As we are near the end of the year's first quarter, it gives me great pleasure to share the first edition of our Insight Quarterly in 2024. 

Fourth quarter and full-year results 2023
Following a challenging 2023, which included inventory destocking downstream from us, we expect to deliver strong earnings growth in 2024 and make progress toward our 2025 goals. Our Intelligent Labels platform continues to accelerate. Our particular focus is on further increasing the adoption of our solutions that help address key industry challenges in apparel,  logistics, food and general retail, and further advancing our leadership position at the intersection of the physical and digital. We remain confident that the consistent execution of our strategies will enable us to meet our long-term goals for superior value creation through a balance of profitable growth and capital discipline.

Everything Connected at NRF 2024
We look back at a very successful NRF 2024, where we participated under this year’s theme, “Everything Connected." When everything is connected, everything changes. During the four consecutive days at NRF, we were delighted to meet with customers, partners, suppliers and the ecosystem and share the insights we gained on some of our case studies like Amazon’s Just Walk Out (JWO). Key topics across the event included frictionless shopping, loss prevention and optimization of supply chain efficiency with RFID. The interest in our technology to solve some of the world's most complex problems reinforces that the future of RFID is bright and that we are in the right place at the right time. 

Other exciting news to share
As you’ll see in this edition, we have some exciting collaborations to share, including the announced partnership between Dayrize and Avery Dennison that will allow companies to measure and track the impact of billions of products through their lifecycle on the atma.io platform. It will also help communicate the environmental impact to consumers in an effective way and ultimately build more sustainable products. Also, you no longer need to worry about sleep. We will be adding intelligence to 1 million mattresses soon to create Digital Product Passports (DPP) that will help facilitate the circular economy. In addition, you can read about the benefits of digital identification solutions now integrated into garments at the source with AD TexTrace™, unlocking new opportunities for the fashion industry.

As we navigate 2024, we are excited about the developments and the possibilities we see to create true value for your business. I hope you enjoy this edition of Insights Quarterly. As always, if you have any feedback or questions, please don't hesitate to reach out to us.

Sincerely,

Raymond van den Berg
Interim Vice President and General Manager, Avery Dennison Smartrac