experiences? From online marketplaces to self-checkout kiosks, the retail landscape is evolving at breakneck speed. Today, let’s explore one of the latest innovations set to shake up the way we shop for everyday items: digital price tags.

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Digital price tag (Walmart) (Kurt “CyberGuy” Knutsson)

The rise of smart pricing

Imagine walking into a store where prices change in real time, just like they do on your favorite shopping websites. Well, that future is closer than you might think. Retailers across the globe are experimenting with dynamic pricing systems, bringing the flexibility of online shopping to brick-and-mortar stores.

Retail prices can jump in seconds with high-tech store price tags

Digital price tags (Walmart) (Kurt “CyberGuy” Knutsson)

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What’s driving this change?

Several factors are propelling this shift towards digital pricing. Stores can update thousands of prices instantly, saving time and labor. This improves accuracy, eliminating discrepancies between shelf prices and checkout totals. The system also allows retailers to quickly respond to market changes or competitor pricing. Additionally, there’s a sustainability angle, as digital tags reduce paper waste from traditional price tags.

Retail prices can jump in seconds with high-tech store price tags

Digital price tag (Walmart) (Kurt “CyberGuy” Knutsson)

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The technology behind the change

Electronic shelf labels (ESLs) or digital shelf labels (DSLs) are at the heart of this retail revolution. These small, battery-powered e-paper displays are wirelessly connected to a central system, allowing for quick and easy price updates. But they’re more than just digital price tags; they’re a gateway to a more interactive shopping experience.

Retail prices can jump in seconds with high-tech store price tags

Digital price tags (Walmart) (Kurt “CyberGuy” Knutsson)

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What can these smart labels do?

These smart labels are multifunctional devices. They can display prices and product information, show QR codes for additional details, guide store employees for restocking and assist with order fulfillment for online purchases. It’s like giving each product its own mini-computer.

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Retail prices can jump in seconds with high-tech store price tags

Showing how smart labels are multifunctional devices (Walmart) (Kurt “CyberGuy” Knutsson)

The potential impact on shoppers

This new technology could bring both benefits and challenges for consumers. On the plus side, we can expect more accurate pricing and the potential for better deals on soon-to-expire items. Shoppers will have access to more product information right at their fingertips.

There’s also a possibility of lower prices due to increased store efficiency. However, it’s not all rosy. We might see the introduction of dynamic pricing, similar to surge pricing in ride-sharing apps. This could lead to rapid price fluctuations. There are also privacy concerns with the increased data collection that comes with these systems.

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Retail prices can jump in seconds with high-tech store price tags

Digital price tags (Walmart) (Kurt “CyberGuy” Knutsson)

Real-world examples: Who’s leading the charge?

Now that we’ve covered the basics, let’s look at some specific examples of how this technology is being implemented. America’s largest retailer, Walmart, recently announced plans to introduce digital shelf labels in 2,300 stores by 2026. Given Walmart’s massive market share in the U.S. grocery sector, this move could expose millions of shoppers to the technology.

According to Daniela Boscan, a Walmart food and consumable team lead, “A price change that used to take an associate two days to update now takes only minutes with the new DSL system. This efficiency means we can spend more time assisting customers and less time on repetitive tasks.”

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While Walmart’s announcement made headlines, they’re not the first to experiment with this technology. Other major players include Kroger, Whole Foods (owned by Amazon), Ahold Delhaize, and Schnucks, a Midwestern chain. A recent market study estimates that about 26% of grocers and general merchandisers were capable of using ESL technology in 2023, indicating a growing trend in the industry.

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Retail prices can jump in seconds with high-tech store price tags

Employee scanning digital price tag (Walmart) (Kurt “CyberGuy” Knutsson)

The great price-tag switcheroo

When a store decides to make the leap from traditional paper tags to digital ones, it’s not just a simple overnight change. It’s a massive undertaking that requires careful planning and execution. Picture this: a small army of workers descending upon the store, armed with digital price tags and determination.

These “price tag transformers” swarm the aisles, systematically replacing each paper tag with its high-tech counterpart. Shelf by shelf, aisle by aisle, the store undergoes a visible transformation. The familiar sight of paper tags gradually gives way to the sleek, uniform appearance of digital displays.

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Retail prices can jump in seconds with high-tech store price tags

Changing out paper tags for digital ones (Pricer) (Kurt “CyberGuy” Knutsson)

The bigger picture: Dynamic pricing everywhere

The adoption of digital price tags in grocery stores is part of a larger trend toward dynamic pricing in various industries. We’ve already seen this in ride-sharing apps like Uber and Lyft, airline tickets, live music, event sales and fast food, as evidenced by the recent Wendy’s controversy. This shift raises questions about how consumers will adapt to more fluid pricing structures in their day-to-day purchases.

