London 16 December - The new technology would enable consumers to see anything from a product’s environmental impact to the labour standards involved in its production.
A quick scan with a phone would also inform shoppers about harmful ingredients – enabling them to make informed decisions on their purchases.
Consumers could also be instantly alerted if they’re trying to buy an out-of-date or recalled product.
The report commissioned by GS1 UK of 500 senior retail leaders also revealed 51 per cent of executives predict traditional checkouts will disappear by 2030.
As it stands, 91 per cent admitted technology from the 1990s is still commonplace, and think the industry is failing to keep up.
It also revealed 96 per cent think the QR retail transformation will be complete by 2030, allowing shops to build better customer trust through innovations such as real-time management of expiry dates to reduce wastage - and the ability to apply instant markdowns on items.
Currently, smart QR codes are being tested in 48 countries, representing 88 per cent of the world’s GDP with brands such as PepsiCo, Walmart, P&G, L’Oreal, and Tesco already onboard.
Eight in 10 (84 per cent) think those who aren’t early adopters will miss out on billions of pounds in revenue.
Anne Godfrey, CEO of GS1 UK, said: “As consumers seek more transparency about the products they buy, the need for technology to step up and meet the consumer demand for product information has never been greater.
“With smart QR codes, consumers don’t have to compromise on their values and can make informed decisions on the products they buy, based on the sustainability, environmental, or ethical standards that matter most to them.”
It also emerged 89 per cent believe consumers are less loyal to brands than they were a decade ago. The majority of retail execs also believe the switch to smart QR could help rebuild trust by giving consumers the in-depth information they need, as 77 per cent of consumers say this helps them make decisions when shopping.
Experts believe the switch could support a high-street revival by incorporating digital features into a shopping experience, with 32 per cent predicting immersive technologies will be a major area of change in the retail sector.
Insights on a product’s carbon footprint (32 per cent) are what customers want most from the in-store experience according to the report - far outweighing more opportunities to earn loyalty rewards (26 per cent).
The shift could also help alleviate queues, given their ability to enhance in-store operations during busy shopping times, leading to less reliance on in-store staff, fewer stock errors, a faster checkout process, and increased consumer satisfaction as a result of the improved experience.
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Notes to editors
For further information or requests for interviews, contact Max Fairhurst, max.fairhurst@redbrickroad.com, 07799 739438.
About the research
This research is based on a survey of 507 senior retail industry executives in the UK, as well as a series of one-on-one interviews with retail executives. GS1 UK undertook the study in partnership with FT Longitude, and the survey was carried out by Opinium.
The survey was conducted online in June 2024. Of the executives who took part, 48 per cent work at retailers and 52 per cent at consumer goods producers (CGPs).
The full report, “A new era of transparency”, can be accessed here: gs1uk.org/a-new-era-of-transparency
About GS1 UK
Whether online, in store or in a hospital, the common language of GS1 global standards is helping our community of more than 60,000 organisations across the UK to uniquely identify, describe and track anything, creating greater trust in data for everyone.
From product barcodes to patient wristbands, GS1 standards have been transforming the way we work and live for 50 years. We are now embarking on the next 50 years of industry transformation delivered through QR codes powered by GS1.
GS1 UK is one of 118 neutral and independent GS1 organisations operating worldwide.