How is IoT changing retail

PL is ready to disrupt the retail industry, especially in the post-covid world with customers who choose minimal physical interactions. Customers are increasingly wanting to have a typical shopping experience out of the 'system' that combines physically and digital in a smooth and personalized way. In fact, IoT has slowly made into retail ecosystems with retailers that use devices connected to reshape the customer experience, offer new products and services, and develop the right digital architecture to enter the new market.

IoT uses kasing in retail

1. Improve customer experience: Today, customers expect deep, transformative, and interactive digital experiences. With IoT, customer digital experience slowly but continues to combine into "my internet". In this interconnected scenario, business companies create and provide products and services that are very interactive, centered on customers. Increased ownership of the device that can be used is a testimony for the phenomenon called "Internet me."

With the Internet of Things, retailers can build interconnected ecosystems to facilitate real-time interactions and two-way both inside and outside the retail store for customers.

Location-based Beacon technology is one example of retailers that use iot technology to add to their service capabilities. Beacon sends a one-way Bluetooth signal directly to the customer's cellphone immediately after coming in its reach. Also known as direct marketing, retail stores use flares to communicate with customers about their special offers, promotional offers, discounts, coupons, special events, and relevant notifications to captivate them to the store.

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For example, if a customer enters the makeup section of the retail store, the application will send a beacon-based reminder about the 'preferred' brand makeup by the customer when he is browsing online. In this way, brick shops and mortars operating 'offline' can enter the 'online' music train and offer personalized customer experience.

Furthermore, retailers can improve the store layout and placement of merchandise by tracking customer movements in stores using sensors. They can place premium products in areas with high customer footfalls and may encourage the sale of these products. Another benefit that IOT can be offered in retail is:

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Customers can scan items displayed in stores using their smart devices and get product information, rank, or social media reviews.

Smart shelves with sensors in stores can find out whether the inventory is low.

Smart mirror allows customers to try dress or clothing virtually. This can significantly reduce the waiting time outside the trial room in the store.

The automatic checkout system can calculate the total product costs purchased at the store and allow customers to pay digitally. This can significantly reduce congestion which is often observed on the checkout path, especially during rush hour.

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2. Optimizing supply chain management: sensors installed on products can help retailers improve inventory tracking and inventory management throughout the value chain. With IoT, retailers can keep real-time sequence tracks in the distribution chain. The smart tag activated IOT allows retail store managers to change the price of products in real-time with the help of the application. By integrating supply chains with IOT-based devices, retailers can improve operations, increase productivity, and reduce costs.

Conclusion

The retail sector is undergoing rapid transformation due to the impact of IOT, and the benefits will surely fulfill expectations that continue to increase from new customers. This technology has the potential to bring the best from e-commerce to brick and mortar stores and help them improve and optimize CX while ensuring profitability and competitiveness.

Sapizon has been on the front line to test the IoT device that changes the game and helps