Retail & FMCG
Since the time the first barcode was scanned on a pack of Wrigley's chewing gum at a supermarket in Ohio, in 1974, GS1 has contributed significantly to the overall growth of the retail sector by making supply and demand chains more efficient and responsive to consumer needs.
Over 5 billion GS1 barcodes get scanned each day at retail outlets worldwide and the use of GS1 standards has spread far beyond it to encompass the entire supply chain – starting from the manufacturer's plant, through the distribution network and till the point-of-sale in retail stores or on online shopping sites.
GS1 standards used in the retail and FMCG (Fast Moving Consumer Goods) sectors include much more than just the barcode. They include standards for RFID-based identification and standardised ways to exchange critical business information. By enabling the unique identification and seamless exchange of products and information, GS1 standards help to:
- Identify trade items and logistics units by barcodes and keys (GTIN, GLN and SSCC) for product, location and shipment unit's accurate identification in order to boost product visibility and operational efficiency
- Enable barcode POS scanning system for efficient retail checkout and efficient B2B electronic ordering, invoicing and timely replenishment
- Enhance inventory management through RFID technologies to fulfill a solid omni-channel strategy and facilitate shopper behaviour analytics
- Improved data quality of Item masters/product catalogues
Today, the retail industry is responding to changing habits of consumers, who switch seamlessly between in-store and e-commerce channels while expecting a consistent shopping experience. GS1 standards are helping the retail sector integrate store operations, delivery and inventory management to meet the challenges of the new omni-channel marketplace and satisfy the expectations of consumers – before, during and after their purchase – whether they're shopping online, in-store or via mobile. Find out more about GS1 and omnichannel commerce