Connected Retail | Connecting IoT and Retail Success

Connected Retail | Connecting IoT and Retail Success
75% of retailers globally are expected to adopt IoT which will definitely transform the retail industry.

Adoption of IoT by Retailers: –

IoT in retail has potential to disrupt end-to-end processes. Here are some of use-case of IoT in retail

data monitoring in real time from stores and deriving insights,
enriching the in-store experience of customer using the collected data and
Streamlining store operations.

Key IoT applications in Retail:-

Below are few important areas in which retailers can using IoT:

Store Management: Smart store management is key for optimizing the operations of a retail store. And Internet of Things (IoT) has potential to play critical role in enabling this. For example, IoT enabled monitoring of the refrigeration units. IoT sensors can help retailers to collect data about energy consumption, power failure and temperature variations. Analysis of this data can come in handy to reduce costs and improve efficiency.

Logistics and Fleet Management: IoT enabled fleet management and telematics devices are being deployed for route optimization. Such applications help ensure better visibility of the goods on the move and reduce distribution time and cost

Warehouse Management: Major retailers like Amazon are leveraging IoT based solutions for warehouse automation and digitize the fulfillment process.Human intervention is being increasing replaced with IoT enabled robotic devices for product handling, packaging and dispatch in the warehouse

In-Store Experience: Converting the footfalls into sales has been the biggest goal and also a challenge for the global retailers.