Retail prices can jump in seconds with high-tech store price tags

Digital price tags (Walmart) (Kurt “CyberGuy” Knutsson)

Kurt’s key takeaways

As we stand on the brink of this digital revolution in retail, it’s important to consider both the opportunities and the challenges it presents. On one hand, the increased efficiency and flexibility could lead to better shopping experiences and potentially lower prices. On the other hand, the introduction of dynamic pricing to everyday purchases might require a shift in how we approach our shopping habits.

As this technology rolls out, it’s crucial for you to stay informed and adapt your shopping strategies accordingly. Monitor price trends, take advantage of additional product information and provide feedback to retailers about your experiences.

What’s your take on this digital retail revolution? Are you excited about the potential benefits or concerned about the challenges? Let us know by writing us at Cyberguy.com/Contact.

For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Cyberguy.com/Newsletter.

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Google is purging ‘low-quality’ Android apps next month

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Google is purging ‘low-quality’ Android apps next month

Google is raising its minimum quality requirements for Android apps, and will soon remove those that don’t meet expectations from the Play Store. According to the company’s latest spam policy update, apps that demonstrate “limited functionality and content” — such as text only apps, single wallpaper apps, or those that are literally designed to do nothing at all — will no longer be permitted on the Play Store effective August 31st.

These join existing restrictions that barred broken apps that are not responsive, don’t install, crash, or otherwise function abnormally. Google says it’s added the additional requirements to “ensure apps can meet the uplifted standards for the Play catalog and engage users through quality functionality.”

Google has made previous efforts to better police the apps hosted on its Play Store. As noted by Android Authority, as many as 2.28 million apps were blocked from the service in 2023 for violating policies and putting user security at risk. Google also said it had banned 333,000 “bad” Google Play accounts that same year for repeated severe policy violations, and concerns surrounding fraud and malware.

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FTC blasts Microsoft’s new “degraded” Xbox Game Pass Standard tier and price increases

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FTC blasts Microsoft’s new “degraded” Xbox Game Pass Standard tier and price increases

The Federal Trade Commission (FTC) has blasted Microsoft’s Xbox Game Pass price increases in a filing to the US Court of Appeals for the Ninth Circuit. Microsoft revealed last week that it’s increasing PC Game Pass and Xbox Game Pass Ultimate prices, and planning to launch a new Game Pass Standard tier soon without day one access to first-party Xbox games.

The FTC calls this new Game Pass Standard tier a “degraded product,” because new Game Pass users won’t be able to sign up to the $10.99 Game Pass for Console, which includes day one game access. Instead, Xbox Game Pass Standard will be priced at $14.99 and won’t include day one games, but will include online multiplayer.

“Microsoft’s price increases and product degradation — combined with Microsoft’s reduced investments in output and product quality via employee layoffs — are the hallmarks of a firm exercising market power post-merger,” says FTC in a filing today. “Product degradation — removing the most valuable games from Microsoft’s new service — combined with price increases for existing users, is exactly the sort of consumer harm from the merger the FTC has alleged.”

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Toys 'R' Us AI-generated ad sparks fear, fascination

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Toys 'R' Us AI-generated ad sparks fear, fascination

Remember the days of walking into a Toys “R” Us store? The endless aisles of toys, the excitement of spotting the latest must-have item and the towering presence of Geoffrey the Giraffe?

Well, the iconic toy retailer is back, and it’s not just reopening stores. It’s embracing cutting-edge artificial intelligence technology to tell its origin story in a way that’s as innovative as it is nostalgic.

Toys “R” Us AI-generated film (Toys “R” Us Studios)

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In a move that’s turning heads in both the marketing and tech worlds, Toys “R” Us has partnered with creative agency Native Foreign to create a groundbreaking brand film. But this isn’t your average promotional video. It’s been crafted using OpenAI’s Sora, a text-to-video AI tool that’s pushing the boundaries of what’s possible in content creation.

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Sora is a technological innovation capable of generating up to one-minute-long videos featuring realistic scenes and multiple characters, all from text instructions. It’s like having an entire film studio at your fingertips, ready to bring your wildest ideas to life with just a few well-chosen words.

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Toys “R” Us AI-generated film (Toys “R” Us Studios)

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The story of Toys ‘R’ Us founder Charles Lazarus

The 66-second promo takes us on a journey back to the 1930s, following young Charles Lazarus, the visionary founder of Toys “R” Us. We’re transported to an old-time bicycle shop, where we see Lazarus dreaming of transforming the toy industry. As he drifts off to sleep, the video seamlessly transitions into a magical dreamscape filled with toys of all shapes and sizes, presided over by the beloved mascot, Geoffrey the Giraffe.

