The UPC barcode is going 2D

Author

Stephen Babcock
January 31, 2023

The daily current header

The UPC barcode is a tried-and-true staple of product packaging. But in 50 years, it hasn’t changed, despite advances in retail technology. So, by 2027, industry is working to phase in two-dimensional barcodes that will offer brands and retailers more opportunities to provide content, and greater visibility in the supply chain. At the NRF Big Show, GS1 US SVP Carrie Wilkie spoke with The Current about the Sunrise 2027 campaign to usher in this shift, and how it will reshape the barcode for the QR code generation.

Today marks the day that Amazon’s Buy With Prime service will become available to all US merchants. This means that Prime checkout and delivery can be embedded on retail websites beyond Amazon.com. It’s a move with big implications for marketplaces, and ecommerce as a whole. Check out the three questions The Current is watching as the expansion gets underway.

Over the next five years, egrocery is expected to have a compound annual growth rate of 11.7%, according to Brick Meets Click and Mercatus. That’s a slowdown from the pandemic years, even as ecommerce will continue to outpace overall grocery retail. After a period of rapid buildup, profitability will become more important.

In this week’s roundup of funding and M&A news, there are new investment funds for QR codes and ecommerce software. Plus, Purple rejects a takeover bid, and a tennis star gets a voice with a beverage startup.

In news from the global landscape, a major player in China’s ecommerce sector is pulling back from Southeast Asia. With the impending closure of sites in Indonesia and Thailand, JD.com will transition to serving the region through its supply chain services. It comes against the backdrop of a slowing economy in China, and increased competition in Southeast Asia. – Reuters

Tweet of the Day 🐦

Were you forwarded this email by a friend or colleague?