Observed Signal · Jun 5, 2023 · Partnership · Source: CMSWire · Impact: 2/5 · Sentiment: Positive
IoT Is Redefining Retail Shopping With Smart Technology
The Internet of Things (IoT) is reshaping retail by enabling self-checkout, smart carts, connected vending machines and in-store digital advertising. A Grand View Research report projects the global IoT-in-retail market will reach $297.4 billion by 2030. Catalina data shows US self-checkout lanes grew 10% in five years, with grocery self-checkout representing 38% of lanes. Smart cart providers such as Veeve and Shopic are deploying carts that support in-cart payment and personalized offers; Wegmans is piloting Shopic carts in New York. Farmer's Fridge is placing smart refrigerated vending machines at retailers including Costco, Target and Jewel-Osco. ZEDEDA executives point to computer vision and RFID for theft prevention. Kroger is expanding IoT-powered digital smart screens from Cooler Screens to 500 stores, opening new retail media opportunities for brands.
Focuses on IoT adoption in retail with specific retail media implications (Kroger/Cooler Screens expansion), but is a broad feature rather than a single high-impact event.
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Key Takeaways & Evidence Grounding
- Grand View Research projects the global IoT-in-retail market to reach $297.4 billion by 2030, at a 28.4% CAGR.
- Catalina reports US self-checkout lanes grew 10% in five years; grocery self-checkout now accounts for 38% of lanes.
- ResearchAndMarkets estimates the smart shopping cart market at $1.82 billion in 2023, rising to $5.67 billion by 2028.
- Wegmans is piloting Shopic smart carts at two New York locations; Shopic is deploying 2,000 carts in Israel.
- Kroger is expanding Cooler Screens IoT digital smart screens to 500 stores after a three-year pilot.
Connected Companies & Entities
12 Entities mapped“Self-checkout lines at grocery stores and at many major retailers, including Walmart, Sam's Club, Target and many others....”
“According to a Grand View Research report, the global Internet of Things (IoT) in market size in retail is expected to reach $297.4 billion ...”
“According to a report from Catalina, the number of self-checkout lanes has increased 10% in the US in the past five years....”
“Self-checkout lines at grocery stores and at many major retailers, including Walmart, Sam's Club, Target and many others....”
“Farmer's Fridge recently started delivering its smart refrigerated vending machines offering salads and wraps in jars and bowls to retail lo...”
“National grocery chain Kroger will be adding digital smart screens that uses IoT advertising and analytics from Cooler Screens, bringing the...”
“Self-checkout lines at grocery stores and at many major retailers, including Walmart, Sam's Club, Target and many others....”
“Dollar Tree and Target recently reported lower-than-expected earnings, with both citing theft ("shrinkage" in retail parlance) as a primary ...”
“Veeve now offers smart carts that include attached tablets with connected screens that retailers can use to make personalized offers and pro...”
“According to Shopic, Wegman's is piloting smart carts at two of its New York locations....”
“Jewel-Osco, an Albertson's company....”
“National grocery chain Kroger will be adding digital smart screens that uses IoT advertising and analytics from Cooler Screens, bringing the...”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
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