MARCH 2023Retail Business Review6Kristina SmithManaging Editoreditor@retailbusinessreview.comEditorialRetailers are looking for smart packaging solutions and services to decrease their reliance on plastics and increase environmental sustainability. As a result, the retail packaging industry is leveraging tech innovations to stay ahead of the market competition. According to Allied Market Research, the global retail ready packaging market size was valued at $65.1 billion in 2021, and is projected to reach $107.8 billion by 2031, growing at a CAGR of 5.1 percent from 2022 to 2031.A significant reason for this growth is a spate of technologies capable of delivering best-in-class solutions and services in the realm of retail packaging.Traditional packaging is being disrupted by the Internet of Packaging, which allows customers to better communicate with companies through QR codes, smart labels, RFID, as well as near-field communication (NFC) chips. Products are provided with a unique security code that lets retailers follow it along the supply chain and check product authenticity through the anti-counterfeit system. Retail packaging solution and service providers are also utilizing an IoT-based real-time food intake tracking technology where the food item is put on an NFC-enabled sensor, which detects slight weight variations in the food pack using big data. With plastic's slow disintegration rate, consumers are demanding eco-friendly choices such as biodegradable packaging and films. This edition of Retail Business Review highlights the recent developments in the retail packaging arena and insights into how businesses are aligning with these trends to transform legacy practices.We have curated thought leadership articles from industry experts, including Nick Blatt, Head of E-commerce and Digital Customer Experience, Chemist Warehouse, and Richard Surman, Head of IT, Crew Clothing Company.We also took a deep dive into the market trends to narrow down the list of companies delivering robust retail packaging solutions and services. Equipped with innovative technological capabilities, companies like iFill Systems help transform businesses at the cloverleaf of various disruptive technologies.We hope this edition of Retail Business Review on retail packaging helps you build the partnership you and your organization need to foster an environment driven by efficient technology. Let us know your thoughts! Ushering in an Eco-Friendly Era of Retail Packaging Editorial StaffScott Moorhouse Sebastian JacobToni BrownSarah MurrayJennifer MyersKaren BluebondVisualizerAsher BlakeManaging EditorKristina Smith Email: editor@retailbusinessreview.comsales@retailbusinessreview.commarketing@retailbusinessreview.com March 2023, Volume 03 - Issue 01Published by ValleyMedia, Inc. To subscribe to Retail Business ReviewVisit www.retailbusinessreview.comCopyright © 2023 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff600 S ANDREWS AVE STE 405,FT LAUDERDALE, FL 33301
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