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5 ways IOT improves your retail experience

August 25, 2018 • Internet of Things, Lists, Retail, Top Stories

5 ways IOT improves your retail experience

5 ways IOT improves your retail experience

As digital is taking business and customer interaction to the next level, the sector which seems to vastly adopt and respond to these technological advancements is retail.

The Internet of Things or IoT is revolutionising the world by creating smart devices that are all connected to the internet. E-commerce turned the retail world on its head and now, mobile is reshaping e-commerce in unprecedented ways.

Here are some ways IoT is already transforming the customer experience:

Providing convenient and speedy access to services and experiences

Marketing and sales are also improved through collection of product, inventory, and shopper data. Customer’s in many home improvement stores can scan products at kiosks for information and pricing. Giving each shopper an app or cart with tablet, can exponentially improve this experience. Product details can be found instantly by scanning the product where it is located in the store, increasing incentive to purchase.

Creating smart stores

You’ve probably heard of smart homes, but now retailers are exploring the money-saving potential of smart stores. Many retailers are already taking advantage of IoT technology that integrates with HVAC systems, lighting, security, and more. The ability to fine-tune when a store’s lights go on and off, or to set the temperature inside a space, may seem like small potatoes—but this technology can ultimately save retailers big money on energy costs.

Identifying problems and proactively resolving customer issues

Another way IoT improves the customer experience is by anticipating customer issues as they arise, giving companies the opportunity to proactively resolve them. Moreover, couriers companies like FedEx and UPS have also taken advantage of IoT by deploying tracking solutions to help them monitor their deliveries, providing customers with the exact location and up-to-date arrival time of their packages. Customers no longer need to worry about when their package will arrive thanks to IoT.

Collecting better retail data

IoT solutions offer retailers the chance to collect data about their operations like never before. For instance, by using sensors in stores, retailers not only know when a given product is low in stock—they can also track exactly how many customers enter a store on a given day, and even the footpath that each individual customer follows.
The opportunities for gathering data are endless, but the retailers who want to make the most out of IoT tech will need to determine which data is most important, and then take action on their findings.

Automatic Online Orders

Just as your IoT-enabled devices can send you alerts for managing your inventory, they can also automatically order particular merchandise when you are running low. Moreover, consumers can also use their smart devices to restock particular products.

By Neo Sesinye
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