November 26, 2024 Industry news
Demand for greater data transparency is at an all-time high. Consumers want to know more about the products they're buying so they can make informed decisions, and better data is needed across retail supply chains to improve product safety, reduce waste and drive efficiencies.
Already, retailers and brands are beginning to leverage the latest tech and data tools, such as QR codes powered by GS1, to improve transparency and connect with shoppers on a deeper level.
At the Retail Week Innovation Summit 2024, we had the pleasure of joining key retail leaders for a panel discussion exploring they ways businesses can harness rich data to elevate both the consumer experience and supply chain operations.
Featuring prominent speakers including Alice Perkins, global head of digital transformation at Diageo, Matthew Rhind, development and transformation director at Tesco and Iain Walker, director of industry engagement at GS1, the session provided valuable insights into how forward-thinking companies can embrace data-driven approaches to drive meaningful change. Read on for a summary of the key insights shared.
Matthew Rhind, development and transformation director at Tesco
Optimising supply chains with AI at Tesco
Matthew Rhind, development and transformation director at Tesco, discussed the retailer’s innovative solutions for improving supply chain efficiency. "We serve millions of customers and work with thousands of suppliers," he said, highlighting the complexity of ensuring product availability. To address this, Tesco has turned to AI, which has become integral to their daily operations. "AI has significantly improved the accuracy of our daily ordering processes," Matthew explained. Using AI to forecast demand has helped Tesco automate inventory management and optimise product ordering.
Matthew shared how Tesco also use predictive analytics to forecast shifts in customer demand.
"We use weather data to understand buying behaviours, as demand can vary depending on conditions," he noted.
This data-led approach enhances stock management, ensuring the right products are available when customers need them most.
He also emphasised the importance of minimising food waste, especially during peak periods. "Our AI-powered ordering system helps ensure we reduce excess stock, contributing to sustainability and reducing food waste."
Alice Perkins, global head of digital transformation at Diageo
Digital transformation and breaking “data silos” at Diageo
Alice Perkins, representing Diageo, shared how the company is leveraging data to create better customer experiences and improve operational efficiency. "A key focus for us is leveraging the data we already have," she explained before emphasising that breaking down data silos is key to enhancing collaboration across departments. "In the CPG space, connecting media data with supply chain data has traditionally been challenging," she said. Integrating these data streams allows Diageo to align marketing efforts with supply chain needs, ensuring that media campaigns are targeted at products that are available in stock.
Alice also spoke about Diageo’s use of AI to personalise customer experiences through their Blueprint platform.
"Blueprint is an AI-driven platform that maps your taste palate by learning from your preferences in food and drink," she said. This platform allows Diageo to recommend products based on individual tastes, helping to provide a more personalised shopping experience.
Iain Walker, director of industry engagement at GS1 UK
Leveraging GS1 standards for data transparency
Iain Walker, director of industry engagement at GS1 UK, emphasised the importance of GS1’s data standards in driving efficiency and collaboration. "Our goal at GS1 is to bring the industry together to solve challenges by acting collectively, helping businesses across sectors improve operations through standardised data and ensuring consistent, reliable information is captured and shared across the supply chain” Iain explained.
A key area of focus for GS1 is the use of 2D barcodes, most commonly in the form of QR codes powered by GS1, which can store much more data than their linear predecessors. “This opens up new possibilities for capturing and sharing detailed product information” he said.
“At the core of our work is ensuring that data from all stakeholders—retailers, brands, SMEs, and even regulators—can be seamlessly integrated and shared across the supply chain. This is where standards play a vital role, ensuring that data across the system remains consistent and connected. “These barcodes aren’t just linking to any online content” he continued.
“They’re connecting to standardised, trusted information. Just like how GS1 standards are used for product identification across the supply chain, QR codes with GS1’s standards link to data that is connected and reliable. This ensures that the data is accurate and consistent, no matter where you are in the entire supply chain, making it easier to manage and use," he added.
QR codes and supply chain efficiency
Matthew then discussed how Tesco is now using QR codes powered by GS1 in their supply chain. "QR codes allow us to gather valuable insights into how customers are interacting with products," he said, describing how customers can now scan QR codes to access detailed product information.
"QR codes not only improve customer engagement but also optimise inventory management and reduce food waste," he noted. This innovation is helping Tesco streamline its operations, ensuring products are readily available where needed and reducing the risk of excess or expired stock.
Innovating for accessibility and inclusion
The panel also examined how technology is improving accessibility in retail. Alice shared Diageo's initiatives with the Royal National Institute of Blind People (RNIB), sharing notable examples from Ketel One vodka and Baileys.
"Ketel One is the first brand to offer QR codes that provide detailed product information and instructions when scanned," she explained.
This helps blind and partially sighted customers engage more fully with products. Baileys has similarly integrated audio descriptions of their products. "These descriptions offer a richer, more inclusive experience than traditional product labels" she added.
Iain praised these efforts, noting that accessibility is an important part of creating a more inclusive consumer experience. "The potential for accessible technologies such as QR codes is immense. It’s not just about making products accessible; it’s about creating a better experience for everyone," he said.
Prioritising technology investments for growth
As the discussion drew to a close, the panellists shared their thoughts on how businesses should prioritise technology investments. Iain emphasised the importance of balancing short-term problem-solving with long-term innovation. "In the short term, businesses should focus on organising and leveraging existing data," he advised. "For long-term growth, the real opportunity lies in using that data to connect with consumers in new and innovative ways."
Alice agreed, noting that solving real-world problems is essential for driving growth. "Reducing friction and streamlining processes directly leads to growth," she said. “By improving the efficiency and effectiveness of customer interactions, businesses can create smoother experiences that drive loyalty and revenue.”
Looking to the future
Iain concluded with a thought-provoking challenge for industry leaders: "Think about the data embedded in barcodes. It’s often overlooked, but barcodes are some of the most ubiquitous and powerful tools in business today," he said. "The next evolution of this data is an opportunity we can seize today."
The panel concluded that while technology and data are essential for operational efficiency, it is the human-centred approach to innovation—focused on solving real-world challenges for both businesses and consumers—that will drive lasting progress.
By embracing data transparency, improving accessibility, and investing in AI-driven personalisation, companies can enhance the customer experience, reduce waste, and create the more sustainable and efficient operations of the future.
