The retail segment has witnessed a massive tech disruption in recent years, with innovations focused on streamlining operations and enhancing customer experiences.
Internet of Things is emerging as one of the key technologies for the segment as retailers are fast adopting it for modernizing their infrastructure. Based on connected devices and sensors, the technology gathers customer data across diverse channels and provides actionable insights for smarter decisions.
Before you jump into the bandwagon, it becomes vital to understand the value it can serve. Here are some ways in which IoT can empower the future of your retail business.
Contactless checkouts
The new normal requires retail operations to go contactless and that’s exactly what IoT can help with. It makes checkout counters contactless, where the cashier is replaced by mobile apps and devices.
The stores of the future will require fewer systems and queues will be non-existent, which makes sense in the era of social distancing in the post-pandemic world. Mobile POS terminals ease shopping experiences for consumers like never before and give them a good reason to drop in-store rather than buy online.
Asset tracking
Retailers can use IoT for tracking assets, which is important for larger players with a massive number of shopping baskets and carts.
There is always a risk of these expensive assets going missing and the cost of replacing them can be a burden for the store. Installing IoT-based sensors on them is a smart approach as it lets you track them at all times.
These devices function both indoors and outdoors and run for years without running out of batteries, which makes them less expensive as compared to replacing the lost stuff.
Smart shelves
Traditional retail is fast-moving to smart shelf solutions to modernize inventory and supply chain management. At the same time, these solutions go a long way in enhancing the shopper’s experiences with personalization.
The specialized website Ses-Imagotag.com shows how these solutions work and the benefits they deliver for retailers who go the extra mile with the investment. They can be used for updating prices for on-shelf products remotely.
Further, they ensure that retailers are always updated on stock levels so that they can avoid overstocking and shortage.
Beacons
Another innovative aspect of retail IoT is beacons, the tiny Bluetooth devices that are installed on products and assets to connect them to a central hub.
But there’s much more they do as these devices also connect with the customers located in the store’s vicinity through beacon-based apps. They are used for sending timed and targeted mobile push notifications to the customers in proximity for enticing them with special offers and recommendations.
Stores can use them to pump up the foot traffic and boost customer loyalty while making sure that they always reach out to enjoy instant discounts on offer.
The potential of retail IoT is immense and missing out on the technology can put your business far behind the competitors. This is the last thing you would want to happen, so go ahead and implement it right now.
