The internet has already connected people with people. Its reach is growing faster to modify even the way things are connected to each other. The technology of Internet of Things (IoT) has evolved, which connects different devices through sensors, software, and electronics for seamless information sharing. Internet of Things is that stick of a magician that makes devices smarter and connects them with each other.
Even businesses are adopting the IoT technology to upgrade different channels and devices through which they connect with customers. For instance, the retail sector is creating an omnichannel shopping experience for customers by connecting with them through all possible mobile devices. Retailers are creating a separate web interface for mobile users and desktop users to improve the visibility of their brand and products.
Internet of Things: Promoting the omnichannel shopping experience
According to Zebra’s Retail Vision Study 2017: Nearly 70 percent of retailers across the globe are ready to adopt IoT for improving the experience of customers.
With the adoption of IoT technology, retailers are opening up all possible delivery channels to ensure smooth shopping experiences for customers. Along with exploring innovative delivery services, the IoT technology is also used in the retail sector for improving e-commerce and in-store experience of shoppers. Zebra’s study affirms that 78 percent of retailers agree with the idea of integrating e-commerce and in-store experiences.
Shoppers can buy in-store and get the product shipped straight to home, buy online and pick up in-store, or buy in-store and ship the product home on their own. In order to return a product, they again have different options as per their convenience. This way, retailers are offering their shoppers a new level of shopping speed and convenience like never before.
(Image Source: Forbes)
Internet of Things: Personalizing customers’ shopping experience
In today’s time, retailers are more inclined towards personalizing the shopping experience of customers with the use of IoT. The ‘locationing technology’ of Internet of Things helps them in tracking the store visit of shoppers and provides real-time alerts to employers if a shopper needs assistance. Other customer-related data, such as frequency of their visit in a store and buying preferences can also be tracked using the IoT technology. Sensors fitted at different locations of a store can track shoppers’ activities, and keep employers on their toes to assist them as soon as they need any help.
(Image Source: Forbes)
Internet of Things: Making inventory management easier
To improve the overall inventory management performance, retailers are now taking help of IoT technologies. Different analytic tools and sensors help in real-time tracking of inventory and shipping orders. With real-time inventory status available at any point of time, retailers can figure out what’s selling and what’s lying idle in the store. Also, they can reload the depleting stock in time and ensure that customers don’t have to wait for what they want. Automation of inventory management activities is quite helpful for retailers, and around 65 percent of them are likely to invest in IoT technology by 2021, as per the ZRV study.
Retailers who want to take the lead in a competitive environment, need to adopt the IoT technology. This technology can help them in reducing cost, increasing revenue and creating a differentiated brand experience.
Kalpana Arya is a tech enthusiast, presently working as a Content Expert with Techpillar. Tech blogging is her passion, through which she intends to explore the world of software & hardware. She doesn’t just write for tech-savvy people, but also for those who find the world of technology intriguing.