Which retail technology innovation, first patented in 1952 but not widely adopted until the 1970s, revolutionized inventory tracking and is estimated to save retailers over $18 billion annually in labor costs?

In the competitive retail landscape, technological innovations have transformed how businesses operate and connect with consumers. This breakthrough technology significantly changed inventory management and consumer experiences worldwide, creating a multi-billion dollar ecosystem of compatible products and revolutionizing supply chain efficiency. Test your knowledge about this game-changing retail innovation that bridged physical products with digital inventory systems.

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RFID (Radio-Frequency Identification) tags
UPC barcodes
Electronic shelf labels (ESL)
NFC (Near Field Communication) payment systems