Smart product management in retail environment based on dynamic pricing and location services

Abstract

Product management and pricing are complex tasks that in many occasions they can be a barrier to offer customers an improved shopping experience. Automatizing this process can help the trade business making easier dynamic services in a retail environment. In this paper, a system of autonomous management is proposed based on current requirements of retail environment. This system is able to acquire different information and integrate dynamic pricing updates based on previous set rules. The authors carried out a basic implementation of the proposed system creating a prototype. This prototype has being used for studying the scalability possibilities the system offers and also test out the compatibility between different subsystems. The requirements of this system have been drawn from proposals made by some Spanish Supermarket managers during execution of the project SMARKET, a project funded by the Ministry of Economy and Competitiveness of Spain.