It’s a clever narrative device that not only tells the Toys “R” Us origin story but also captures the childlike wonder and imagination that the brand has always represented. By blending historical elements with fantastical imagery, the video manages to appeal to both nostalgic adults and wide-eyed children.

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Toys “R” Us AI-generated film (Toys “R” Us Studios)

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The making of the AI-generated film

Creating this film was no simple task, despite the advanced capabilities of Sora. The team at Native Foreign, led by chief creative officer Nik Kleverov, wrote lengthy, detailed prompts for each scene. They had to carefully balance historical accuracy with modern appeal, ensuring that early scenes captured the essence of the 1920s and 1930s while later dreamscape sequences felt contemporary enough to resonate with today’s young audiences.

This meticulous attention to detail highlights an important point: while AI tools like Sora are incredibly powerful, they still require skilled human guidance to produce truly compelling content. The technology may be new, but the art of storytelling remains a fundamental human endeavor.

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Toys “R” Us AI-generated film (Toys “R” Us Studios)

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The rebirth of a retail toy giant

This innovative video project is more than just a technological showcase; it’s part of a broader turnaround plan for Toys “R” Us. After filing for bankruptcy in 2018 and closing its stores, many thought the beloved brand was gone for good. But in 2021, Toys “R” Us was acquired by WHP Global, a firm specializing in managing and expanding retail companies.

Now, Toys “R” Us is making a comeback that’s as much about reimagining the brand for the 21st century as it is about rekindling nostalgia. They’ve opened new flagship stores in high-profile locations like Minnesota’s Mall of America and New Jersey’s American Dream Mall. Perhaps most significantly, they’ve partnered with Macy’s to open Toys “R” Us sections in every Macy’s location across the United States.

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This multipronged approach – combining innovative marketing, strategic partnerships and a carefully curated retail presence – demonstrates the brand’s commitment to remaining relevant in an ever-changing retail landscape.

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Toys “R” Us AI-generated film (Toys “R” Us Studios)

Mixed reactions to Toys ‘R’ Us AI-generated film

As with any technology, the AI-generated film has sparked diverse reactions on social media. Some viewers have praised it as an innovative and creative way to tell stories that would be difficult or impossible to capture through traditional filmmaking methods. They see it as an exciting glimpse into the future of content creation, where imagination is the only limit.

Others, however, have expressed reservations. Some found the AI-generated characters “creepy,” falling into the infamous “uncanny valley” where digital renderings of humans are close to realistic but just off enough to be unsettling. Others noticed inconsistencies in the AI-generated images, highlighting the current limitations of the technology.

These mixed reactions underscore the ongoing challenges and opportunities in AI-generated content. As the technology continues to evolve, it will be fascinating to see how creators address these issues and refine their techniques.

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Toys “R” Us AI-generated film  (Toys “R” Us Studios)

The broader implications: AI in marketing and beyond

The Toys “R” Us AI-generated brand film represents more than just a single company’s marketing strategy: It’s a significant milestone in the evolving landscape of content creation and brand storytelling.

As AI tools like Sora become more sophisticated and widely available, we will likely see an increase in AI-generated content across various industries. This could democratize content creation, allowing smaller brands and creators to produce high-quality visual content at a fraction of the traditional cost.

However, it also raises important questions about the future of creative industries. Will AI-generated content supplement or replace human-created work? How will we navigate issues of copyright and intellectual property in an age where any image or scene can be conjured from a text prompt? And how will audiences’ expectations and perceptions of visual media evolve as AI-generated content becomes more commonplace?

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Toys “R” Us AI-generated film (Toys “R” Us Studios)

Kurt’s key takeaways

The Toys “R” Us AI-generated brand film represents a bold step into a new frontier of marketing, one where the lines between human creativity and artificial intelligence are increasingly blurred. As we move forward, it will be fascinating to see how brands balance the efficiency and innovation of AI with the human touch that connects with audiences on an emotional level. The most successful campaigns are likely to be those that use AI as a tool to enhance and amplify human creativity, rather than replace it entirely.

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One thing’s for sure, whether you’re excited or skeptical about AI in marketing, this project has certainly got people talking. And for a brand looking to recapture the public’s imagination after a period of uncertainty, that might be the most valuable outcome of all.

What do you think about AI-generated content like this Toys “R” Us video? Do you embrace it or have reservations about its impact on creative industries? Let us know in the comments below. Let us know by writing us at Cyberguy.com/Contact.

For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Cyberguy.com/Newsletter.

Ask Kurt a question or let us know what stories you’d like us to cover.

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Copyright 2024 CyberGuy.com. All rights reserved.

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